You Have to Be an Exceptionally Bad President to Lose Silicon Valley

[mystery-ak]

You Have to Be an Exceptionally Bad President to Lose Silicon Valley
Matt Vespa


You must be a deplorable president to lose one of the most reliable bases of support for Democrats: Silicon Valley. Joe Biden lost these guys, which is pathetic. It’s a cadre of billionaire leftists who would fund any Democrat to the hilt. So, what caused so much love to be lost in one term?

They hate Biden’s policies that entail the reining of cryptocurrency and new tax proposals. Yet, overall, Biden is bad for business, which hurls a rock through the glass house narrative this administration has created regarding how they’re building the greatest period of economic growth known to man. Some have voiced support for Trump, others are hosting fundraisers for the former presidents, and others are bashing Biden on social media but stopping short of endorsing Trump in this year’s cycle. Either way, the tech sector and venture capitalism have seen enough of Joe’s Build Back Better (via NY Post):

   

Some Silicon Valley venture capitalists have begun to turn against President Biden while openly touting their support for former President Donald Trump — a sea change for an industry that has overwhelmingly supported Democrats in years past.

    Prominent moguls such as David Sacks, Chamath Palihapitiya, Marc Andreessen and Shaun Maguire have grown disillusioned with signature Biden policy proposals such as his call for a 25% “billionaire tax” as well as antitrust crackdowns waged by the Federal Trade Commission.

    “It’s impossible to support Biden,” Keith Rabois, an early executive at PayPal who also played a role in the growth of LinkedIn, Square and Slide, told the New York Times.

    […]

    Tech executives are also unhappy with the stringent regulations imposed on the cryptocurrency sector by Gary Gensler, Biden’s pick to head the Securities and Exchange Commission.

    […]

    Last year, the FTC sued Amazon, accusing the e-commerce giant of being a monopoly.

    Andreessen, founder of powerhouse VC firm Andreessen Horowitz, recently said there are “real issues” with the Biden administration.

    A second Trump administration would be staffed by “very different kinds of people,” particularly at the SEC and FTC, Andreessen said in a recent podcast interview.

    Ben Horowitz, co-founder of Andreessen Horowitz, wrote in a blog post last year that his company would support any politician who backed “an optimistic technology-enabled future.”

    Sacks, the entrepreneur and investor who made his fortune as chief operating officer at PayPal during its early days, plans to host a fundraiser for Trump as well as interview the former president on his “All In” podcast.

more
https://townhall.com/tipsheet/mattvespa/2024/05/25/silicon-valley-turns-on-joe-biden-n2639532

[PeteS in CA]

If Trump gets as much as 35% of Santa Clara County's vote it will gast my flabber. There have been Silicon Valley execs boosting Dem Presidential candidates at least since the execs of Tandem Computers and Silicon Graphics hosted speeches at their companies for Bill Clinton in 1992. Both companies are long defunct, so don't worry if you've never heard of them. Tandem (not Tandy Corporation, owner of Radio Shack) was my employer at the time, so I was less than thrilled (attendance was voluntary, of course).