In 1998, Peter Thiel cofounded PayPal with Max Levchin. In 2002, Thiel sold PayPal, used his earnings to launch Founders Fund, and following subsequent investments, became a billionaire. Thiel believed that society was built on technological revolution, and he was frustrated by a de-prioritization of scientific progress. This led to the creation of the Thiel Foundation. The Foundation focused on three ventures: Imitatio, Breakout Labs and The Thiel Fellowship. The Foundation’s investments were often controversial, which Thiel welcomed.

This case is intended for use in a course on philanthropic innovation, social impact, or funding strategies. It highlights the Thiel Foundation's strategy across its seemingly disparate program areas.