PayPal co-founder Peter Thiel tells Joe Rogan why California is edging closer to Saudi Arabia in terms of government policies
American entrepreneur Peter Thiel likened California to Saudi Arabia during his recent appearance on The Joe Rogan Experience podcast. As the PayPal co-founder sees it, the Western US state and the Middle Eastern country are enforcing similar government policies.
Talking to Rogan on episode #2190 of JRE, Thiel claimed that Saudi Arabia and California were redistributing most of their finances into the same two sectors.
The 56-year-old added that both regions were also similar in how they rake in their income, as both have a singular industry as their major financial driver. Elaborating on the topic, he said:
"You have oil fields in Saudi Arabia and big tech companies in California... and then you have a completely bloated, inefficient government sector, and you have all sorts of distortions in the real estate market... The government and the real estate are the ways you redistribute the oil wealth or the big tech money in California."
As Thiel sees it, while this method might seem like an inelegant way to design a financial system, it is stable. Doubling down on his point, he added:
"People have been saying Saudi Arabia is ridiculous. It's going to collapse any year now. They have been saying that for forty or fifty years, but you know if you have a giant oil field, you can pay for a lot of ridiculousness."
Check out Peter Thiel and Joe Rogan's comments below:
Peter Thiel tells Joe Rogan his ideal US cities to live in
As a successful businessman, Peter Thiel has taken great care in deducing his ideal US city to live in and two zero-tax havens are currently topping his list.
Explaining his rationale to Joe Rogan, Thiel stated that the best place to live would be zero-tax states with at least moderate-sized cities to drive its GDP. Elaborating on the topic, the billionaire businessman said:
"You have Washington State with Seattle, where the weather is the worst in the country. You have Nevada with Las Vegas, which I'm not that big a fan of... You have Texas which I like as a state but I'm not a big fan of Austin, Dallas, or Huston... That leaves Nashville, Tennesse, or Miami, South Florida. Those would be my two top choices."
Catch Peter Thiel's comments and the full JRE episode below (13:50):