Problem is not with nerds or Silicon Valley, even if Thiel is a lunatic. Problem are, and always were, obscenely wealthy people destroying the society that created them. In the world where greed is not considered sin anymore, or even a character flaw, they don't even need to pretend anymore.
Crazy to live in a time less moral than the robber baron age. That said, our society made a joke of children making our shoes in miserable conditions, so we have been conditioning ourselves to be ok with this on our own and for a long time.