Silicon Valley legend and college-skeptic Peter Thiel has an opinion on just about everything. And people are always interested in what the PayPal co-founder and early Facebook investor has to say. Last week Thiel told CNBC that Twitter was badly mismanaged by executives who "probably" smoke too much pot. He wasn't kidding, but he meant it as a compliment. The second part of what he said is this: "[Twitter] is such a solid franchise it may even work with all that."
In other words, Thiel believes Cheech and Chong could run Twitter with Snoop Dogg doing the books and it would still beat Wall Street expectations--just like CEO Dick Costolo's Twitter did in the second quarter. Thiel must be long Twitter in his portfolio--Silicon Valley has a pretty good record of companies whose CEOs were marijuana advocates. And if anybody could run Twitter and not screw it up, there is essentially no downside.
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