Thiel calls for improving research grant, regulatory processes to enhance scientific innovation

"“There's a story we can tell about what happened historically in how processes became bureaucratized. Early science funding was very informal – DARPA's a little bit different – but in the 1950s and 1960s, it was very generative,” said Thiel. “You just had one person [who] knew the 20 top scientists and gave them grants – there was no up-front application process. Then gradually, as things scaled, they became formalized.

“One question is always how things scale,” he continued. “There are certain types of businesses where they work better and better at bigger and bigger scales,” he said, pointing to big tech.. “And, if big tech is an ambiguous term, I wonder whether big science is simply an oxymoron.”

He then cited the success of major scientific programs – such as the development of the atomic bomb in the Manhattan Project, the Apollo space program and Watson and Crick’s discovery of DNA – that hinged on having “preexisting, idiosyncratic, quirky, decentralized scientific culture[s]” and were accelerated rapidly by a major infusion of cash."