Peter Thiel Explains Why He’s Backing Hulk Hogan’s Gawker Lawsuit

– Peter Thiel has discussed why he is financially backing Hulk Hogan’s lawsuit against Gawker Media. Thiel, who was publicly outed as gay by one of Gawker’s sites in 2007, spoke with the New York Times and said he’s paying Hogan’s legal expenses because he wants the lawsuit to serve as a deterrant.

“It’s less about revenge and more about specific deterrence,” Thiel told the site. “I saw Gawker pioneer a unique and incredibly damaging way of getting attention by bullying people even when there was no connection with the public interest… I can defend myself. Most of the people they attack are not people in my category. They usually attack less prominent, far less wealthy people that simply can’t defend themselves.”

Thiel said that the rumored $10 million he’s paid out is “roughly in the ballpark” of the actual number and that he doesn’t expect to make money on it. He considers the move to be “one of my greater philanthropic things that I’ve done.”