In 2004, Peter Thiel did something quite extraordinary.
Just three years after the dot.com crash, before Wikinomics said change was coming, before Google's IPO and while industry was still undecided on Social Media, Peter decided to invest half a million dollars in a small unproven play called Facebook. Furthermore, through all the ups and downs and failed experiments at Facebook he continued to believe in the idea and the founders.
Peter manages Founders Fund, and according to published reports he stands alone as the first outsider to invest in the Facebook venture. Yesterday, he also became famous for another reason. According to published reports, Peter's net worth doubled to $2.7 billion US dollars.
Perhaps you're invested in an internet play that is moving more slowly than you wish. High value internet plays seem to have different profiles and timing than many of us expect. Read the Founders article on the Future by Peter's partner, Harvard Business Review writer Bruce Gibney for a better perspective on VCs, good investments and the strategies they use at Founders Fund.
I'm sure Peter probably had some angst along the way and he may not have arrived where he expected, but you can bet yesterday was memorable.
Meet other Facebook Billionaires
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