Peter Thiel Is Ditching San Francisco for Los Angeles

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Peter Thiel, Silicon Valley's most high-profile conservative, may be admitting defeat in Silicon Valley's culture wars and retreating to Los Angeles.

Thiel has also discussed resigning from Facebook Inc.'s board, according to the Wall Street Journal, which earlier reported his plans to relocate.

Thiel is also considering resigning from the Facebook board, where Thiel has been a director since 2005.

The Journal reports that Thiel Foundation and Thiel Capital will move to L.A., where Thiel also is said to be planning to start a new media venture.

A rare, but prominent conservative within Silicon Valley, Thiel's relationship with the tech industry has soured, particularly at Facebook (FB).

"Silicon Valley is a one-party state", Thiel said at a recent debate about tech and politics at Stanford University with Reid Hoffman, fellow venture capitalist and PayPal Mafia member, and co-founder of LinkedIn.

"We need to engage more" rather than "telling Trump voters to just hurry up and die", Thiel said at the event.

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Silicon Valley companies and tech workers overwhelmingly supported Democrat Hillary Clinton in the 2016 election.

Late a year ago, Thiel sold three-quarters of his remaining stake in the social network as part of a previously established trading plan, a regulatory filing showed.

James Damore, the writer of the controversial "Google memo", alleged in a lawsuit against his former employer that it discriminated against white male conservatives. Thiel cofounded PayPal, which was sold to eBay for $1.5 billion in 2002.

Thiel, a libertarian who supported and later advised President Donald Trump, received criticism from other Silicon Valley moguls, including Netflix CEO Reed Hastings.

Facebook CEO Mark Zuckerberg declined both resignations and defended Thiel, saying his "ideological diversity" was essential to the board.

That action, if it occurs at all, does not appear to be imminent, but Thiel did sell 73% of his remaining stake in Facebook in November, pocketing nearly $30 million.

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