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TechCheck

Influential VCs Turn to Trump 7/17/24

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.566 Ratings

🗓️ 17 July 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

The latest in Silicon Valley to come out for former President Trump are Marc Andreessen and Ben Horowitz, two of the most influential names in the startup ecosystem. They point to overregulation of tech and take issue with Biden’s proposal on taxing unrealized capital gains, and say they believe that a Trump administration would help innovation flourish.

Transcript

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0:00.0

Some momentum for former President Trump continuing to build over in Silicon Valley as more tech elites

0:05.2

throw their support behind him and his running made J.D. Vants, a dirtibosa has more in today's

0:10.0

tech check. As David Sachs said said D water's warm.

0:13.4

Yep you are certainly seeing some shifting tides here Carl

0:17.1

the latest to come out for the former president are Mark Andresen and Ben Horowitz

0:21.2

and it's hard to think of two more influential names in the startup ecosystem on a

0:25.5

podcast yesterday they said it comes down to one primary issue what's better

0:30.4

for tech specifically little tech?

0:33.6

The future of our business, the future of technology,

0:39.0

new technology, and the future of America is literally at stake

0:42.1

with some of these, I just say like really misguided

0:46.8

and difficult policies so here we are and for Little, we think Donald Trump is actually the right choice.

0:57.0

Yeah, so underscoring these shifting political wins in Silicon Valley, the pot actually starts with Ben Horowitz apologizing to his

1:05.6

friends and to his mom for supporting and saying nice things about Trump. They

1:09.8

pointed to over-regulation and potentially needless taxation in the Biden administration

1:15.0

and their belief that a Trump administration would help innovation flourish.

1:19.2

At a recent dinner with the former president they said they told they said that Trump told them

1:24.6

that AI is scary but we absolutely have to win because if we don't China does

1:28.9

and that would support a new report from the Washington Post that Trump allies are drafting a plan to

1:34.4

roll back AI regulation which of course would be good for little tech.

1:38.0

Now that also hits on another key theme you're looking at it right here

1:41.8

access and entitlement.

...

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