"And I think that's both a good thing for the world and a good thing for Amazon as a business," he said. "Wall Street is always too biased toward short-term profitability and biased against long-term growth."
Tim Cook 'courageous'
Thiel also praised Apple CEO Tim Cook for his decision to announce publicly that he is gay.
"It was a very courageous move on his part," he said. "I think it's always good for gay people to come out, but it's also understandable why people might choose not to do so."
Read MoreApple's Tim Cook: 'I'm proud to be gay'
U.S. 'in the Middle Ages'
Asked to comment on the recent U.S. midterm elections, which saw control of the Senate go to Republicans, Thiel criticized the nation's science and technology policies.
"I'm probably somewhat more sympathetic to the Republicans because I care a lot about the fiscal issues, but I think as far as technology goes, both parties are in the Middle Ages," he said. "They don't understand that solar panels don't work at night. Or that wind doesn't work when the wind doesn't blow."
Government, he added, had become "a reactionary force in our society. It's basically something that slows down technology, that regulates it and stops it from happening."
Read MoreThiel: We are in a government bubble of massive size
Were he to spend more time in Washington, Thiel said that he "would be endlessly frustrated by the gridlock, how nothing ever gets done, how problems are never solved.
"And so, I spend my focus in Silicon Valley, where I think people are working on solving real problems and are really working on building a better future."