Marc Andreessen, co-founder of prominent venture capital firm Andreessen Horowitz (a16z), has announced his support for former President Donald Trump in the 2024 presidential race, marking a significant departure from his long-standing allegiance to the Democrat party.
TechCrunch reports that Marc Andreessen, a stalwart of Silicon Valley’s venture capital ecosystem, has declared his intention to vote for Donald Trump in the upcoming 2024 presidential election. This decision, revealed in the latest episode of The Ben & Marc Show podcast, represents a stark shift for Andreessen, who has historically supported Democratic candidates, including Bill Clinton, Al Gore, John Kerry, Barack Obama, and Hillary Clinton.
Andreessen’s rationale for this political pivot centers primarily on what he perceives as Trump’s more favorable policies for the technology sector, particularly for the startup ecosystem. The venture capitalist, along with his a16z co-founder Ben Horowitz, expressed deep concerns about the future of American technology under the current administration.
The podcast discussion framed technology as one of three critical pillars supporting American global dominance, alongside economic and military might. Andreessen and Horowitz argued that this technological prowess played a crucial role in the United States’ peaceful victory over the Soviet Union during the Cold War. They emphasized that maintaining technological superiority is essential for preserving America’s economic and military advantages.
Andreessen and Horowitz outlined several points of contention with the Biden administration’s approach to technology regulation. They expressed disagreement with what they characterized as the White House’s plan to “overregulate” artificial intelligence. Andreessen warned that any self-imposed limitations on AI development could disadvantage the United States in the global technological race.
The venture capitalists also shared insights from a recent dinner with former President Trump, where they discussed his stance on AI. According to Horowitz, Trump acknowledged the technology’s potential risks but emphasized the importance of American leadership in the field, stating, “AI is very scary, but we absolutely have to win because if we don’t win, China wins.”
Another area of divergence highlighted by Andreessen was cryptocurrency regulation. He praised Trump’s approach as “a flat-out blanket endorsement of the entire space,” contrasting it with the Biden administration’s policies.
However, the most significant factor in Andreessen’s decision to support Trump appears to be the Biden administration’s proposal to tax unrealized capital gains. Andreessen referred to this as “the final straw,” arguing that such a policy could have devastating effects on the startup ecosystem. He explained that if startups were required to pay taxes on valuation increases before realizing actual profits, it would make the venture capital model untenable.
“If you’re a venture firm, you’re getting strips of your portfolio pulled away from you every year. You’re out of business,” Andreessen stated, emphasizing the potential impact on the viability of startups under such a tax regime.
This political stance aligns with Andreessen’s broader vision for technology’s role in society. In October of the previous year, he published a “Techno-Optimist Manifesto,” advocating for technologists to embrace innovation as “the only perpetual source of growth” and to disregard critics and pessimists.
Andreessen Horowitz, founded 15 years ago, has established itself as one of Silicon Valley’s largest venture investors. According to PitchBook, the firm manages over $42 billion in assets, underscoring its significant influence in the tech investment landscape.
Read more at TechCrunch here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
