Billionaire investor Peter Thiel is reportedly leaving Silicon Valley to start a new media outlet in Los Angeles.
In a Friday report on Thiel's impending move, the Wall Street Journal quoted a source close to Thiel who said the new media outlet will be right-leaning in its aim to promote discussion and form a sense of community around certain conservative topics.
Thiel's move is reportedly motivated in part by his frustration with the tech industry's liberal politics. A source told CNNMoney on Friday that Thiel sees Silicon Valley as increasingly "sclerotic" and "mono-cultural."
"L.A. is also less out of touch, and it's a better place to connect with the rest of the country," the source said.
Thiel, a PayPal cofounder who has lived in Silicon Valley for four decades, will bring Thiel Capital, his investment firm, and The Thiel Foundation, his private philanthropy, to Los Angeles with him, according to reports.
Backstory: Silicon Valley is famously unfriendly to conservatives, and Thiel's vocal support for President Donald Trump has made him a target. The Journal reported Thursday that Facebook CEO Mark Zuckerberg asked him to consider resigning from the company's board last summer. Netflix CEO Reed Hastings, another board member, had reportedly criticized Thiel for "catastrophically bad judgment" in supporting Trump.
Thiel's interest in the media is nothing new. As a student at Stanford University in the 1980s, he helped start a student newspaper to promote conservative views. Last month, he made a bid to buy Gawker, the gossip website he helped bankrupt last year over its outing of him as gay. Rumors have recently swirled about Thiel and Breitbart-backer Robert Mercer's plans to start a company with Fox News personalities.