Not to nitpick, but that basic dynamic -- the prospect of decades of monopoly profits driving innovation -- was long acknowledged even when the US constitution was written; it's not just Peter Thiel's thing.
"To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries."
Leveraging (especially pooling) the massive R&D resources of large, secure companies, while also ensuring that they stayed large and secure, was a big part of how Japan went from a poor, ruined post-war country to a tech powerhouse so quickly. It's my personal go-to example when faced with the assertion that low-intervention, high competition markets are always the best idea, without qualification.
"To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries."
https://en.wikipedia.org/wiki/Copyright_Clause