Mike Moritz from Sequoia has stated that supporters of Trump within the tech industry are committing a significant error.
Editor Thenews24.net
2 min read
Michael Moritz, a prominent venture capitalist from Sequoia Capital, has openly criticized tech industry supporters of Donald Trump in a recent Financial Times opinion piece. Moritz, who has been with Sequoia since 1986 and has invested in major companies like Google, PayPal, and LinkedIn, believes that backing Trump is a significant error. He questions why intelligent and successful individuals in Silicon Valley are willing to overlook Trump’s actions, including his recent criminal conviction on 34 felony counts in New York State court, which Trump plans to appeal.
Moritz argues that these tech investors would likely not want Trump involved in their investment syndicates, so he finds it puzzling that they dismiss his legal issues as mere political attacks. Notable Trump supporters in the tech world include Marc Andreessen and Ben Horowitz of Andreessen Horowitz, Tesla CEO Elon Musk, and venture capitalists David Sacks, Joe Lonsdale, and Doug Leone, Moritz’s former partner at Sequoia.
Despite this support, Moritz doubts Trump will gain significant traction in Silicon Valley, given his past performance there. He is not alone in his opposition; LinkedIn founder Reid Hoffman and over 100 venture capitalists have pledged their support to Vice President Kamala Harris, the leading Democratic candidate, as she prepares to challenge Trump.
Moritz, who has a substantial fortune and was knighted in 2013 for his philanthropic efforts, has donated generously to Democratic causes, including a $4.8 million contribution to American Bridge 21st Century for an anti-Trump campaign. He has also supported the Lincoln Project, an anti-Trump Republican group. His past Republican donations include support for Arnold Schwarzenegger, Mitt Romney, and John Kasich.
In his op-ed, Moritz warns that Trump’s tech backers are making the same mistake as those who support authoritarians, believing they can control him or underestimating his intentions. He emphasizes that history shows authoritarians do not operate in such a manner.