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TechCheck

JD Vance Visits Silicon Valley 7/29/24

TechCheck

CNBC

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

4.566 Ratings

🗓️ 29 July 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

In Palo Alto, the epicenter of tech and VC money, JD Vance is headlining a fundraiser tonight hosted by a cryptocurrency executive where tickets are going for as much as $50,000. It's another sign of Silicon Valley elites, which have traditionally backed the left, now opening their pocketbooks for the Trump-Vance ticket.

Transcript

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0:00.0

GOP Vice Presidential nominee J.D. Vance is headlining a fundraiser tonight in the heart of Silicon

0:07.0

Valley.

0:08.0

Kate Rooney joins us with the latest on the Battle for Tech Executive's Pocket Books. That is for today's tech check and

0:14.8

Kate it seems like there's been pretty sizable sea change over the last four years.

0:19.8

Yeah Leslie that's what it feels like we are here just a few miles from where J.D. Vance and that fundraiser is going to be hosted tonight.

0:26.0

This is the epicenter of tech and venture capital money, which has traditionally flowed to the left and to more liberal candidates.

0:32.0

But this year, as you mentioned, there are some shifting to the right and more liberal candidates. But this here, as you mentioned,

0:33.4

there are some shifting to the right

0:34.7

with some high profile donors now

0:36.6

opening their pocketbooks

0:38.0

for the Trump Vance ticket.

0:39.5

And according to an invitation seen by CNBC tonight's event

0:42.2

is being hosted by

0:43.0

cryptocurrency executive Mike Belchi. Tickets you can see there range from 50,000

0:47.2

bucks for the host committee to around 3,000 for just a seat and this comes off of

0:51.3

Trump headlining major Bitcoin conference over the weekend.

0:54.1

One executive I spoke to was attending the event tonight has been a registered Democrat for decades,

0:59.1

they said, and now plan to give to the GOP this year.

1:01.8

They're saying that it's a result of the current

1:04.0

administration's crackdown on cryptocurrency. Trump and Vance are openly now

1:07.9

embracing that industry. This person told me their tech peers have been

1:11.2

quietly shifting to the right because of certain

...

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