According to a Bloomberg report, Thiel's support of Trump is hurting his business. At least one startup founder says he regrets taking cash from a Trump supporter and a prominent diversity group is now refusing to work with any company associated with Thiel.
Ryan Peterson, the SEO of a freight software provider called Flexport said in June that he would have "probably not" taken Thiel on as an investor if he knew the billionaire supports Trump.
Ellen Pao, a former partner at Kleiner Perkins Caufield & Byers, said that her diversity group called Project Include will sever all ties with Y Combinator given Thiel's status as a part-time partner. On the other hand, Sam Altman, president of Y Combinator, stands by Thiel's right to support who he chose.
There's More
Arlan Hamilton is a managing partner at Backstage Capital and she passed on taking on a potential investor looking to invest $500,000 because the person refused to disavow and sever the ties this person has with Thiel.
Granted, $500,000 is a tiny amount in Silicon Valley, but Hamilton's one-year-old seed fund only has $5 million in commitments. Despite a single investment of what amounts to 10 percent of commitments, the manager said it was an "easy decision" to reject the offer.
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