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While some tech moguls like Elon Musk are celebrating Donald Trump’s election as vice president, not all major companies were quick to offer their congratulations.
President Trump on Monday picked freshman senator J.D. Vance as his running mate. Mr. Vance, who briefly worked as a venture capital investor for three companies in Silicon Valley and the Midwest, has close ties to tech and political kingmaker Peter Thiel. Initial public congratulations came from men in the tech industry with ties to Mr. Thiel, including Mr. Musk, who has known Mr. Thiel for decades.
Trump-Vance pairing ‘rings victory,’ Musk says Posts On Monday, day X.
Some venture capitalists are similarly excited about Vance.
He is “an American patriot with the courage to fight America’s wars and the wisdom to know when to avoid them.” I have written Craft Ventures’ David Sacks talks about X.
Sachs, along with Thiel and Musk, are part of the “PayPal Mafia,” a group of early PayPal founders and employees who went on to invest in and start technology and venture capital companies. Delian Asparoukhov, a partner at Thiel-backed venture capital firm Founders Fund, said: Posts Express your support for the news with three American flag emojis.
Support also came from people who don’t know Vance personally.
“The reality is, we have a younger candidate who seems to be more tech-savvy, and I think that’s a good thing for the party,” said Matt Murphy, a partner at Menlo Ventures. Bloomberg.
The former U.S. Marine has departed from mainstream Republican policy by taking less orthodox positions on economic issues, including supporting a higher minimum wage and corporate taxes.
Most famously, Vance has been a vocal supporter of antitrust enforcement against big tech companies by the Federal Trade Commission. Mr. Vance and other emerging investors like Mr. Thiel see breaking up big tech companies as a way to level the playing field for smaller tech companies that have been pushed out by better-funded incumbents.
But some business leaders, such as billionaire hedge fund manager Ken Griffin, a major Republican donor, opposed Trump’s decision. The Washington Post reported. In a statement, Griffin told the Post that Trump “has selected many excellent people to be vice president, and I appreciate the president and his team’s thoughtful consideration.”
One of Vance’s harshest critics has been Rupert Murdoch, the former chairman of News Corp. The media giant sent executives to meet with Trump to urge him to oppose Vance and support North Dakota Governor Doug Burgum, the Journal reported. Report by NOTUS.
Vance’s rivals for Trump’s running mate included Florida Sen. Marco Rubio and Burgum, who both endorsed him after the vice presidential pick was announced.
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