If California is the center of political fundraising in the United States, Silicon Valley has grown into one of the increasingly dominant forces in campaign finance. While Northern California’s tech entrepreneurs overwhelmingly support Democratic candidates, a small group of powerful defectors have moved to the right in recent years.
Conservatives in the tech community gathered to enjoy a visit from former President Trump at a Tony fundraiser Thursday night at the San Francisco home of venture capitalist David Sacks. The manor is located on Billionaire’s Row in Pacific Heights and welcomed about 80 elites to attend this sold-out event. Admission will cost up to $300,000 per person and $500,000 per couple, according to an invitation obtained by The Times.
“This was several hours of high-quality online communication in a very beautiful private residence,” said Hammett Dillon, California Republican National Committeewoman, San Francisco attorney and official legal attorney for the Trump campaign. Harmeet Dhillon said. “The seats are full. Totally packed.
The gathering raised $12 million, Dhillon added.
Across the country, tech leaders and employees have invested millions of people in politics. According to campaign finance data released by the U.S. State Department on May 21, workers in the communications and electronics industry, including technology companies, have donated $18.1 million this year to Biden and groups supporting his campaign, and to Trump and groups supporting his campaign. organizations donated $1.4 million.
The analysis of donations was conducted by Open Secrets, a nonpartisan group that tracks election finances. Contributions to candidate committees and outside groups supporting campaigns totaled $25.8 million, with 71.7% going to Democrats and 22.1% to Republicans.
In Silicon Valley itself – a geographical area considered the center of the technology industry Includes San Jose, Menlo Park, Palo Alto, Mountain View, Cupertino, Santa Clara, Redwood City and Sunnyvale — either in 2016 or 2020, according to the Times analysis About 3% of donors who gave to Democratic candidates donated to Trump in the next cycle. While many tech leaders and workers live in these cities, many other residents of the area do not work in the industry.
Demonstrators called for a ceasefire in Gaza as Vice President Kamala Harris arrived in San Francisco for a fundraiser on Wednesday.
(Annabel Sosa/Los Angeles Times)
“Silicon Valley and the Bay Area are the heart of the global innovation ecosystem. Considering the region’s economic vitality and cultural, technological and social impact, it’s no surprise that more candidates are engaging with our business leaders,” said a statement “This is part of the reason our region will continue to be a political powerhouse, helping to shape the national agenda that supports innovation, entrepreneurship and growth. “
While a small minority is increasingly attracted to Trump’s friendliness toward emerging technologies like cryptocurrencies, Silicon Valley remains reliably Democratic. The region’s tech community is known for its love of disruption and its historically liberal leanings.
“Obviously there are some defections, but the reality is that the vast majority of people still support the president,” said Rep. Ro Khanna (D-Fremont), who represents Silicon Valley in Congress.
Vice President Kamala Harris attended a fundraiser in the Oakland Hills on Wednesday before appearing before about 100 people in San Francisco. In a 13-minute speech, she called for a ceasefire in the war between Israel and Hamas and asked Hamas to return the remaining hostages to Israel.
Her remarks did not satisfy the crowd of protesters outside the venue, who chanted “Shame on you!” as Harris arrived.
Khanna recently convened 100 tech leaders in Napa to inspire them to stick with the Biden administration.
“Democrats need to have a clear vision for celebrating entrepreneurship,” Khanna said. “Yes, there need to be guardrails and smart regulation, but we need innovation. We need entrepreneurship. We need wealth creation. We need to be future-focused.
But for some Silicon Valley tech executives, future-proofing means campaigning for Trump.
inside latest episode On their podcast “All-In,” Sacks and fundraiser co-host Chamath Palihapitiya emphasized that they had previously campaigned for independent presidential candidate Robert F. Kennedy Jr. and held fundraisers for Trump’s former Republican opponent Vivek Ramaswamy.
Palihapitiya, who describes himself as “apolitical,” said he has donated to Democrats in the past, although he attended a Trump fundraiser with Sacks on Thursday. The two podcasters joked that their other two co-hosts, Jason Calacanis and David Friedberg, have been criticized for associating with Trump supporters.
“I think you’re getting more pushback, which shows a cowardly response to this. It’s like a cancellation tactic,” Sacks said. “I think the reason they do that is because, frankly, there’s a lot of preference forgery in Silicon Valley.”
Cian O’Brien, an entrepreneur and former vice president of a Sunnyvale technology company, said he has become a pariah in Silicon Valley since pledging allegiance to Trump. He said he has supported Democrats his entire life, although he did not vote for President Obama. O’Brien, 56, who donated to former Secretary of State Hillary Clinton’s campaign in 2016, said he switched his support to Trump after seeing how “the establishment” – the media and other government agencies – turned against him. general.
“They see him as a threat because he’s going to be there to expose or suppress … whatever their specific actions are,” O’Brien said. “Most of the action revolves around people enriching themselves through power and money.”
Attendees at the Saks fundraiser included the Winklevoss twins, best known for their feud with Mark Zuckerberg over the creation of Facebook; they dined on American flag toothpicks, mini lobster rolls and a dessert buffet. Senior executives at Coinbase; and several AI leaders. Ohio Senator Vance and North Dakota Governor Doug Burgum, who are being vetted as Trump’s potential running mates, also reportedly attended.
Trump spoke for about an hour on a wide range of topics including artificial intelligence, cryptocurrency and victims of deepfakes, prompting a young AI executive to explain in detail how encryption keys are used. He also believes the world is a safer place and borders more secure under his administration, and he opposes allowing trans women to participate in women’s sports.
Dillon said the former president did not directly mention the 34 felonies he was convicted of last week, but he spoke broadly about the justice system.
“He was in good spirits. He said there were some bad judges out there. He didn’t specify; he knew he had a gag order,” she said. “He said Republican judges went to great lengths to make themselves look fair and fair to the other side. Democrats are salivating and can’t wait to get their gavel and do what they want politically.”
Police cordoned off six blocks around the Pacific Heights neighborhood outside Sacks’ multimillion-dollar home. Some attendees arrived in black Escalades, while others arrived on foot or on motorcycles. Many arrived in pickup trucks waving large flags that read “Trump 2024.” A driver fist bumps with a bystander at a stop sign. A group of middle school students wearing Trump baseball caps stood nearby.
“This is a historic event,” said Jen Kelly, 60, of Sacramento, a self-described lifelong Republican. “I understand this is a private fundraiser, but it’s very rare for Trump to show up in California.”
After finishing in Silicon Valley, Trump headed south, planning weekend fundraisers in Beverly Hills and Newport Beach.
Sosa reported from San Francisco. Ann, Mehta and Pinho reported from Los Angeles.
