Key Points
- Andreessen Horowitz, a venture capital firm co-founded by Marc Andreessen and Ben Horowitz, has announced its intention to support political candidates who align with their technological vision.
- Particular support will be given to those in favour of the rapid development of tech in the areas of web3 and crypto, medical tech, and A.I.
- The firm says it will oppose candidates who threaten “America’s advanced technological future” with heavy regulation.
In a recent blog post, billionaire Ben Horowitz outlined the venture capital firm’s plan to favour candidates who, in their view, promise to advance technological development and oppose those who would curb this growth with harsh regulation. The firm, considered influential in Silicon Valley, lists Airbnb, Coinbase, Facebook and Instacart among its high-profile investments. This move into political donations marks a new chapter in the company’s activities, however, the specific details including how much they plan to donate and which candidates they aim to support, have not been released.
The announcement follows an October essay entitled “The Techno-Optimist Manifesto” penned by Andreessen. In it, he acknowledges enemies of the firm, such as those who support “statism, authoritarianism, collectivism, central planning, socialism.” Andreessen is known to advocate for “effective accelerationism,” a Silicon Valley movement that emphasises quick innovation advancement.
Andreessen Horowitz’s stance is uncompromising in its opposition to those who could “kill America’s advanced technological future.” This coincides with regulatory changes affecting two tech sectors critical to the firm’s interests: A.I. and crypto. The specifics of how this political backing will operate on a practical level are still up for debate. Questions include whether the firm will become involved in state election levels or primary level politics, and where their donation dollars will be most effective.
The announcement comes at a time when individual venture capitalists have been seen to donate significantly to political campaigns. This includes other prominent figures, like Peter Thiel of Thiel Capital, who has already donated large sums to political action committees and parties for the upcoming 2024 election cycle.
