FROM Roy Simon
Peter Thiel, Revenge and Litigation Finance Peter Thiel is a man of many interests. He made billions of dollars as a co-founder of PayPal and an early investor in Facebook. Lately he’s been spreading the wealth in interesting ways. Thiel gives fellowships to teenagers who drop out of school to start companies; he co-founded the Seasteading Institute, an organization that wants to create cities at sea, out of the reach of any government; he’s a pledged delegate for Donald Trump. And news surfaced this week that he’s bankrolling a legal campaign to destroy Gawker Media. As it turns out, Thiel secretly funded Hulk Hogan’s invasion-of-privacy lawsuit against Gawker after the site posted a sex tape of Hogan. A jury awarded Hogan $140 million dollars. According to the New York Times, Thiel is also supporting other cases, though he won’t disclose what they are. He’s not the only person to secretly back a lawsuit like this, though. The practice of litigation finance is becoming more common.
Trump says goodbye Paris Accord: What does it mean for U.S. and the planet? President Donald Trump announced Thursday that the U.S. will withdraw from the Paris Climate Accord, the landmark international agreement to limit greenhouse gas emissions. Trump was to renegotiate a new deal, but will that happen?
Securing Public Spaces, Super Wealthy Asians Vehicles are increasingly being used as weapons, as seen in the London Bridge attack over the weekend and in New York’s Times Square last month. The Compton-based company Calpipe is designing security bollards to help make public spaces safer. And novelist Kevin Kwan satirizes the “crazy rich” Asian jet set and their luxurious tastes in his latest book, “Rich People Problems.”
Previewing James Comey's blockbuster testimony Former FBI director James Comey testifies Thursday in front of the Senate Intelligence Committee, but his opening statement has been released. In it, he says he felt pressured by Donald Trump to declare loyalty to him and publicly clear him of any wrongdoing in the Russia investigation.