Donald Trump, Peter Thiel and the death of democracy

[Commentary] The next American electorate will be more nonwhite, more working-class, and more leftwing. And they’re likely to demand more democracy, not less – not only from the political system, but from the economic system as well. That sets them on a collision course with elites like Peter Thiel. Above all, Thiel is an innovator. He has made his fortune by recognizing the potential of an idea long before his peers. Silicon Valley, along with most of American business, may dislike Trump. But that doesn’t mean they couldn’t someday embrace the kind of politics he represents. A Trumpist state could do much to soothe the crisis of capitalism: it could pour public dollars into discovering the next lucrative technology for the private sector while holding the line against the redistributive clamor of a rising millennial majority. Thiel has a history of making bets that pay off big. With Trump, he may have made another.