GROWTH FOR REALLY JUST SHOWING
ALLIANCE.
>> AMEN WE WILL TALKB MORE
THIS HOUR RIGHT NOW PAYPAL
COFOUNDER PETER THIEL SAT DOWN
WITH MARIA BARTIROMO IN
EXCLUSIVE INTERVIEW ON FOX
BUSINESS GIVING PRESIDENT
TRUMP HIGH PRAYS FOR THE TAX
REFORM THAT HAS PUT MORE MONEY
IN POCKETS OF AMERICANS, ALSO
WEIGHING IN ON BITCOIN, IMPACT
OF REGULATIONS ON SILICON
VALLEY, AND THE TARIFFS.
>> THE TAX PLAN ROLL BACK IN
REGULATIONS HAVE DEFINITELY
IMPACTED THE ECONOMY IN A
POSITIVE WAY, IT IS BOOSTED
THINGS TALKING ABOUT 3%
ECONOMIC GROWTH THIS YEAR,
WHICH IS GREAT, BUT HE IS
GETTING PUSHBACK ON THIS
TARIFF STORY AND TRADE, WHERE
ARE YOU ON THAT?
>> WELL, I YOU KNOW I THINK
EVEN SOMETHING LIKE THE
TARIFFS ALWAYS -- ALWAYS
SUPPOSED TO BE ANTITARIFF, PRO
FREE TRADE BUT I THINK THAT
NEEDS TO BE RETHOUGHT AS WELL,
IT IS OBVIOUSNESS THAT THERE
IS SOMETHING WRONG WITH OUR
TRADE RELATIONS WHEN THIS
ASYMMETRIC WE IMPORT 475
BILLION DOLLARS, A YEAR FROM
CHINA WE EXPORT 100 BILLION,
THAT IS AN INCREDIBLE TRADE
DEFICIT THE ECONOMIC THEORY
THAT IS THE COUNTRY SHOULD
HAVE TRADE DEFICITS BECAUSE IT
HAS THE FASTER GROWING ECONOMY
AND SO CAPITAL SHOULD BE
FORMED FROM U.S., TO INVEST IN
CHINA, AND THEN, CHINA SHOULD
HAVE TRADE DEFICITS THAT
OFFSET THE FLOWS, AND WE LIVE
IN A WORLD WHERE MONEY IS SORT
OF STRANGELY FLOWING UPHILL
U.S. SLOWER GROWING ECONOMY
DEVELOPED COUNTRY HAS TRADE
DEFICITS AND INVESTMENTS ARE
FLOWING FROM YOU KNOW POOR
PEOPLE IN CHINA, INTO -- INTO
THE U.S. ECONOMY, IT IS
COMPLETELY BACKWARDS, SO THAT
TELLS US STRINGS STRANGE IN
TERMS OF DYNAMICS YOU LOOK AT
IT ALL KINDS OF DIFFERENT
ISSUES, WHERE THERE IS VERY
DIFFERENTIAL TREATMENT THERE
IS YOU KNOW, INTELLECTUAL
PROPERTY IS NOT ALWAYS
RESPECTED U.S. HAS, AND SO TO
GET TO REASONABLE TRADE, IT OF
AN IS HELPFUL TO HAVE PEOPLE
NEGOTIATING TRADE TREATS NOT
TOO IDEOLOGICALLY COMMITTED IF
TOO IDEOLOGICALLY ON FREE
TRADE YOU WILL SAY IT DOESN'T
MATTER NEGOTIATED BAD TREAT
ALWAYS BETTER FOR EVERYBODY,
AND, YOU ACTUALLY WANT SOMEONE
NEGOTIATING TREATS A LITTLE
BIT SKEPTICAL THINKS YOU HAVE
TO NEGOTIATE, IP PROTECTION
TAXES ON DIFFERENT COMPANIES,
THE INVESTMENT HE GOS
PROVISIONS.
>> 476 BILLION DOLLARS IN
TERMS OF A DEFICIT FROM CHINA,
THIS IS WHY, THE WHITE HOUSE
IS NOW READYING, A NEW
PROGRAM, TO YOU KNOW, PUT IN
PLACE, NEW TARIFFS AGAINST
CHINA NEW RESTRICTION, FOR
CHINA BECAUSE THEY ARE TRYING
TO TRANSFER OUR TECHNOLOGY TO
CHINA.
WHAT IS YOUR EXPERIENCE WITH
CHINA?
>> WELL, IT IS -- IT IS --
>> YOU -- MY BOOK --
INCREDIBLY WELL IN XHOOIN I
HAVE SPENT QUITE A BIT OF TIME
THERE I THINK, I THINK THEY
ARE DOING A TERRIFIC JOB
DEVELOPING THEIR COUNTRY
GROWING, THEIR ECONOMY.
BUT IT CERTAINLY IS A MUCH
LESS OPEN ECONOMY THAN THE
U.S. IS.
SO YOU KNOW, IF YOU IF WE WERE
TO SAY CHINA IS DOING A LOT OF
THINGS WELL, THEN, THEN
CERTAINLY ON THE TRADE SIDE,
MORE LIKE CHINA YOU WOULD BE
WAY BEYOND, TRUMP IS
PROPOSING.
>> YOU HAVE TO SEE THINGS AS
PART OF NEGOTIATIONS, WHERE
THE GOAL IS NOT TO HAVE
MASSIVE TARIFFS ON BOTH SIDES
TO GOAL IS TO GET FAIR TRADE
AND OPEN UP BOTH MARKETS,
HEQUALLY.
>> I THOUGHT INCREDIBLE CHINA
PARTICIPATED IN 10% VENTIR
DEALS LAST FIVE YEARS IN U.S.
SO THEY ARE OBVIOUSLY LOOKING
AT THE INNOVATION IN AMERICA,
TRYING TO BRING IT TO CHINA.
>> THAT IS ALWAYS THE OTHER
SIDE OF THE TRADE DEFICIT WITH
U.S. SO CAPITAL FLOWS TO MONEY
FLOWS TO CHINA THEN HAS TO GET
REINVESTED IN THE U.S. EVEN
THOUGH A GOOD THING INVESTING,
THE REASON IT IS HAPPENING IS
BECAUSE OF ENORMOUS TRADE
DEFICITS, SO THERE IS FAR MORE
CHINESE INVESTMENT IN U.S.,
THAN U.S. INVESTMENT IN CHINA.
>> MAKES SENSE LET ME ASK YOU
ABOUT REGULATORY ENVIRONMENT
OVERALL BECAUSE THESE
TECHNOLOGY COMPANIES WE TALK
POWERFUL THAN THEY HAVE BEEN,
NOW, FOR THE FIRST TIME IN A
LONG TIME YOU ARE HEARING
LAWMAKERS TAKE NOTE AND SAY
WELL YOU KNOW MAYBE THE
ACERTAINLY AGs IN AMERICA WANT
TO FOCUS ON CERTAIN TECHNOLOGY
COMPANIES POWER THEY HAVE AND
IN EUROPE YOU ARE SEEING
EUROPEAN UNION LEADERS ARE YOU
ANDING HEAVIER BITE IN TERMS
OF U.S. REGULATION ON
TECHNOLOGY.
>> IT IS HAVE A REASONABLE
DOUBT TO SAY I CERTAINLY THINK
THERE IS INCREASED SCRUTINY
YOU KNOW IN THE SHORT TO
MEDIUM TERM, I AM MORE WORRIED
ABOUT WESTERN EUROPE, AND
CERTAINLY A PART OF THE
WESTERN EUROPEAN DYNAMIC IS
THAT COMPANIES ARE
ALL-AMERICAN, THERE HAVE BEEN
FEW SUCCESSFUL TECHNOLOGY
COMPANIES BUILT IN EUROPE SO
HAS SORT OF A VAGUELY
PROTECTIONIST TARIFF LIKE FEEL
IN EUROPE.
BUT ALSO POSSIBLE THAT WE'RE
GOING TO BE SEEING SOMEWHAT
MORE IN U.S., AND -- AND I
DON'T THINK THE TECH INDUSTRY
DESERVES TO BE MASSIVELY
REGULATED.
BUT IT IS POLITICALLY IN A
WEEK PLACE ONE OF THE
INCREDIBLE MISTAKES THAT
SILICON VALLEY HAS MADE IS TO
BECOME A ONE-PARTY STATE, I
THINK THE BANKS DID A LOT OF
THINGS WRONG PRE2008 BUT VERY
BIPARTISAN THE REGULATIONS
WERE ONLY MODERATE CONSIDERING
SEVERITY OF THE O 8 CRASH A
RISK O SILICON VALLEY WILL BE
REGULATED MORE THAN BANKS
BECAUSE POLITICALLY SO
STUPINSIDE ASK YOU TALK ABOUT
WHERE THE GROWTH IN WORLD IS
TODAY YOU HAVE BEEN ABLE TO
REALLY SPOT INCREDIBLE TRENDS
THROUGHOUT YOUR CAREER, IN
TERMS OF GROWTH STORIES WITHIN
TECHNOLOGY.
WHERE DO YOU SEE THE GROWTH
TODAY.
>> WELL, I -- I ALWAYS
HESITANT TO GIVE THEME AT I
THINK ANSWERS I THINK SPECIFIC
COMPANIES DO UNIQUE ONE OF A
KIND THINGS LIKE TO VERY HE
HAVE IN COMPANIES, THAT ARE
DOING SOMETHING MUCH BETTER
THAN ANYBODY ELSE, OR IF THEY
WEREN'T DOING IT NOBODY WOULD
SO IT IS -- IT IS UNIQUE
COMPANY THAT IS VEPG A DRUG
FOR NEW ZZ RATHER THAN
INVESTING IN A RESTAURANT,
KNOW 1,000 OTHER IN NEW YORK
CITY THAT IS ALSO A THIS
STRESS ON FINDING UNIQUE
COMPANIES.
>> ANYTHING STRIKE YOU RIGHT
NOW IN TERMS OF UNIQUENESS.
>> THE THEMES MOST FOCUSED ON
CRYPTOCURRENCY THEMES, AND SO
I DO THINK IT IS VERY HARD TO
KNOW WHERE THAT IS GOING TO
GO.
IT IS STRIKING HOW MUCH THIS
HAS BEEN MISSED, AND BOTH
SILICON VALLEY, AND NEW YORK
CITY, IT IS STRIKING HOW
UNIFORMLY DISLOOINGD IT
UNIFORMLY DISLOOINGD I
UNIFORMLY DISLIKINGD I
UNIFORMLY DISLIKEDGD I
UNIFORMLY DISLIKED I I
UNIFORMLY DISLIKED ITI
UNIFORMLY DISLIKED IT I
UNIFORMLY DISLIKED IT IS
BITCOIN HAVE VERY LONG WAY TO
GO IF THEY IF IT SUCCEEDS
BECOMING THIS CRYPTOCURRENCY
STORE VAL BITCOIN WORTH UNDER
200 BILLION DOLLARS TODAY ALL
GOLD IN THE WORLD IS WORTH 8
TRILLION, AND IT COULD BECOME
THE NEXT GOLD.
SO I THINK THAT IS THAT IS
STILL THE THING THAT I WANT TO
PAY VERY CAREFUL ATTENTION TO
--
>>.
>> WHEN IN SAUDI ARABIA YOU
SAID YOU WERE DISCREPANCY CAL
OF CRITIC CRITIC BUT THOUGHT
BITCOIN.
>> -- SKEPTICAL OF BLOCKCHAIN
I LIKE THE CURRENCY VAL STORY
BEST ONE OF THOSE IS BITCOIN I
WOULD BE LONG BITCOIN A LITTLE
BIT MORE QUESTIONING ABOUT
EVERYTHING ELSE IT IS, OF
COURSE, IT HAS ALL SORT OF
99-2000 BUBBLE LIKE ASPECTS
ONE THING VERY DIFFERENT FROM
99-2000 ALMOST NO WALL STREET
ANALYSTS PUSHING THIS, SO IT
IS SO OUT OF FAVOR.
>> TRUE.
>> SO OUT OF FAVOR.
>> FINAL QUESTION PETER --
MANAGER -- THE INFRASTRUCTURE
FOR DATA, TELL US ABOUT DATA,
AND HOW YOU SEE DATA CHANGING
INDUSTRIES I MEAN, SEVERAL
INDUSTRIES.
>> THAT IS A BROAD QUESTION I
THINK THE CRITICAL ISSUE IT IS
ALWAYS IT IS NOT HOW TO --
AGGREGATE DATA FIGURE OUT
INTERESTING STATISTICAL THINGS
THAT IS THE BIG DATA STORY I
THINK THE CRITICAL THING IS
ALWAYS FIND CONCERNEL NUGGET
IMPORTANT THING IN IT SORT OF
THE YINT BIG DATA, SLOGAN COME
UP WITH, IS YOU NEED TO MAKE
BIG CAT SMALL WE ARE
OVERWHELMED WITH DATA, AND
EVEN THOUGH SOME STATISTICAL
PERSONS ONE CAN FIND MUCH MORE
IMPORTANT THING IS TO TURN THE
DATA INTO A FEW NUGGETS OF
REALLY IMPORTANT THINGS, SO IF
YOU HAVE A BANK, MILLION OF
TRANSACTIONS YOU WANT TO FIND
FEW TRANSACTIONS THAT ARE
FRAUDULENT SIFT THROUGH FIND