Peter Thiel, an early investor in Facebook, was speaking on American cable channel CNBC when he suggested that “there’s a lot of pot smoking going on” at Twitter's headquarters.
Twitter’s hard to evaluate. They have a lot of potential. It’s a horribly mismanaged company.There’s probably a lot of pot smoking going on there. But it’s such a solid franchise that maybe it works even with all that.
Thiel is a recognised figure in the US business media, known for strong libertarian views that led him to investing over $1m in the Seasteading Institute, which aims to build autonomous dwellings at sea outside of government control.
In 2012 he made $400m (£244.86m) after selling his 20 million shares in Facebook - originally purchased for just $500,000.
Thiel's disparagement of Twitter shouldn't come as too much of a surprise. After all, his account on the social media platform currently averages one post every five years.
Early Twitter investor Bijan Sabet hit back at Thiel, tweeting: “I've never met Peter but this is so nasty, silly and wrong”, with a link to his comments attached.
Jason Goldman, a former executive at Twitter, also poked fun at Thiel and his political views:
Yo but how high were you when you decided to go live on an ocean platform. "No not like. It *is* Waterworld man." pic.twitter.com/rb3DHOfusQ— Jason Goldman (@goldman) September 17, 2014