Silicon Valley’s biggest investors are backing former President Donald Trump after expressing disgust at President Joe Biden’s anti-growth policy proposals.
“It’s impossible to support Biden,” said Keith Rabois, an early leader at PayPal who also played key roles at LinkedIn, Square and Slide. SaidLaBois said that while he is no fan of Trump, he will work to ensure Republicans take control of the House and Senate.
Other prominent tech moguls, including David Sachs, Chamath Palihapitiya, Marc Andreessen and Sean Maguire, have also balked at Biden’s proposals, which include a 25% “millionaire’s tax” and antitrust crackdown enacted by the Democratic majority at the Federal Trade Commission (FTC).
Other tech executives also spoke out against repressive regulations imposed by Securities and Exchange Commission Chairman Gary Gensler.
Andreessen, founder of venture capital giant Andreessen Horowitz, said the Biden administration has “real problems.” He said a second Trump administration would have “very different kinds of people” in place at the SEC and FTC.
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Andreessen Horowitz’s other founder, Ben Horowitz, said the firm would support any lawmaker who believes in “an optimistic tech-enabled future.”
Sachs, the former chief operating officer of PayPal, is set to host fundraisers for Trump and will interview the 45th president on his podcast.
“I have more disagreements with Biden than I do with Trump,” Sachs said at a technology conference last week.
“This is a good reason for Silicon Valley to think hard about who they’re voting for,” Sachs said, citing Biden’s onerous tax proposals that would attack startup founders who want to offer stock options to their employees.
Sachs recently attended an “anti-Biden” dinner with former Twitter owners Elon Musk and Peter Thiel.
Palihapitiya, founder of venture capital firm Social Capital, will co-host the fundraising event with Sachs.
“If you voted for him four years ago, you would have had to apologize,” said Delian Asparoukhov, an investor at Thiel’s Founders Fund. I have written.
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter. Sean Moran 3
