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Marc Andreessen and Ben Horowitz, co-founders of the distinguished enterprise capital agency Andreessen Horowitz (a16z), have publicly endorsed former President Donald Trump because of his supportive insurance policies concerning 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 big departure for Andreessen, who has a historical past of endorsing Democratic candidates.
The endorsement is predicated on the assumption that Trump’s insurance policies are extra advantageous for the expertise sector and comes amid rising assist for the previous President in Silicon Valley.
Horowitz acknowledged the controversy their political stance would possibly generate, saying:
“I want we didn’t have to select a facet.”
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 take care of its financial and navy dominance.
Andreessen Horowitz, based 15 years in the past, manages over $42 billion in property, making it one of many largest enterprise traders in Silicon Valley.
Biden insurance policies below hearth
The a16z co-founders mentioned throughout the podcast that Trump’s stance towards expertise is mostly extra favorable than the Biden administration, particularly concerning synthetic intelligence (AI) and crypto regulation.
Additionally they criticized the present regime for extreme regulation and pointless taxation that stifles startup development. Andreessen expressed explicit concern concerning the Biden administration’s method to AI regulation, fearing it might drawback the US in comparison with world rivals.
Horowitz recounted a latest dinner with Trump, throughout which the previous president emphasised the significance of successful the AI race in opposition to China. He mentioned:
“What he mentioned to us is, ‘[AI] may 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 below Biden.
They added that they particularly oppose the proposal to tax unrealized capital good points, arguing that it might 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 development and innovation.
Andreessen and Horowitz highlighted that technological prowess, together with financial energy and navy 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 throughout the Chilly Battle, highlighting the strategic significance of tech in nationwide safety.