The rise of Vice President Kamala Harris to the top of the Democratic presidential ticket has caused a rift among the tech industry’s biggest left-leaning donors — even as a growing number of Silicon Valley bigwigs throw their support behind GOP nominee Donald Trump. .
While Biden quickly endorsed Harris to replace him as the Democratic nominee, some deep-pocketed donors in the tech industry appear skeptical of her ability to win the race — and have argued that the party should embrace an open convention.
“I want an open process at the convention, not a coronation,” noted tech investor Vinod Khosla wrote on X. “The bottom line is who can best beat Trump above all other priorities.”
The head of Khosla Ventures tagged Michigan Democratic Governor Gretchen Whitmer and Pennsylvania Governor Josh Shapiro, adding that “it would be a great thing for America not to be held hostage between MAGA extremists and DEI extremism. Unique opportunity for a better moderate route.”
Whitmer, however, has since removed herself from the race, announcing Monday that she is endorsing Harris and would serve as her campaign co-chair. Shapiro on Monday also signaled his support for Harris.
Netflix executive chairman Reed Hastings said the Democratic Party was “back in the game” after Biden withdrew. However, he did not immediately approve of Harris.
“The House delegates must pick a swing state winner,” Hastings wrote in X.
Hastings had stepped up pressure on Biden earlier this month after he publicly said he would freeze further donations unless another Democrat replaced him.
Mike Novogratz, the founder and CEO of Galaxy Digital Holdings and a cryptocurrency billionaire, also called for a competitive nomination process.
“Donors behind the scenes are saying, who’s the best ticket to win?” Novogratz told the New York Times. “And the donor community I talk to doesn’t think she’s the best to win, but they all think she deserves a fair chance.”
In turn, Harris won a key endorsement from Democratic mega-donor and LinkedIn co-founder Reid Hoffman, who described the vice president as “the right person at the right time.”
“When presented with the choice between Kamala Harris and Donald Trump, I believe that the American people will make the right decision for our country,” Hoffman said.
Alex Soros, the son and heir of liberal billionaire George Soros, also endorsed Harris’ bid, calling her “the best and most qualified candidate.”
In the past, Harris has received political support from former Facebook executive Sheryl Sandberg and Salesforce CEO Marc Benioff. Neither has said whether they are endorsing her as the Democratic nominee for 2024.
President Biden overturned the 2024 election by dropping out of the presidential race on Sunday — a move that followed his disastrous performance in a debate last month that prompted top Democratic leaders and donors to call for his departure.
With the Democratic Party in disarray, Silicon Valley has seen a shift toward Trump this election cycle.
Tesla CEO Elon Musk, investors Marc Andreessen and Ben Horowitz and Palantir co-founder Joe Lonsdale are among those betting the Republican will adopt a friendlier approach to tech innovation, including new areas like cryptocurrencies and artificial intelligence.
Last week, Trump named JD Vance — a venture capitalist and protégé of PayPal billionaire Peter Thiel — as his running mate.
“My smartest friends, including those living in the San Francisco Bay Area who have been lifelong Democrats, are excited about Trump/Vance,” Musk wrote on X after Biden made his announcement.
“I believe in an America that maximizes individual freedom and merit,” added Musk. “That was the Democratic Party, but now the pendulum has swung to the Republican Party.”
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