Venture capitalist and tech investor Peter Thiel has criticized the US tech giant. Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) and Apple Company… as reported by Bloomberg.
What happened: During an appearance at a virtual reality event hosted by the Richard Nixon Foundation, Thiel said he thought Bitcoin could undermine America.
“I wonder if at this point Bitcoin should be viewed as China’s financial weapon against the United States,” Thiel said.
This statement appears to reflect a change in the position of co-founder Thiel. PayPal Holdings Inc. (NASDAQ: PYPL), a large investor in Bitcoin.
During the talks, largely focused on US-China relations, Thiel reported that he asked employees working in Google̵7;s artificial intelligence division if the company’s technology is being used in China’s Xinjiang district. But they said they didn’t know Thiel previously accused Google of working against the interests of Americans in 2019.
Thiel also called for more scrutiny of Apple in the United States as most of the device maker in China has a large supply chain, according to Bloomberg Thiel, an early investor in Facebook Inc.(NASDAQ: FB) criticized the social media giant for refusing to stand up to protests in Hong Kong last year.
See also: The Rich Get Richer: Jeff Bezos, Elon Musk Top Forbes’ 2021 List of World’s Billionaires
Why is this important: Apple relies heavily on China on revenue and production supply chains.. Greater China accounts for 19% of Apple’s total revenue and is also a major hotspot for global supply chains.Apple was previously accused of engaging in labor law violations by suppliers in China.
In 2019, Thiel said the FBI and the CIA should investigate Google to determine if Chinese spies have infiltrated the company’s research on artificial intelligence, according to CNBC.
In addition, Google has invested $ 550 million in a Chinese e-commerce company. JD.com Inc. (NASDAQ: JD) in 2018, during a time of tensions between the US government and China.
Price action: Apple shares closed 1.3 percent higher Wednesday at $ 127.90 and gained nearly 0.4 percent during after hours.
On the same day, Google shares closed 1.1 percent higher at $ 2,249.68 and gained an additional 0.5 percent during after hours. Facebook shares rose 2.2 percent to $ 313.09 and was up 0.3 percent more during after hours.
Read next: iPhone users will be able to keep track of their gadgets that aren’t made by Apple.
Photo courtesy of Dan Taylor on Flickr.
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