The reason the student protests of the 1960s didn't lead to political correctness was precisely that — they were student movements. They didn't have any real power.
I don't know what Graham thinks 'political correctness' would have looked like in the 1960s – most Americans still thought women's lib was a joke, many Americans were fighting to preserve segregation, and nobody had heard of such a thing as a gay rights movement.Those people know the restrictions they push for won't apply to them, they are too powerful, quite literally above the law.
Nevertheless, Thiel donated a lot to Trump's campaign, one of its goals being a federal ban on gay marriage and other restrictions of the freedom of LGBT people.