TechFlow news — On July 17, according to TechCrunch, Marc Andreessen and Ben Horowitz, co-founders of Silicon Valley venture capital firm Andreessen Horowitz (a16z), explained in the latest episode of their podcast why they are supporting Donald Trump in the 2024 presidential election.
Andreessen said that although he has previously been a supporter of the Democratic Party, he believes Trump's policies are more favorable for technology and startup companies. The two co-founders pointed out that the Biden administration’s excessive regulation and proposed taxation on unrealized capital gains would severely hinder innovation. In contrast, Trump’s policies would benefit the tech industry, including support for artificial intelligence and cryptocurrency.
In addition, Andreessen mentioned that during a recent dinner, Trump stated that while artificial intelligence is extremely concerning, the U.S. must win in this domain or China will prevail in the competition. The Biden administration, by contrast, plans to impose "excessive regulation" on AI, which would put America at a disadvantage in global competition.
Andreessen also noted that Trump’s regulatory approach toward cryptocurrency is one of "full support," whereas the Biden administration’s plan could harm the industry’s development. These factors have led Andreessen and Horowitz to decide to back Trump in this election.
