In 1987, after around 500 students participated in a march led by Jesse Jackson'sRainbow Coalition, the students were inspired to put forth the Rainbow Agenda, a list of the concerns that the minority students wanted the institution to address.[4]The Stanford Review was founded to provide an "alternative viewpoint" to what was expressed in the Agenda, by the "vocal few", as they were referred to in the publication's first issue, dated June 9, 1987, in an article titled "Stanford Review is here to stay". The founders felt that views being expressed were inconsistent with views held by majority of the student body. It aspired to be a place where "rational debate" could exist at the university.[5][6][7]
In 1995, the paper prevailed in a free-speech lawsuit against the university's speech code. The court ruled that the code which banned insults that were racially and/or gender-motivated was unconstitutional.[5] In a 2016 letter to the editor of The Stanford Daily, the managing editor wrote that "the entire purpose of The Review is to publish unpopular views".
The letter also clarified that although the newspaper serves as an outlet for writers, whether they are a staff writer or otherwise, The Review itself may or may not have a position on the subject matter.[8]
Incorporated in 1990 as nonprofit 501(c)(3), a large portion of the publication's revenue is generated by fundraising efforts and alumni donors. While Thiel also makes financial contributions, he has hosted staff reunions at his home, and meets with the editors quarterly as a way to stay current with campus activities in general.[5]