Peter Thiel's acknowledgement and explanation for financially backing a lawsuit that could put Gawker Media out of business unleashed a torrent of reaction Thursday, some praising him for taking on a "bully" publisher and others worried that the Silicon Valley billionaire is a threat to the First Amendment. First, some background: In October 2012 Hulk Hogan filed two lawsuits against Gawker for publishing some excerpts of a sex tape involving Hogan and the wife of a friend.