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Opinion

Peter Thiel: The Silicon Valley billionaire made big—and early—bets on Trump and J.D. Vance. What did he see that so many didn’t?

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News release from The Free Press

Triumph of the Counter-Elites

Bari Weiss and entrepreneur Peter Thiel talked this week in Washington, D.C.

On Tuesday night, Donald Trump announced that the richest man in the world, Elon Musk, along with the entrepreneur Vivek Ramaswamy, will head a new initiative in the Trump administration: the Department of Government Efficiency, or “DOGE.”

Internet meme culture has now landed in the White House. Dogecoin is a memecoin—and if you don’t understand that sentence, fear not—I am sure Nellie will cover it in TGIF tomorrow.

But what the announcement solidifies—if Trump’s win hadn’t already—is the triumph of the counter-elite.

A bunch of oddball outsiders ran against an insular band of out-of-touch elites supported by every celebrity in Hollywood—and they won. They are about to reshape not just the government, but also the culture in ways we can’t imagine.

How they did that—and why—is a question that I’ve been thinking about nonstop since Tuesday.

And there was one person, more than any other, who I wanted to discuss it with. He is the vanguard of those antiestablishment counter-elites: Peter Thiel.

If you listened to my last conversation with the billionaire venture capitalist a year and a half ago on Honestly, you’ll remember that Peter was the first person in Silicon Valley to publicly embrace Trump in 2016. That year, he gave a memorable speech at the Republican National Convention that many in his orbit thought was simply a step too far.

He lost business at Y Combinator, the start-up incubator where he was a partner. Many prominent tech leaders criticized him publicly, like VC and Twitter investor Chris Sacca, who called Thiel’s endorsement of Trump “one of the most dangerous things” he had ever seen.

A lot has changed since then.

For one, Thiel has taken a step back from politics—at least publicly. He didn’t donate to Trump’s campaign. There was no big RNC speech this time around.

But the bigger change is a cultural one: He’s no longer the pariah of Silicon Valley for supporting Trump. There’s Bill Ackman, Marc Andreessen, David Sacks, Shaun Maguire, and Elon Musk, among many other tech titans who have joined the Trump train.

On the surface, Thiel seems full of contradictions. He is a libertarian who has found common cause with nationalists and populists. He invests in companies that have the ability to become monopolies, and yet Trump’s White House wants to break up Big Tech. He is a gay American immigrant, but he hates identity politics and the culture wars. He pays people to drop out of college, but still seems to venerate the Ivy League.

But perhaps that’s the secret to his success. He’s beholden to no tribe but himself, no ideology but his own.

And why wouldn’t you be when you make so many winning bets? From co-founding PayPal and the data analytics firm Palantir (which was used to find Osama bin Laden) to being the first outside investor in Facebook—Thiel’s investments in companies like LinkedIn, Palantir, and SpaceX have paid off, to say the least.

His most recent bet—helping his mentee J.D. Vance get elected senator and then on the Trump ticket—seems also to have paid off. The next four years will determine just how high Thiel’s profit margin will be.

On Honestly, Thiel explains why so many of his peers have finally come around to Trump; why he thinks Kamala—and liberalism more broadly—lost the election; why the Trump 2.0 team, with antiestablishment figures willing to rethink the system, will be better than last time. We talk about the rise of historical revisionism, the blurry line between skepticism and conspiracy, and his contrarian ideas about what we might face in a dreaded World War III.

Click below to watch the full-length video.

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International

Judiciary explores accountability options over Biden decline ‘coverup’

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Former President Joe Biden salutes the departure party before boarding Special Air Mission 46 at Joint Base Andrews, Md., Jan. 20, 2025. 

From The Center Square

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No obvious solutions emerged during a congressional hearing Wednesday on how to hold those accountable for the alleged cover-up of President Joe Biden’s mental and cognitive decline, but witnesses had some suggestions for how to prevent similar situations in the future.

Republicans have been adamant for some time that Democratic lawmakers, the prior administration, the legacy media and those closest to Biden conspired to hide the former president’s mental and cognitive decline from the American people. More recently, allegations have surfaced that some of Biden’s staff or potentially others may have used an autopen – a machine that can replicate signatures – to sign official documents for Biden without his knowledge or consent.

From the Senate Judiciary Committee hearing on June 18th, 2025

Wednesday’s witnesses agreed that further investigation needs to be done into these questions. Republicans also explored what can be done after the fact and how to prevent similar events from happening in the future. The Senate Judiciary Committee’s hearing into those questions Wednesday’s boycotted by all but one Democrat.

Republicans didn’t miss the opportunity to call them out for it. U.S. Sen. Eric Schmitt, R-MO, said Democrats’ absence and their failure to call any witnesses to testify was “deeply disappointing” but “not surprising.”

“Their absence speaks volumes – an implicit admission that the truth is too inconvenient to face,” Schmitt said. “This de facto boycott is not just a refusal to participate. It’s a refusal to serve the American people who deserve answers about who was truly leading their government.”

From the Senate Judiciary Committee hearing on June 18th, 2025

Much of the hearing’s discussion revolved around proper uses of the autopen, which witnesses testified can only be rightfully used when the president specifically delegates its use to the user. The committee also discussed Section 4 of the 25th Amendment to the Constitution, which talks about succession in the case of a president becoming unfit or unable to fulfill the role. The amendment authorizes the vice president and a majority of the president’s cabinet to declare the president unfit, though that declaration has to be validated by a vote from Congress in order to have any effect.

What’s missing, however, is a clear manner of recourse for lawmakers or the public if those around the president fail to act despite plain signs he is incapable of holding office. Republicans wanted to know what they could do to prevent the alleged conspiracy from simply fading into history without consequences for any involved.

“As a government, it is imperative that we have clear contingency plans when emergency strikes, and yes, it is an emergency when we have a sitting president who is unable to discharge the duties of that office,” said U.S. Sen. John Cornyn, R-TX.

He asked witness Theo Wold, a visiting fellow for law and technology policy with The Heritage Foundation and who worked in the previous Trump administration, if any criminal statutes could be applied to those who are found to have participated in the alleged cover-up.

“In this case, some have suggested that there may be potential crimes committed by members of the Cabinet for failing to act basically, suborning perjury, forging, forging government documents, impersonating a federal officer, making false statements, conspiracy to defraud the United States, obstruction of justice, wire or mail fraud…  Do you think there’s any application of any of those criminal statutes to the circumstances of the Biden presidency?” Cornyn asked.

“There very well could be,” Wold said, but he added that it would be “a question for a prosecutor to take up in their discretion.”

While witnesses agreed that anyone participating in a cover-up should be held accountable, the solutions for doing so weren’t as clear as recommendations for how to prevent similar situations in the future.

John Harrison, James Madison Distinguished Professor of Law at the University of Virginia, didn’t see an obvious method of redress for what already happened but suggested that Congress perhaps require greater documentation of presidential actions going forward.

Wold provided additional suggestions, such as a revival of discussion around “other guardrails” that can be imposed on the 25th Amendment. There was lively debate toward the end of Ronald Reagan’s presidency about adding a mental health professional to the White House medical team or “whether the surgeon general should oversee the inclusion of medical reporting as part of… the 25th Amendment,” according to Wold. But he said there hadn’t been serious discussion since on how to improve the amendment. He also agreed with Sen. Katie Britt, R-AL, that some of the terms in the amendment, like “unable,” should be more clearly defined.

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Business

Canada’s critical minerals are key to negotiating with Trump

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From Resource Works

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The United States wants to break its reliance on China for minerals, giving Canada a distinct advantage.

Trade issues were top of mind when United States President Donald Trump landed in Kananaskis, Alberta, for the G7 Summit. As he was met by Prime Minister Mark Carney, Canada’s vast supply of critical minerals loomed large over a potential trade deal between North America’s two largest countries.

Although Trump’s appearance at the G7 Summit was cut short by the outbreak of open hostilities between Iran and Israel, the occasion still marked a turning point in commercial and economic relations between Canada and the U.S. Whether they worsen or improve remains to be seen, but given Trump’s strategy of breaking American dependence on China for critical minerals, Canada is in a favourable position.

Despite the president’s early exit, he and Prime Minister Carney signed an accord that pledged to strike a Canada-US trade deal within 30 days.

Canada’s minerals are a natural advantage during trade talks due to the rise in worldwide demand for them. Without the minerals that Canada can produce and export, it is impossible to power modern industries like defence, renewable energy, and electric vehicles (EV).

Nickel, gallium, germanium, cobalt, graphite, and tungsten can all be found in Canada, and the U.S. will need them to maintain its leadership in the fields of technology and economics.

The fallout from Trump’s tough talk on tariff policy and his musings about annexing Canada have only increased the importance of mineral security. The president’s plan extends beyond the economy and is vital for his strategy of protecting American geopolitical interests.

Currently, the U.S. remains dependent on China for rare earth minerals, and this is a major handicap due to their rivalry with Beijing. Canada has been named as a key partner and ally in addressing that strategic gap.

Canada currently holds 34 critical minerals, offering a crucial potential advantage to the U.S. and a strategic alternative to the near-monopoly currently held by the Chinese. The Ring of Fire, a vast region of northern Ontario, is a treasure trove of critical minerals and has long been discussed as a future powerhouse of Canadian mining.

Ontario’s provincial government is spearheading the region’s development and is moving fast with legislation intended to speed up and streamline that process. In Ottawa, there is agreement between the Liberal government and Conservative opposition that the Ring of Fire needs to be developed to bolster the Canadian economy and national trade strategies.

Whether Canada comes away from the negotiations with the US in a stronger or weaker place will depend on the federal government’s willingness to make hard choices. One of those will be ramping up development, which can just as easily excite local communities as it can upset them.

One of the great drags on the Canadian economy over the past decade has been the inability to finish projects in a timely manner, especially in the natural resource sector. There was no good reason for the Trans Mountain pipeline expansion to take over a decade to complete, and for new mines to still take nearly twice that amount of time to be completed.

Canada is already an energy powerhouse and can very easily turn itself into a superpower in that sector. With that should come the ambition to unlock our mineral potential to complement that. Whether it be energy, water, uranium, or minerals, Canada has everything it needs to become the democratic world’s supplier of choice in the modern economy.

Given that world trade is in flux and its future is uncertain, it is better for Canada to enter that future from a place of strength, not weakness. There is no other choice.

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