Silicon Valley venture capitalists react to Trump's victory: 'Buckle up'

Yahoo Finance11-09

Silicon Valley venture capitalists who donated hundreds of millions to Trump are bracing for a sea change in tech. "I think there's going to be a renaissance of innovation in America and we're going ...

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It's gonna be pretty, pretty exciting to see.\". In June, Pishevar co-hosted a Trump fundraiser at the home of entrepreneur, podcaster, and investor David Sacks that raised $12 million in one day. Trump's reelection ticket was also bankrolled by Silicon Valley heavyweights like Marc Andreessen and Peter Thiel. Prior to politics, the vice president-elect, Ohio Senator JD Vance, also had a short stint in VC and has close ties to Thiel.Vice President Kamala Harris, who rise to political prominence in the Bay Area, had the backing of nearly 900 venture capitalists in a movement dubbed \"VCs for Kamala.\" Supporters included Mark Cuban, Vinod Khosla, Ron Conway, and","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","BK4094":"服装零售","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","3NVD.UK":"LS 3X NVIDIA","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4588":"碎股","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","BK4532":"文艺复兴科技持仓","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","BK4554":"元宇宙及AR概念","LU1548497426.USD":"安联环球人工智能AT Acc","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4579":"人工智能","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","2NVD.UK":"2X NVIDIA ETP","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","BK4555":"新能源车","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","TSLA":"特斯拉","MSFT":"微软","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","BK4525":"远程办公概念","NVDA":"英伟达","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","BKE":"巴克尔","IE000ITXATA3.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) ACC","BK4577":"网络游戏","L":"洛斯公司","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","IE000YTNTUN2.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG)INC","BK4527":"明星科技股","BK4550":"红杉资本持仓"},"translate_title":"硅谷风险投资家对特朗普获胜的反应：“系好安全带”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TSLA":1,"NVDA":1,"BKE":1,"MSFT":0.9,"L":0.6,"3NVD.UK":0.6,"2NVD.UK":0.6},"content_text":"Silicon Valley venture capitalists who donated hundreds of millions to Trump are bracing for a sea change in tech. \n\"I think there's going to be a renaissance of innovation in America and we're going to do more in four years than we've done the last 40 years,\" Shervin Pishevar, a venture capitalist, told Yahoo Finance. \"So buckle up. It's gonna be pretty, pretty exciting to see.\" \nIn June, Pishevar co-hosted a Trump fundraiser at the home of entrepreneur, podcaster, and investor David Sacks that raised $12 million in one day. Trump's reelection ticket was also bankrolled by Silicon Valley heavyweights like Marc Andreessen and Peter Thiel. Prior to politics, the vice president-elect, Ohio Senator JD Vance, also had a short stint in VC and has close ties to Thiel.\nVice President Kamala Harris, who rise to political prominence in the Bay Area, had the backing of nearly 900 venture capitalists in a movement dubbed \"VCs for Kamala.\" Supporters included Mark Cuban, Vinod Khosla, Ron Conway, and Reid Hoffman. Still, that wasn't enough.\n\"I think it's really important to highlight that there is an internal conversation happening in Silicon Valley,\" Stephen DeBerry, VC and Harris supporter, said. \n\"Who are we building for? My proposed answer to that question is simple: It's everyone. Because we have the capacity to do that. We can do that, and that's what great nations do. If we answer that question the wrong way and build for some, but not all, I fear for the future of this country.\"\nMost investors and founders Yahoo Finance spoke to expect Trump 2.0 to help clear regulatory hurdles, making it easier to innovate and sell their companies. Some said their frustrations with democratic policies boiled down to higher taxes, overregulation, and antitrust laws.\n\"The tech ecosystem is going to grow really fast — much faster than the last four years,\" Pishevar said. \"It's been stalled the last four years. VC's have had difficulty raising capital and I think things are going to change. We're really excited about those changes.\"\n\n\n\n  President-elect Donald Trump takes the stage following early results from the 2024 presidential election in Palm Beach County Convention Center, in West Palm Beach, Fla., Nov. 6, 2024. (REUTERS/Callaghan O'Hare/File Photo)\n \n\n  Reuters / Reuters\n \n\nAmong Trump's early agenda may be to undo President Biden's executive order on AI. He also said he plans to install a sweeping tariff policy: 10%-20% on all imports, and an additional 60%-100% on Chinese goods. \n\"I was in a board meeting today and one of my companies uses raw products that come from China — paper products that are printed there,\" DeBerry said. \"So we feel like we are immediately subject to some kind of impact due to tariffs. That is going to flow through to pressure on consumers, unfortunately.\" \nDespite the fears by some, Wall Street has rallied hard this week following Trump's victory. The gains have been led by big-cap tech names such as Nvidia (NVDA).\n\"The markets are a signal of what's coming,\" Pishevar said. \"I think we're going to have an economic boom, we'll control inflation, create a lot of jobs.\"\nTesla (TSLA) CEO Elon Musk, who also owns X (formerly known as Twitter), SpaceX, Neuralink, and generative AI startup xAI, has donated more than $130 million to the Trump campaign. \nFollowing the win, his net worth rose by more than $20 billion as shares of Tesla jumped nearly 15% on Wednesday. In his victory speech, Trump praised Musk as a \"new star\" and \"super genius.\" \n“We have to protect our super geniuses,” Trump told the crowd on election night. While Trump and Musk have so far dismissed the idea that Musk would hold an official government position, it's speculated that Musk will be an influential adviser. \n\"I think America needs to be run like a startup,\" Pishevar said about Musk's role. \"And Elon is the best entrepreneur that we've ever had.\" \nMusk has championed the idea of helming a \"Department of Government Efficiency\" (DOGE). \"We're going to get the government off your back and out of your pocketbook,\" Musk said at a Trump rally in New York City last month. \nHe added he could slash at least $2 trillion from the US budget. According to the Treasury Department, the federal government spent $6.75 trillion in fiscal year 2024. \nWhile Trump didn't say much about AI during his campaign, a second presidency could mean a shakeup in the AI leaderboard. \n\"AI is going to accelerate so fast we're going to reach AGI or super intelligence within the next two to three years,\" Pishevar said. \"I think there will be Manhattan projects for AI, quantum computing, biotech.\" \nMusk's xAI would benefit from light-touch legislation, though Musk has been a supporter of some AI regulation, including California's controversial AI bill that was vetoed by Governor Gavin Newsom. \nWhile Silicon Valley remains split on its tech vision for the Trump presidency, DeBerry said it's not about politics. \n\"If we can come to a consensus that we actually care about building a great society, then I'm excited in that context,\" DeBerry said. \"So the question isn't about technology. The question isn't about economic capability. The question is about our will.\"\nYasmin Khorram is a Senior Reporter at Yahoo Finance. Follow Yasmin on Twitter/X @YasminKhorram and on LinkedIn. Send newsworthy tips to Yasmin: yasmin.khorram@yahooinc.com\nClick here for the latest technology news that will impact the stock market\nRead the latest financial and business news from Yahoo Finance","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482319174"}