Marc Andreessen and Ben Horowitz, co-founders of the outstanding enterprise capital agency Andreessen Horowitz (a16z), have publicly endorsed former President Donald Trump on account of his supportive insurance policies relating to expertise, together with crypto and AI.
The 2 founders introduced their assist on July 17 throughout an look on “The Ben & Marc Present” podcast. The choice marks a major departure for Andreessen, who has a historical past of endorsing Democratic candidates.
The endorsement relies on the assumption that Trump’s insurance policies are extra advantageous for the expertise sector and comes amid growing assist for the previous President in Silicon Valley.
Horowitz acknowledged the controversy their political stance may generate, saying:
“I want we didn’t have to choose a aspect.”
Nevertheless, he additionally emphasised that the way forward for their enterprise and American expertise is at stake. The co-founders additional argued that technological innovation is essential for the US to keep up its financial and army dominance.
Andreessen Horowitz, based 15 years in the past, manages over $42 billion in property, making it one of many largest enterprise buyers in Silicon Valley.
Biden insurance policies underneath hearth
The a16z co-founders stated through the podcast that Trump’s stance towards expertise is mostly extra favorable than the Biden administration, particularly relating to synthetic intelligence (AI) and crypto regulation.
Additionally they criticized the present regime for extreme regulation and pointless taxation that stifles startup progress. Andreessen expressed specific concern in regards to the Biden administration’s strategy to AI regulation, fearing it might drawback the US in comparison with world rivals.
Horowitz recounted a current dinner with Trump, throughout which the previous president emphasised the significance of successful the AI race in opposition to China. He stated:
“What he stated to us is, ‘[AI] could be very scary, however we completely must win as a result of if we don’t win, China wins.’”
The co-founders additionally praised Trump’s assist for the crypto sector, contrasting it with what they described as punitive tax insurance policies underneath Biden.
They added that they particularly oppose the proposal to tax unrealized capital good points, arguing that it will hurt startups by taxing them on valuation will increase that aren’t liquid.
Shift from Democratic roots
Marc Andreessen’s assist for Trump indicators a serious shift from his longstanding Democratic affiliations. Traditionally, he has backed a collection of Democratic candidates, together with Invoice Clinton, Al Gore, John Kerry, Barack Obama, and Hillary Clinton — reflecting his alignment with their insurance policies previously.
Nevertheless, his present assist for Trump is pushed by a perception that the previous president’s insurance policies higher assist the tech business’s progress and innovation.
Andreessen and Horowitz highlighted that technological prowess, together with financial power and army functionality, has been important for US supremacy over the previous century.
They credited America’s technological edge for its peaceable victory over the Soviet Union through the Chilly Struggle, highlighting the strategic significance of tech in nationwide safety.
