US Democrat Harris gets backing from more than 100 venture capitalists By Reuters

WASHINGTON (Reuters) -Greater than 100 enterprise capitalists together with entrepreneur Mark Cuban threw their assist behind U.S. Democratic presidential candidate Kamala Harris on Wednesday, a counterweight to tech billionaires backing Republican rival Donald Trump.

Silicon Valley has historically been seen as a liberal bastion, however Republicans have gained assist from distinguished business figures on this election cycle. They had been bolstered by Trump’s choice of U.S. Senator JD (NASDAQ:) Vance, a former enterprise capitalist, as working mate. However President Joe Biden’s determination to drop off the Democratic ticket on July 21 has reenergized some within the tech business who beforehand had stayed on the sidelines.

“We spend our days on the lookout for, investing in and supporting entrepreneurs who’re constructing the long run. We’re pro-business, pro-American dream, pro-entrepreneurship, and pro-technological progress,” the group stated in a public petition posted on-line.

“We additionally imagine in democracy because the spine of our nation. We imagine that robust, reliable establishments are a function, not a bug, and that our business – and each different business – would collapse with out them.”

Reid Hoffman, a LinkedIn founder, investor Chris Sacca, Katie Stanton of Moxxie, Eva Ho of Fika Ventures and Rebecca Kaden of Union Sq. Ventures, had been amongst those that signed the letter and pledged to vote for Harris within the Nov. 5 election.

Field CEO Aaron Levie, a Democratic donor, instructed Reuters that many individuals in Silicon Valley had been “disillusioned” with the state of the Democratic Get together underneath Biden. Levie, who is just not a VC, has not signed this petition however has donated to Harris’ marketing campaign, in addition to Biden’s earlier than he dropped out.

Harris’s ascension “fully modified the panorama,” he stated, pointing to a flurry of donations each private and non-private from his business friends. The floodgates may open additional, he stated, as soon as Harris laid out her stance on enterprise and expertise.

Zynga (NASDAQ:) founder Mark Pincus, one other Democrat donor who earlier this month wrote in an op-ed that Biden was riskier than Trump, stated he was now “undecided and confused.” Harris’s demonstration of a pro-innovation platform may clear up the confusion, he instructed Reuters in an e-mail.

“Thus far Trump and the GOP have stated the suitable issues on these fronts however who is aware of if we are able to belief him,” Pincus stated.

Wednesday’s letter from enterprise capitalists comes after Trump drew assist from different rich, high-profile Silicon Valley enterprise capitalists and buyers.

Elon Musk, the billionaire CEO of Tesla (NASDAQ:), publicly endorsed Trump for the primary time after the July 13 assassination try on the previous U.S. president.

Entrepreneur and investor David Sacks, the previous chief working officer of PayPal (NASDAQ:) and an in depth good friend of Musk, has additionally hosted fundraisers for Trump.