> ordinary citizens are too stupid to vote in their own best interest

And the oligarchs have the best interest of the citizens in mind? If not, I don't understand the argument.

I don't think they care about the citizens either. That's not the point. I'm sure others have their own interpretations, but everything I gather from Thiel's books, podcasts, interviews, etc suggests that he believes he's part of a group of intellectuals that are actively working towards technological advancement for the benefit of himself and others like him. We - as ordinary citizens - are in his way. He's totally fine with "leaving us behind" so to say and that's his sell to other powerful elites: they can usher in his grand vision or rot with the rest of us.