Venture capitalist and tech investor Peter Thiel has criticized US technology giants Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) and Apple inc(NASDAQ: AAPL) as well as the cryptocurrency Bitcoin (BTC) for working against US interests and in favor of China, according to a Bloomberg report.
What happened: Speaking at a Richard Nixon Foundation virtual event, Thiel said he thinks Bitcoin is undermining America.
“I wonder if Bitcoin should also be viewed in part as a Chinese financial weapon against the US at this point,” said Thiel. quoted as said.
The statement appears to represent a change of position by Thiel, the co-founder of PayPal Holdings Inc. (NASDAQ: PYPL) – who is also a major investor in Bitcoin companies.
During the conversation, which focused largely on US-China relations, Thiel reportedly said he had asked employees of Google’s artificial intelligence division whether the company’s technology was being used in China’s Xinjiang region, but she said they didn’t know. Thiel has previously accused Google of thwarting US interests in 2019.
Thiel also called for more US scrutiny of Apple, as the company makes most of its devices in China, where it has a massive supply chain, the Bloomberg report said. Thiel, an early investor in Facebook Inc.(NASDAQ: FB) criticized the social media giant for refusing to take a firm stand against protests in Hong Kong last year.
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Why it matters: Apple relies heavily on China for its revenues and its supply chain Greater China accounts for 19% of Apple’s total sales and is also the main hotspot for its global supply chain. Apple has previously been accused of being complicit in labor law violations by its suppliers in China.
In 2019, Thiel had said the FBI and the CIA should investigate Google to see if Chinese spies have infiltrated the company’s investigation of artificial intelligence, according to a report from CNBC.
In addition, Google invested $ 550 million in a Chinese e-commerce company JD.com Inc. (NASDAQ: JD) in 2018 at a time of tensions between the US and Chinese governments.
Price promotion: Apple shares closed 1.3% higher on Wednesday at $ 127.90 and further rose nearly 0.4% during the after-hours session.
On the same day, Google shares closed 1.1% higher at $ 2,249.68 and added a further 0.5% during the off-hours session. Facebook shares rose 2.2% to $ 313.09 and added a further 0.3% during the off-hours session.
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Photo by Dan Taylor on Flickr
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