Interview with Ron Bailey at Reason. This is from last September. Excerpt:

Reason: Why are you supporting the Singularity Institute?

Thiel: I think it’s a group of really smart people working on an important problem. I think that the basic rule on philanthropy that I have is that I want to donate money to causes that are worthwhile but where there are no market-based mechanisms for them. There is a category of things that would benefit all of humanity but where the benefits are very diffuse and the costs are concentrated. Maybe it’s very long-term. So I focused my philanthropy on things with a 20-, 30-, 40-year horizon. The horizons are too long for a for-profit company to take advantage of, and the government and universities are not pushing things because maybe it’s too unconventional or it doesn’t easily fit into a particular political agenda or vision of the future. Those areas are probably systematically underfunded. It may be the only area of philanthropy that’s underfunded.

Continue.