The past year has revealed enormous challenges in Silicon Valley, but the political divide around Peter Thiel isn't one of them, Roger McNamee, co-founder of Elevation Partners, told CNBC's "Squawk Alley" on Tuesday.
Misogyny and greed are both rampant in tech's heartland, said McNamee, a technology investor. But McNamee said he's not at all bothered that Thiel is a Trump supporter.
"I think he's right in the diagnosis, wrong in the prescription for what to do about it," McNamee said. "But that's my political view against his, and we're both entitled to those views."
The bigger issue? Many entrepreneurs are now financially motivated, rather than by an optimism to take risks and improve the world, McNamee said.
"I think people in Silicon Valley are still open to change," McNamee said. "But the things that they're working on aren't as valuable as the things people used to work on. And sadly, we've seen far more fraud in the past couple of years than I can remember any time in the 34 years I've been here. And so I think people just want to get rich now, and scams have become part of what goes on in Silicon valley and that troubles me deeply."