I this sentiment is actually right, especially when you realize that Thiel has made it clear that he isn't all that impressed with the advances of the last 30 years. We've seen innovation in software but not many breakthroughs in physics and atoms. For example, the predictions of the 50s and 60s about how we would live (flying cars, greater health, space travel, cleaner, futuristic cities) seemed to hope for those breakthroughs. The reality of where innovation happened is much more depressing: pocket computers, information superabundance, and porn.
For example: there has yet to be a breakthrough in the last 50 years that could even come close the impact of antibiotics and nobody has set foot on the moon in five decades. But if you told someone that in the late 60s, I think they wouldn't believe it.