1.) 2006 is a faraway time. Most hedgies have seen the wisdom in putting less of their money where their mouth is. I would be very surprised if Mr. Thiel has retained this approach.

2.) As you disclosed, liquid net worth. Other, harder-to-value assets like the Facebook stake likely pepper his portfolio. I'd be shocked if that was Mr. Thiel's only venture, after all!

The presence of that statement document doesn't make such a blindered analysis credible. You can get the pitchbook and the marketing materials pretty easily, even from the most cloistered of funds. Hell, the only reason you aren't bombarded with them is because of marketing and disclosure laws that identify you, Mr. Thomas, as neither an Accredited Investor nor a Qualified Purchaser.

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