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More than 100 venture capitalists pledged to support Vice President Kamala Harris — the Democrats’ answer to the steady stream of Silicon Valley bigwigs who have vowed to back Donald Trump.
“VCs for Kamala” includes LinkedIn co-founder Reid Hoffman, minority owner of the Dallas Mavericks Mark Cuban and billionaire Chris Sacca.
“We the undersigned are Venture Capital investors, founders and tech leaders who pledge to vote for Kamala Harris in the 2024 election,” a statement on the website says.
“We spend our days looking for, investing in and supporting entrepreneurs who are building the future. We are pro-business, pro-American dream, pro-entrepreneurship, and pro-technological progress,” the group wrote. “We also believe in democracy as the backbone of our nation. We believe that strong, trustworthy institutions are a feature, not a bug, and that our industry — and every other industry — would collapse without them. That is what’s at stake in this election.”
Another powerful group, Tech for Kamala, has pledged support for the vice president. In a July 28 letter, the group noted the Biden-Harris administration “has laid the foundation for a great new American chapter — growing the economy and expanding opportunity for people of all backgrounds” and “as a California native Vice President Harris has shown her leadership in the tech industry over decades.”
So far, 550 people have signed the letter, the New York Times reported.
In the letter, Tech for Kamala also noted the host of entrepreneurs who have been backing Trump: “We acknowledge there are a few people in tech with very loud microphones who support a very different vision of the future. But as the names on this letter show, they do not at all represent the entire tech community.”
Elon Musk is one of the people in the pro-Trump camp. The SpaceX founder endorsed Trump after the assassination attempt against the former president earlier this month. The Wall Street Journal reported earlier this month that Musk planned on donating a staggering $45 million to a pro-Trump super PAC every month — a claim that the Tesla CEO has since denied.
Earlier this year, Musk had co-hosted a so-called “anti-Biden” fundraiser with a guest list that reportedly boasted Peter Thiel, Rupert Murdoch, Michael Milken and Travis Kalanick.
Thiel has longstanding ties to Trump’s running mate JD Vance, who first met the PayPal co-founder at Yale Law School and later went on to work for him.
Musk’s event was also co-hosted by entrepreneur and investor David Sacks, who has also publicly endorsed the former president.
Months later, the billionaire reportedly co-hosted another high-profile fundraiser with former Facebook senior executive Chamath Palihapitiya. The entry fee ranged from $50,000 for individuals to $500,000 for couples, according to reports at the time.
“It’s safe to say that there’s a wellspring of support in Silicon Valley,” Sacks told the Times weeks after Trump was convicted in New York, “especially given the backlash to the political prosecution of Trump.”
“They don’t speak for me,” Leslie Feinzaig, founder of Graham & Walker and an organizer of VCsForKamala, told the Times. “They don’t speak for most of us. And they don’t speak for the founders.”
To recruit people to join the group’s efforts, Feinzaig told the outlet that she sent around a sign-up form in an email that read: “Let’s show founders that not all VCs have turned MAGA.”
Harris support from finance magnates comes after the vice president garnered support from another vocal group: white dudes.
The group “White Dudes for Harris” reportedly raised $4 million on Monday evening alone following a Zoom call that saw nearly 200,000 participants, including celebrities and potential running mates.
