Investor Critiques Tech Backers of Trump
- Venture investor Mike Moritz expressed strong criticism towards tech investors supporting Trump.
- The critique was delivered in an op-ed published in the Financial Times on Monday.
- Moritz suggested that backing Trump is a significant mistake for tech backers.
In a recent op-ed, Sequoia Capital veteran Michael Moritz expressed his disapproval of Silicon Valley figures who continue to support former President Donald Trump, despite his recent conviction on 34 felony counts in New York. Moritz, who has a history of successful investments in companies like Google and PayPal, questioned the motivations of those in the tech industry who overlook Trump's legal issues, labeling them as self-interested. He highlighted the contrast between his stance and that of prominent Trump supporters, including Andreessen Horowitz co-founders Marc Andreessen and Ben Horowitz, as well as Tesla CEO Elon Musk. Moritz's criticism comes at a time when the political landscape in Silicon Valley is sharply divided. While some venture capitalists rally behind Trump, others, like LinkedIn founder Reid Hoffman, have aligned themselves with the Democratic Party, actively supporting candidates such as Vice President Kamala Harris. Recently, over 100 venture capitalists pledged their support for Harris as she prepares to challenge Trump in the upcoming election, with more than 700 individuals signing the "VCs for Kamala" pledge. With a multibillion-dollar fortune, Moritz has been a significant donor to Democratic causes, including a notable $4.8 million contribution to American Bridge 21st Century, which is orchestrating a substantial anti-Trump advertising campaign. He cautioned that the backing of authoritarian figures by powerful individuals is a historical mistake, urging his peers to reconsider their support for Trump and his agenda.