Business

Andreessen Horowitz co-founder switches support from Trump to Harris after Biden's withdrawal

The shift of Andreessen Horowitz co-founder Ben Horowitz from supporting Trump to making a significant donation to Kamala Harris marks an important turning point in the political alignment of the renowned venture capital firm.

Eulerpool News Oct 6, 2024, 3:33 PM

The co-founder of the renowned US venture capital firm Andreessen Horowitz, Ben Horowitz, has announced that he will personally make a significant donation to Democrat Kamala Harris's presidential campaign. This decision follows immediately after President Joe Biden's withdrawal from the race, bringing Harris into play as the new Democratic candidate.

In an internal memo on Friday, Horowitz informed his team that he and his wife Felicia will be making a substantial donation to organizations supporting the campaign of Harris and her running mate Tim Walz. This turn marks a significant shift in direction, as Horowitz and his longtime partner Marc Andreessen had only in July unexpectedly supported Donald Trump's Republican candidacy. At the time, Horowitz justified the decision with the view that the Biden administration is "destroying" the tech industry and increasingly complicating the environment for startups and investors.

Horowitz's renewed support for Kamala Harris could lead to internal tensions at Andreessen Horowitz, as the company continues to support Trump in certain areas such as cryptocurrencies and artificial intelligence regulation.

This decision comes just one week after the company's revelation of support for Trump, highlighting the dynamic and often contradictory nature of political alliances in the tech industry. As Andreessen Horowitz tries to navigate its position in a divided political landscape, support for Trump remains in specific technology sectors. This reflects the complex interests and strategic considerations of large investment firms that must take into account both traditional political alliances and forward-looking technological developments.

Horowitz's shift to support Harris underscores the flexibility and adaptability required in today's fast-paced political landscape. At the same time, it raises questions about the coherence and long-term strategy of Andreessen Horowitz, especially when personal political preferences collide with the company's business interests.

Own the gold standard ✨ in financial data & analytics
fair value · 20 million securities worldwide · 50 year history · 10 year estimates · leading business news

Subscribe for $2

News