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Billionaire investors Marc Andreessen and Ben Horowitz are reportedly set to announce their plans to make donations in support of former President Trump’s presidential campaign.
Axios reported on Tuesday that the two founders of VC firm Andreessen Horowitz is expected to outline the reasoning behind their plan to financially support Trump’s bid for the White House in a podcast later Tuesday afternoon. The Information previously reported on the duo’s donation plans.
The two investors are not believed to have made prior donations to political campaigns, though Axios noted that Andreessen publicly supported Republican nominee Mitt Romney in 2012 and said he had trouble choosing in 2016 between Trump and Hillary Clinton — saying the former “you don’t believe in science” while the latter “doesn’t believe in economics”.
The donations in support of the Trump campaign are believed to be linked to a previously announced plan to support political candidates who favor regulatory policies that enable the growth of emerging technologies such as artificial intelligence (AI) and cryptocurrencies, Axios reported, citing a source. .
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Former President Trump and Senator JD Vance are determined to see the investors behind Andreessen Horowitz back their campaign. (Eva Marie Uzcategui/via Bloomberg/Getty Images)
Last year, Andreessen Horowitz announced his intention to make political donations to candidates who support “an optimistic the future enabled by technology” while opposing candidates who “want to stifle important technologies.”
In a blog post authored by Horowitz in December, he explained that the firm believes “America’s best days are ahead if we maintain our global technology leadership,” but that could be undermined by “the wrong regulatory policies.”
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Marc Andreessen is one of the founding partners of the VC firm Andreessen Horowitz. (Paul Chinn/The San Francisco Chronicle via / Getty Images)
“Artificial intelligence it has the potential to lift all humanity to an unprecedented quality of life and should not be drowned in its infancy,” he wrote.
“Decentralized technologies from blockchain/crypto/web ecosystem3 will create a fairer, more inclusive economy than the centralized technologies that enable the web 2 monopoly and industrial-age financial system,” Horowitz wrote, adding that clear regulation is needed to eliminate bad actors exploiting that space. technological.
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Ben Horowitz, left, is one of the co-founders of Andreessen Horowitz. (Phillip Faraone/for Wired/Getty Images)
He also said the US is “entering a golden age of biological research” with AI “maturing at a time when the life sciences and health care are also transforming into data-driven disciplines, with both industries increasingly driven by AI and engineering, with its power and opportunity to fundamentally change the way we diagnose, treat and manage disease and deliver health. “
“Every penny we donate will go to support like-minded candidates and oppose candidates who aim to kill America’s advanced technological future,” he concluded.
Former President Trump selected Senator JD Vance as his running mate on Monday. (Rebecca Droke/AFP via / Getty Images)
Tuesday’s announcement from the VC investors comes a day after former President Trump was elected Sen. JD Vance, R-Ohioas his running mate and running mate.
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Andreessen provided funding for Vance’s venture capital firm Narya Capital, which Vance founded in 2019. Other investors included PayPal co-founder Peter Thiel and former Google CEO Eric Schmidt.