Peter Thiel to Silicon Valley: 'Unethical' not to help U.S. military compete with China

Billionaire Silicon Valley investor and PayPal co-founder Peter Thiel called on American technology companies to step up innovation and resist pressures to reject military partnerships, arguing the U.S. is lagging behind China in the technology race. "The China dynamic has changed things tremendously in the last few years. China is going to force us to compete, to think much harder, [about] how we can deploy technologies much faster," Thiel said during a discussion at the Reagan National Defense Forum on Friday, which was livestreamed on Fox Nation. Thiel was commenting on a study by data and analytics company Govini, which showed that the U.S.'s share in global research and development spending declined from more than 60 percent in 1967, to less than 30 percent today. Meanwhile, China's share of the world R&D spending has increased significantly and today China has a larger share than the U.S. did at the height of the Cold War. "In the 90s and maybe still in the 2000s, we thought the Cold War was over.