Because new technology is as Thiel often quips limited to the world of bits rather than the world of atoms. Paul Krugman once asked, if you go into an average house right now and you take out all the screens, could you tell that you're not in the 80s? Gordon in the Rise and Fall of American Growth gives a similar example, what if you went into a time capsule between say 1890 and 1950 compared to 1960 and 2010? In one…
50 years ago, the average person did not cross the Atlantic at all. Flights were so expensive they were completely inaccessible to the vast majority of people.
Today, most of the middle class can eventually afford a European vacation, if it's something they want to prioritize. I'm not rich and I've been to Europe three times in my life.
The way in which we travel is also significantly safer and more efficient. For as much as I hate airports and airlines, I can't deny that the state of things today is still at least an order of magnitude better than "decades ago".