>'Why Silicon Valley Is Turning Red'
>'The Surprising Shift as Tech Titans Bet Big on Trump'
>
><https://tippinsights.com/why-silicon-valley-is-turning-red/>

Horseshit. More speculation, lies and distortions from an emeny Russian
propaganda outlet often cited by rightists, but only the America hating
ones.

Trump will lose and end up ending his days in a prison cell.

A few weeks ago, multiple tech investors asked a partner at an early-
stage venture capital firm if she would sign onto VCs for Kamala, an
advocacy group to elect Kamala Harris as president. She didn't sign, not
because she doesn't support Harris (she does) but because she sees no
upside in broadcasting her political intentions.

"We're here to manage your money and make you a lot more of it. We're not
here to comment on anything else," said the partner, who asked to remain
anonymous because she said it felt "off brand" to comment on politics.

Political advocacy, especially for Republicans, used to be largely taboo
in tech, which is centered in some of the bluest areas of the country;
more than 85% of San Francisco voters went for President Joe Biden in the
2020 election.

"The majority of Silicon Valley, whether entrepreneurs or investors, has
always been and remains broadly liberal," said David Hornik, an investor
at Lobby Capital and August Capital. "I have no reason to believe any of
that has shifted."
Advertisement

What has changed is the minority of Republicans in tech � whether
motivated by concerns about regulating cryptocurrency or support for
Israel � have become more emboldened to share their views, which in turn
has caused Democrats to amp up their support for Harris.

"There's been an airing of grievances that we don't normally see out
there," said Leslie Feinzaig, founder of VCs for Kamala.

No one has been more emblematic of the shift than Elon Musk, who endorsed
Trump last month and hosted a rambling interview with him last week on
social media platform, X. The former president has also received
endorsements from famous VCs Marc Andreessen, Ben Horowitz, Doug Leone,
and David Sacks.

After hand-wringing Silicon Valley had gone red, liberal voices like
LinkedIn cofounder Reid Hoffman, Netflix cofounder Reed Hastings, and
venture investor Ron Conway affirmed their support for Harris. More than
800 investors have signed onto VCs for Kamala.
Advertisement

But even Feinzaig, whose day job is managing the early-stage firm Graham
& Walker, is not entirely comfortable being an advocate. She would much
rather be spending her time making deals and helping founders.

"I cannot believe that I, of all people, became a political
spokesperson," said Feinzaig. "We had a no politics rule at Graham and
Walker. We try to just respect all views."

Related stories

Sequoia's Michael Moritz says Trump's Silicon Valley supporters are
making a 'big mistake'

Google, Netflix, and OpenAI execs are hosting a fundraiser for Kamala
Harris
Choosing a VC because of politics

Everyone BI spoke to for this article stressed business still comes
first. However, many also acknowledge politics can't help enter into
decisions about how founders choose to fund their company.

"If their values are not aligned, or in this particular case, if they
know a particular VC is MAGA, they're less inclined to have them on their
cap table," said Divya Kakkad, a partner at Graham & Walker. (Another VC
pointed out many liberal founders would love to get a term sheet from
Sacks' Craft Ventures or Thiel's Founder's Fund.)
Advertisement

Some VCs also blamed the election for an unusually slow summer of
dealmaking. The constant chatter has also dragged down the performance of
some companies, according to Jesse Middleton, a general partner at
Flybridge, an early-stage AI-focused firm.

"The surrounding noise can be a major distraction for founders, affecting
their morale and productivity," said Middleton. "This distraction extends
to both fledgling and established startups, potentially destabilizing
their growth trajectory."

All the attention on the election has also been a factor in companies
delaying their plans to go public until after November, according to
Cameron Lester, global co-head of technology, media, and telecom
investment banking at Jefferies.

"This is a really noisy time with the election," said Lester.
Advertisement

ServiceTitan, a Los Angeles-based startup that makes software to help
tradespeople manage their businesses, was originally targeting this fall
to go public. Now, executives are waiting until after the election
concludes to make any decision, according to a source familiar with the
matter. (ServiceTitan did not respond to a request for comment.)
Limited partners are 'irritated'

The outspokenness of VCs is also causing consternation among the limited
partners who fund venture firms, according to two sources.

"I've always wanted our VCs to just shut their mouths and do their job
and not be political unless they're defending the startup ecosystem,"
said an LP who has backed many prominent VC funds in the Bay Area and New
York. "Other than that, they shouldn't be posturing for a political
candidate."

Publicly supporting candidates has no upside for LPs, especially
considering many LPs have their own agendas, added a VC.
Advertisement

"I know LPs are very irritated," said the VC. "If I hired you to be a
mechanic, I just wanted you to fix my car and not spend your time being a
political advocate."

He pointed out a pension fund for union workers cannot be thrilled with a
VC who endorses Trump, who has spoken out against unions.

"What most LPs worry about is the headline risk for you as a reporter to
write an article and mention one of their general partners, and then they
have to answer to their board," said the LP. "It stresses them out."

Still, according to another VC, for all their dismay, most LPs are
unlikely to do anything beyond voicing their displeasure in a phone call.

In article <vad3ps$1kv0d$3@solani.org>, webermark@polaris.net says...
>
> >'Why Silicon Valley Is Turning Red'
> >'The Surprising Shift as Tech Titans Bet Big on Trump'
> >
> ><https://tippinsights.com/why-silicon-valley-is-turning-red/>
>
> Horseshit. More speculation, lies and distortions from an emeny Russian
> propaganda outlet often cited by rightists, but only the America hating
> ones.
>
> Trump will lose and end up ending his days in a prison cell.
>
>
> A few weeks ago, multiple tech investors asked a partner at an early-
> stage venture capital firm if she would sign onto VCs for Kamala, an
> advocacy group to elect Kamala Harris as president. She didn't sign, not
> because she doesn't support Harris (she does) but because she sees no
> upside in broadcasting her political intentions.
>
> "We're here to manage your money and make you a lot more of it. We're not
> here to comment on anything else," said the partner, who asked to remain
> anonymous because she said it felt "off brand" to comment on politics.
>
> Political advocacy, especially for Republicans, used to be largely taboo
> in tech, which is centered in some of the bluest areas of the country;
> more than 85% of San Francisco voters went for President Joe Biden in the
> 2020 election.
>
> "The majority of Silicon Valley, whether entrepreneurs or investors, has
> always been and remains broadly liberal," said David Hornik, an investor
> at Lobby Capital and August Capital. "I have no reason to believe any of
> that has shifted."
> Advertisement
>
> What has changed is the minority of Republicans in tech ? whether
> motivated by concerns about regulating cryptocurrency or support for
> Israel ? have become more emboldened to share their views, which in turn
> has caused Democrats to amp up their support for Harris.
>
> "There's been an airing of grievances that we don't normally see out
> there," said Leslie Feinzaig, founder of VCs for Kamala.
>
> No one has been more emblematic of the shift than Elon Musk, who endorsed
> Trump last month and hosted a rambling interview with him last week on
> social media platform, X. The former president has also received
> endorsements from famous VCs Marc Andreessen, Ben Horowitz, Doug Leone,
> and David Sacks.
>
> After hand-wringing Silicon Valley had gone red, liberal voices like
> LinkedIn cofounder Reid Hoffman, Netflix cofounder Reed Hastings, and
> venture investor Ron Conway affirmed their support for Harris. More than
> 800 investors have signed onto VCs for Kamala.
> Advertisement
>
> But even Feinzaig, whose day job is managing the early-stage firm Graham
> & Walker, is not entirely comfortable being an advocate. She would much
> rather be spending her time making deals and helping founders.
>
> "I cannot believe that I, of all people, became a political
> spokesperson," said Feinzaig. "We had a no politics rule at Graham and
> Walker. We try to just respect all views."
>
> Related stories
>
> Sequoia's Michael Moritz says Trump's Silicon Valley supporters are
> making a 'big mistake'
>
> Google, Netflix, and OpenAI execs are hosting a fundraiser for Kamala
> Harris
> Choosing a VC because of politics
>
> Everyone BI spoke to for this article stressed business still comes
> first. However, many also acknowledge politics can't help enter into
> decisions about how founders choose to fund their company.
>
> "If their values are not aligned, or in this particular case, if they
> know a particular VC is MAGA, they're less inclined to have them on their
> cap table," said Divya Kakkad, a partner at Graham & Walker. (Another VC
> pointed out many liberal founders would love to get a term sheet from
> Sacks' Craft Ventures or Thiel's Founder's Fund.)
> Advertisement
>
> Some VCs also blamed the election for an unusually slow summer of
> dealmaking. The constant chatter has also dragged down the performance of
> some companies, according to Jesse Middleton, a general partner at
> Flybridge, an early-stage AI-focused firm.
>
> "The surrounding noise can be a major distraction for founders, affecting
> their morale and productivity," said Middleton. "This distraction extends
> to both fledgling and established startups, potentially destabilizing
> their growth trajectory."
>
> All the attention on the election has also been a factor in companies
> delaying their plans to go public until after November, according to
> Cameron Lester, global co-head of technology, media, and telecom
> investment banking at Jefferies.
>
> "This is a really noisy time with the election," said Lester.
> Advertisement
>
> ServiceTitan, a Los Angeles-based startup that makes software to help
> tradespeople manage their businesses, was originally targeting this fall
> to go public. Now, executives are waiting until after the election
> concludes to make any decision, according to a source familiar with the
> matter. (ServiceTitan did not respond to a request for comment.)
> Limited partners are 'irritated'
>
> The outspokenness of VCs is also causing consternation among the limited
> partners who fund venture firms, according to two sources.
>
> "I've always wanted our VCs to just shut their mouths and do their job
> and not be political unless they're defending the startup ecosystem,"
> said an LP who has backed many prominent VC funds in the Bay Area and New
> York. "Other than that, they shouldn't be posturing for a political
> candidate."
>
> Publicly supporting candidates has no upside for LPs, especially
> considering many LPs have their own agendas, added a VC.
> Advertisement
>
> "I know LPs are very irritated," said the VC. "If I hired you to be a
> mechanic, I just wanted you to fix my car and not spend your time being a
> political advocate."
>
> He pointed out a pension fund for union workers cannot be thrilled with a
> VC who endorses Trump, who has spoken out against unions.
>
> "What most LPs worry about is the headline risk for you as a reporter to
> write an article and mention one of their general partners, and then they
> have to answer to their board," said the LP. "It stresses them out."
>
> Still, according to another VC, for all their dismay, most LPs are
> unlikely to do anything beyond voicing their displeasure in a phone call.

What a load of horse shit.