Peter Thiel: Why Facebook Is Like Ford Motors In The 1920s
Peter Thiel is not as hot on consumer Internet investing these days, despite how bullish he is on one of his own portfolio companies, Facebook Inc.
The venture and hedge fund investor, who was an early backer of the company well before it became a global social networking phenomenon, said it is “relatively undervalued” at its current secondary market valuation of approximately $30 billion.
“It’s the least overvalued of the major Internet companies in the world…If it’s a choice between Google and Facebook you should be long Facebook,” Thiel said at the TechCrunch Disrupt conference in San Francisco on Monday.
That doesn’t mean he is particularly bullish on the consumer Internet sector in general. He believes that much of the growth will be captured by existing large Internet companies. For example, existing companies such as Yelp or Google could be dominant on mobile devices.