Somewhere I remember Thiel explicitly explaining this (ie, saying “we need to repair the intergenerational compact so all these young people stop turning socialist”), but unfortunately I don’t remember where he said this so I don’t have a link.
https://www.techemails.com/p/mark-zuckerberg-peter-thiel-millennials
https://www.techemails.com/p/mark-zuckerberg-peter-thiel-millennials