It makes perfect sense if you think about it from Thiel's perspective. Other than legal technicalities like marriage, the consequences of being gay are mainly determined by societal attitudes and not electoral politics. No legal changes that the Republicans would make do anything to stop a powerful billionaire from being openly gay. So it makes perfect sense that he would favor his business interests when he takes sides in politics.

I mean, these people aren't well my guy. It's not a huge stretch to imagine a bunch of repressed self-loathing around one's identity being at or near the core of it.

Thiel grew up in the 90s. Whatever one deems the tolerance situation today, it was worse then.