Silicon Valley billionaire Peter Thiel is throwing his financial muscle behind an “Olympics on steroids” — whose organizer boasts that athletes will dope “out in the open and honestly.” Thiel, who made his fortune as an early investor in tech startups like PayPal and Facebook, is backing the Enhanced Games, which will actively encourage athletes to use performance-enhancing drugs. The venture — aimed at aiding research into nutritional supplements and biohacks that push the boundaries of human performance — is the brainchild of Dr. Aron D’Souza, a lawyer by training who famously conceived Thiel’s lawsuit against Gawker Media. He plans...