Why Silicon Valley Is Turning Red

Tipp Insights ^ | 8/24/24 | Ed Board

[CFW]

The 2024 presidential election is throwing up many firsts. While some, like the bait-and-switch candidacy, are blatantly oblivious, others are a little less pronounced.

One such shift is happening in Silicon Valley. Known as a Democrat bastion over the years, there is a notable shift in the tide. Billionaire entrepreneurs, venture capitalists, and others with huge clout in the tech domain are throwing their weight behind Donald Trump. Elon Musk and David Sacks are just two prominent names on a list that is growing daily.

While the turn of events does not suggest that Silicon Valley is turning all red, the sector's disenchantment with Democrats is apparent. Being an incumbent in any election has its share of advantages but is also a time of reckoning. Harris's tenure as California's attorney general was largely favorable toward the tech industry, but her years as VP have taken away some of that sheen. The Biden-Harris administration, over its tenure, has lost powerful friends and created discontent among the tech giants.

Deeply unhappy with the current administration's backing of antitrust enforcement and hostile policies toward cryptocurrency, the most influential voices are moving away from Harris. Many in the tech world believe that the Democrats proposed tax on unrealized capital gains will sound the death knell for many startups and the venture capital industry.

[DIRTYSECRET]

Maybe they’re scared-going with the flow.

[CFW]

I’m surprised anyone is even bothering to vote for Trump this fall. No one else is and he has absolutely no support from anyone.

[The Duke]

"Wouldn’t it be something if Trump could somehow flip CA?"

Impossible ... the only ones left in CA are the ones who actually ENJOY having sh&t on their sidewalks.

[RoseofTexas]

Yep! Only a small handful will support trump.

[j.havenfarm]

I lived there, in Santa Clara County, for 20 years. In the 80s it was still centrist and regularly elected Republicans. In 1984 Reagan had two official campaign kickoff events the same day, the first in S. CA, the second at De Anza College in Cupertino. I was there with the massive crowd. It took us decades to lose CA, and it will take decades to get it back. Here’s hoping. Trump must win or I think we’re doomed

[DownInFlames]

Move SV to Texas. They will love the low taxes and hate the weather.

[pierrem15]

It may be true that business interests are driving them to Trump and they still support socially liberal policies, but there is nothing more important right now than blocking the Deep State oligarchy from installing another sock puppet in the White House and finishing the establishment of a Dem one-party state.

If Harris wins, this country is finished.

[GOPJ]

Many in the tech world believe that the Democrats proposed tax on unrealized capital gains will sound the death knell for many startups and the venture capital industry.

People in the tech community can do math - and they understand toxic incentives. Paying on gains before they're realized is nuts.