Silicon Valley backs JD Vance, more tech billionaires back Trump

President Donald Trump's selection of Sen. J.D. Vance as his 2024 running mate is seen as a windfall for Silicon Valley, with major tech venture capital firms voicing their support.

The Ohio Republican is best known as the author of the hit memoir “Hillbilly Elegy,” which detailed the plight and concerns of Rust Belt voters, but he also has close ties to the tech industry.

Before entering politics, he worked as a venture capitalist alongside billionaire Peter Thiel, co-founder of PayPal, Palantir Technologies and Founders Fund.

JD Vance is a former tech venture capitalist. Reuters

The vice presidential nomination was a bullish sign for Silicon Valley donors who hope that a reelection of Trump would lead to tech-friendly policies, such as loosening regulations on artificial intelligence and cryptocurrencies.

Vance also supports antitrust crackdowns on dominant big tech companies like Google that are accused of stifling smaller rivals — a position popular with so-called “little tech” startups backed by technology venture capital firms.

He also criticized Section 230, a law that gives tech platforms immunity from liability for third-party content posted on their sites.

[Vance] A technology policy source, speaking on condition of anonymity, told The Washington Post that Trump may embody the defense of small tech: He's a champion of AI and innovation, and has been tough on China.

The conservative lawmaker has publicly called for breaking up Google and is one of dozens of lawmakers supporting the Child Online Safety Act, which would establish a legal duty of care for platforms like Meta and TikTok to protect children online.

He is one of the so-called “Khanservatives,” or Republican lawmakers, who have voiced support for Federal Trade Commission Chair Lina Khan, a Democrat who has infuriated mainstream Republicans with a series of aggressive antitrust actions.

“I view Lina Khan as one of the few people in the Biden administration who is doing a pretty good job,” Vance said at an antitrust conference hosted by Y Combinator in February.

Silicon Valley investors cheered Trump's choice of J.D. Vance as his running mate. Ron Sachs – CNP for the NY Post

Vance's positions are consistent with those of President Trump, whose FTC and Justice Department launched antitrust investigations into Google, Meta, Amazon and Apple during his first term in office.

President Trump and Vice President Vance will be the first crypto administration and will bring together the best and brightest minds in technology, AI, quantum computing, cryptocurrency, defense, transportation and biotechnology to create a renaissance of American dynamism and innovation, tech investor and EdisonAlpha Fund managing director Shervin Pishevar told the Post.

One prominent supporter was Elon Musk, who praised Vance as an excellent choice and said the nomination had the ring of victory.

Musk formally endorsed Trump after the Republican candidate narrowly escaped an assassination attempt at a campaign rally in Pennsylvania over the weekend.

According to The Wall Street Journal, the billionaire Tesla CEO also said he will donate about $45 million to Trump's new political action committee, called America PAC, which also has the backing of the Winklevoss twins and Palantir co-founder Joe Lonsdale.

Elon Musk said the Trump-Vance pairing “sounds like a win.” AP

Meanwhile, Marc Andreessen and Ben Horowitz, who co-founded a technology-focused venture capital fund, told employees they planned to make a large donation to an unspecified political action committee to support Trump's candidacy, The Information reported.

Founders Fund partner Delian Asparoukhov also praised the choice, writing emphatically to X: “Ex-tech VC in the White House. Greatest country on earth, baby.”

Added Omeed Malik, president of 1789 Capital: “He has credibility in the MAGA ecosystem based on his experience and can be a bridge builder for the demographic our country needs.”

Other prominent tech venture capitalists backing the Trump campaign include All In podcast host David Sachs and Chamath Palihapitiya, who recently hosted a $12 million fundraiser backed by Vance.

Sachs described Vance as an American patriot.

Vance, a U.S. Marine Corps veteran, graduated from Yale Law School in 2013 and worked as a principal at Thiels' investment firm, Mithril Capital, from 2016 to 2017.

Vance has close ties to billionaire PayPal co-founder Peter Thiel. Getty Images

By 2020, Mr. Vance had launched his own fund, Ohio-based Naria Capital, and had received significant backing from Silicon Valley luminaries including Mr. Thiel, Mr. Andreessen and former Google CEO Eric Schmidt.

“He's a Thiels guy, one venture capital source said. They gave him the business, the job, the money. It's an advantage that Trump picked smart people. I think it's hard to be in tech and in the Rust Belt. I don't know if there's a way to do both… We'll have to wait and see.”

A spokesman for Thiel did not immediately respond to a request for comment.

In 2021, Vance's Nalia reportedly invested heavily in Rumble, an online video platform popular with conservatives and a YouTube competitor.

Thiel also invested as a personal investor.

Marc Andreessen reportedly told employees he supports Trump Vance. Anadolu via Getty Images

Narya's portfolio also includes shares in Strive Asset Management, a fund founded by Vivek Ramaswamy, a former Republican presidential candidate and Trump supporter, which pressures large companies like Apple and Disney to keep politics out of their business.

In 2022, Vance revealed he owns between $100,000 and $250,000 in Bitcoin.

Meanwhile, President Biden is receiving a new cash infusion from George Soros, who has donated $5 million to the pro-Biden Future Forward PAC, and Schmidt, who recently made a six-figure donation to the Biden campaign and the Democratic Party, Bloomberg reported.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos