Peter Thiel has been behind some prominent technologies: he cofounded PayPal and was an early investor in such companies as Facebook, LinkedIn, and Tesla Motors. But he’s convinced that technological progress has been stagnant for decades. According to Thiel, developments in computers and the Internet haven’t significantly improved our quality of life. In a new book, he warns entrepreneurs that conventional business wisdom is preventing them and society as a whole from making major advances in areas, such as energy or health, where technology could make the world a better place—though he doesn’t offer detailed answers on how we might unlock such breakthroughs. Thiel spoke to MIT Technology Review’s San Francisco bureau chief, Tom Simonite, at the offices of his venture capital firm, Founder’s Fund.