Major Silicon Valley investors are backing former President Donald Trump after expressing disgust for President Joe Biden’s anti-growth policy proposals.
“It’s impossible to support Biden,” Keith Rabois, an early leader at PayPal, who also played key roles at LinkedIn, Square, and Slide, said. Rabois did clarify that while he is not a fan of Trump, he would be working to elect a Republican House and Senate.
Other prominent big tech moguls including David Sacks, Chamath Palihapitiya, Marc Andreessen, and Shaun Maguire have tired of Biden’s proposals, including a 25 percent “billionaire tax” and antitrust crackdowns enacted by the Democrat majority at the Federal Trade Commission (FTC).
Other tech executives also opposed oppressive regulations imposed by Securities and Exchange Commission (SEC) Chairman Gary Gensler.
Andreessen, the founder of large venture capitalist firm Andreessen Horowitz, said that there are “real issues” with the Biden administration. He said that a second Trump administration would be staffed by “very different kinds of people” at the SEC and FTC.
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Ben Horowitz, the other founder of Andreessen Horowitz, said that his company would back any lawmaker who believed in an “optimistic technology-enabled future.”
Sacks, the former chief operating officer of PayPal, plans to host a fundraiser for Trump and will interview the 45th president on his podcast.
“I have bigger disagreements with Biden than with Trump,” Sacks said last week at a tech conference.
“It’s a good reason for Silicon Valley to think really hard about who it wants to vote for,” Sacks said, citing Biden’s onerous tax proposal, which would attack startup founders who want to offer stock options to employees.
Sacks attended a recent “ant-Biden” dinner with X, formerly Twitter, owner Elon Musk and Peter Thiel.
Palihapitiya, the founder of venture capital firm Social Capital, plans to cohost a fundraiser alongside Sacks.
“Four years ago you had to issue an apology if you voted for him,”Delian Asparouhov, an investor at Thiel’s Founders Fund, wrote.
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter @SeanMoran3