Axios: Venture capitalist Ben Horowitz dumps Trump, plans "significant" donation to Kamala Harris

[Dennis Donovan]

Dan Primack
NEW: Venture capitalist Ben Horowitz dumps Trump, plans "significant" donation to Kamala Harris

6:36 PM · Oct 4, 2024

Axios - Scoop: VC titan Ben Horowitz dumps Trump, donates to Kamala Harris

Dan Primack

Venture capitalist Ben Horowitz and his wife Felicia plan to make a "significant" personal donation to Kamala Harris' presidential campaign, Axios has learned.

Why it matters: Horowitz and business partner Marc Andreessen stunned Silicon Valley in July by endorsing and donating to Donald Trump, saying he was the best candidate for technology startups.

-At the time, President Biden was still running for reelection.

Behind the scenes: Horowitz announced his change of heart via an email sent on Friday to Andreessen Horowitz employees.

-He notes that he and Felicia have known Harris for more than a decade, and been "a great friend to both of us over that time."

-Horowitz adds that he is "encouraged" by conversations with Harris around what his firm refers to as the "Little Tech Agenda," but cautions that her campaign has yet "stated their intentions" formally. As such, the firm itself has not changed its position..

-Overall, he continues to believe that "the Biden Administration has been exceptionally destructive on tech policy across the industry."

/snip

Link to tweet

[PedroXimenez]

1. he used to think Trump was going to win

now he thinks Harris is going to win.

[ananda]

2. Yep, tryin' to get on her good side.

...

[Dennis Donovan]

3. Doesn't matter to me, we have a donation from a rich tech guy. That's usually the GOP's trough. n/t

[Blue Full Moon]

4. But what does he want

[Dennis Donovan]

5. Primarily, her ear. n/t

[Blue Full Moon]

8. Not for the good

[Ocelot II]

6. What's that thing on the woman's head?

[Metaphorical]

7. This likely has to be freaking Trump out

Horowitz and Andreesen has become one of the dominant VC tech firms in Silicon Valley, and to make a change of this magnitude is likely to have a lot of other VC firms and investment funds in the Bay Area rethinking their positions towards Trump as well. I don't believe for a moment that they are doing this out of altruism, mind you; it has everything to do with recognizing that 1) Trump is NOT winning, and 2) Harris is likely to be more amenable policywise, whereas Trump is quite literally for sale to the highest bidder.

There's another aspect to this that's worth noting. Biden gained few friends in Silicon Valley by encouraging the Federal Reserve to raise interest rates, though IMHO it was something that needed to be done to tame inflation. Harris, on the other hand, will be inheriting an economy where rates are going to be going down, and that gives her latitude to preside over a rising economy if (hopefully) she wins.

[DavidDvorkin]

9. That picture is freaking me out.