Peter Thiel, the billionaire venture capitalist, reaffirmed his commitment to Donald Trump on Monday in a speech at the National Press Club in Washington, D.C. 

“What Donald Trump represents isn’t crazy and it’s not going away,” said Thiel.

During his hour long appearance, Thiel blasted government incompetence and arrogance in Silicon Valley. The gay tech entrepreneur cited examples of growing income inequality as reasons why an outsider like Trump must be elected President. 

RELATED: Thiel Declares 'Proud To Be Gay' At GOP Convention 

“We’re voting for Trump because we judge the leadership of our country to have failed,” Thiel said. “This judgement has been hard to accept for some of the country’s most fortune socially prominent people. It’s certainly been hard to accept for Silicon Valley where many people have learned to keep quiet if they dissent from the coastal bubble.”

Thiel, who had a primetime speaking slot at this year’s Republican National Convention, slammed the Advocate Magazine for rejecting diversity in favor of political purity. 

“The Advocate, a magazine which once praised me as a gay innovator even published an article saying that as of now I am ‘not a gay man’ because I don’t agree with their politics. The lie behind the buzzword of diversity could not be made more clear: If you don’t conform then you don’t count as diverse no matter what your personal background.”

Thiel, 48, was outed by Gawker, a news organization he has since sued into bankruptcy. A San Francisco resident who emigrated from Germany, Thiel came in at No. 246 on Forbes Magazine’s annual list of America’s 400 Richest People list with a net worth of $2.7 billion.