Peter Thiel, the venture capitalist who co-founded PayPal and was the first outside investor in Facebook Inc., doesn’t think the technology sector is in a bubble, but he’s looking to diversify some investments anyway.
“Startup tech stocks may be overvalued, but so are public equities, so are houses, so are government bonds,” said Thiel, speaking Tuesday at the LendIt USA Conference in San Francisco. “Silicon Valley is quite far from it. If the bubble is in cash, illiquid startup investments may be a place to hide.”
