Trump’s tech supporters are wrong | Wilnesh News

As leading tech investors continue to take public stances ahead of the 2024 presidential election, legendary venture capitalist Michael Moritz has made his preference clear.

in a Financial Times opinion piece In an article published on Monday, Moritz wrote that those in the industry who support Donald Trump “are making a big mistake.”

Moritz — Joined Sequoia Capital in 1986 and went on to make huge bets on companies including: GooglePayPal and LinkedIn — Criticizing Trump’s Silicon Valley supporters as selfish and questioning why so many smart and successful people are “ready to Turn a blind eye to Trump”.

“I doubt any of them would want him to be part of their organization’s investment group,” Moritz wrote. . “So why are they dismissing his recent criminal conviction as nothing more than a politically motivated witch hunt based on a simple bookkeeping error?”

Moritz was referring to the 34 felonies Trump was convicted of in New York state court earlier this year. Trump said he would appeal and many of his allies dismissed his trial as a “sham.”

Andreessen Horowitz co-founders Marc Andreessen and Ben Horowitz recently expressed support for Trump. Tesla Chief Executive Elon Musk publicly backed him shortly after the assassination in July. Other Trump supporters include venture capitalists David Sachs and Joe Lonsdale; Doug LeoneMoritz’s long-time partner at Sequoia Capital.

Moritz, now a senior adviser at Sequoia Wealth Management, said he doesn’t think Trump will win in Silicon Valley in November, noting that Trump’s performance there has been historically weak. He’s not the only one to object.

LinkedIn founder Reid Hoffman has been a major supporter of the Democratic Party, having previously endorsed Vice President Kamala Harris and President Joe Biden. Last week, more than 100 venture capitalists pledged their support to Harris, the de facto Democratic nominee, as she steps up her campaign against Trump. As of Monday, more than 700 people had signed up for Kamala Ventures ensure.

Moritz has a multi-billion dollar fortune that allows him to donate generously to charity. In 2013, he was knighted, in part for his charity work. Moritz has made major donations to Democratic causes, including $4.8 million earlier this year to American Bridge 21st Century, which is planning A $140M anti-Trump ad blitz. He also donated to the anti-Trump Lincoln Project.

His donations to the Republican Party include earlier support for Arnold Schwarzenegger when he was governor of California, Mitt Romney in 2007 and Ohio governor John Kasich in 2010 and 2014, OpenSecrets reported.

Moritz wrote in his column that Trump’s tech financiers and supporters “make the same mistake as all powerful people who support dictators.”

Wealthy financiers, he wrote, believe “they will be able to control Trump” or would be making “another big mistake: deluding themselves into thinking he won’t do what he says or promises.”

“This has not been the modus operandi of dictators for centuries,” he wrote.

watch: Trump’s technology