(TheConservativeTimes.org) – In Silicon Valley, venture capitalists hold high power as they are the ones who choose what startups to fund, and they see themselves fostering the next big wave of technology.
Many people took notice when Donald Trump announced who his running mate would be: a venture capitalist, JD Vance from Ohio. Hundreds of other VCs then put out their support for Kamala Harris. This has caused controversy over what president might be best for their technology innovation and the conditions that startups need in order to thrive.
Stephen DeBerry, a Venture capitalist and a Harris supporter, said that many of his best friends are supporting Donald Trump. Said DeBerry, “We ski together. Our families are together. We’re super tight.”
He continued, “This is not about not being able to talk to each other. I love these guys — they’re almost all guys. They’re dear friends. We just have a difference of perspective on policy issues,” DeBerry continued.
As of now, more than seven hundred venture capitalists have joined in support for a movement called “VCs for Kamala.”
One advocate for Harris, David Cowan, an investor at Bessemer Venture Partners, said that there are many reasons why VCs should support Donald Trump. However, as a VC, he said that he’s supporting Harris with a “long-term investment horizon.”
Many prominent VCs have voiced their support for Trump and many have donated to his PAC. These donors are high-profile in the technology industry and have ties with SpaceX and PayPal.
“We buy risk, right? And we’re trying to buy the right type of risk. It’s really hard for these companies that are trying to build products and scale to do so in an unpredictable institutional environment,” said The founder of “VCs for Kamala” Leslie Feinzaig.
Many firms have found themselves split in the support for either Donald Trump or Kamala Harris and many have expressed concern about the opposing nominee. Many have spoken up about who they are supporting, because they feel others who are at the top of the industry were speaking for it.
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