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.
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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.
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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.
The NY Post added that Sacks once thought Trump should be disqualified from running again over the January 6 incident. Biden’s America is so atrocious that it led him to change his mind about the former president. The buyer’s remorse people are having about Biden is real.
Biden is facing the three-headed dragon ahead of his debates with Trump: the economy, foreign policy, and immigration. He’s failing in all three areas. Immigration, already a hot topic, could gain new life as two Jordanian nationals, one of whom might have been on the terror watch list, were caught earlier this month trying to gain unlawful access to Marine Corps Base Quantico.
He’s done the impossible in the Middle East, which is getting Jews and Muslims to hate him. Hate might be a strong word, but American Jews are certainly questioning his Israeli policies, which include cutting off arms shipments over the Rafah operation. At the same time, Muslim voters feel this administration is enabling genocide. The world is aflame, and Mr. Magoo is at the helm.
On the economy, inflation continues to gnaw at American working families. Silicon Valley, a once die-hard Democratic Party hub, is looking to redirect its cash to Make America Great Again because this president is anti-growth, anti-business, and laughably out-of-touch.
Joe was never made of presidential timber. We see more signs every day.