Silicon Valley venture capitalists have outlined their policy priorities as they rally behind Kamala Harris in her presidential bid. A survey of 225 venture capitalists, who signed a letter of support for Harris, revealed a shared focus on key issues like abortion rights, climate change, and tech-friendly regulations. Nearly all participants opposed the Supreme Court’s decision to overturn Roe v. Wade, viewing the ruling not just as a social issue but as a business concern affecting women’s workplace equity.
Harris, with deep ties to California and the tech sector, is seen as a pro-technology candidate, fostering optimism among industry leaders who are eager to see the U.S. adopt more progressive AI regulations. Participants in the survey overwhelmingly supported the need for leaders well-versed in emerging technologies like AI and cryptocurrency, with nearly 97% emphasizing the importance of having knowledgeable regulators. Additionally, a substantial 94% advocated for expanding H-1B visas to attract more high-skilled international talent to the tech industry.
The venture capitalists’ support for Harris reflects nostalgia for the Obama administration, which fostered a positive relationship with Silicon Valley. In contrast, the Biden administration has taken a tougher stance, exemplified by the Federal Trade Commission’s efforts to curb alleged monopolistic practices by companies like Amazon and Microsoft. Some venture capitalists hope that Harris, if elected, will take a more pro-business approach, potentially replacing FTC Chair Lina Khan.
Notably, Harris’ stance on artificial intelligence has attracted significant attention. Her campaign has positioned the U.S. as a leader in AI innovation, and Harris has secured voluntary commitments from tech companies regarding AI development. The tech industry is eager for the U.S. to adopt comprehensive AI legislation, similar to Europe, while avoiding overly prescriptive regulations that could stifle innovation.
Harris has also received substantial financial backing from the tech community. A recent fundraiser in San Francisco raised over $12 million for her campaign. Prominent figures like LinkedIn co-founder Reid Hoffman and Kieran Snyder, who helped lead the “VCs for Kamala” initiative, have actively supported her bid, signaling confidence in her ability to drive pro-innovation policies.
However, Harris is not the only candidate with tech industry support. Former President Donald Trump has garnered backing from figures like Tesla CEO Elon Musk and venture capitalists Marc Andreessen and Ben Horowitz. Trump’s running mate, venture capitalist J.D. Vance, has built a network of tech donors aiming to push the U.S. to the right, promoting free speech and rolling back Biden’s AI executive order.
As the race continues, Silicon Valley remains divided, but Harris’ tech-focused policies and her history of engagement with the industry have positioned her as a favored candidate among many venture capitalists who are eager to see a more business-friendly administration.