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Some Silicon Valley venture capitalists have begun to turn against President Joe Biden while openly touting their support for former President Donald Trump — a sea change for an industry that has overwhelmingly supported Democrats in years past.

Prominent moguls such as David Sacks, Chamath Palihapitiya, Marc Andreessen and Shaun Maguire have grown disillusioned with signature Biden policy proposals such as his call for a 25% “billionaire tax” as well as antitrust crackdowns waged by the Federal Trade Commission.

Its impossible to support Biden, Keith Rabois, an early executive at PayPal who also played a role in the growth of LinkedIn, Square and Slide, told The New York Times.

While Rabois said he was not a fan of Trump, he would be “focused on electing a GOP Congress and Senate.”

Tech executives are also unhappy with the stringent regulations imposed on the cryptocurrency sector by Gary Gensler, Biden’s pick to head the Securities and Exchange Commission.

Lina Khan, Biden’s chair of the FTC, has sought to move aggressively against large tech companies that critics say have amassed too much power in the marketplace.

Khan unsuccessfully challenged Microsoft’s $70 billion acquisition of video game maker Activision Blizzard as well as Meta’s attempt to buy virtual reality startup Within.

Last year, the FTC sued Amazon, accusing the e-commerce giant of being a monopoly.

Andreessen, founder of powerhouse VC firm Andreessen Horowitz, recently said there are “real issues” with the Biden administration.

A second Trump administration would be staffed by “very different kinds of people” particularly at the SEC and FTC, Andreessen said in a recent podcast interview.

Ben Horowitz, co-founder of Andreessen Horowitz, wrote in a blog post last year that his company would support any politician who backed “an optimistic technology-enabled future.”

Sacks, the entrepreneur and investor who made his fortune as chief operating officer at PayPal during its early days, plans to host a fundraiser for Trump as well as interview the former president on his “All In” podcast.

After the Jan. 6, 2021 riots at the US Capitol, Sacks said that the incident disqualified Trump from elected office.

But four years of a Biden presidency have changed Sacks’ mind, according to The New York Times.

“I have bigger disagreements with Biden than with Trump,” Sacks was quoted as telling a tech conference last week.

Sacks cited Biden’s tax proposal, which would penalize startup founders who are wont to offer stock options to employees.

Its a good reason for Silicon Valley to think really hard about who it wants to vote for, Sacks told tech investors at the conference.

Last month, Sacks was one of a handful of prominent tech moguls who attended an “anti-Biden” dinner alongside Elon Musk and Peter Thiel.

Palihapitiya, the venture capitalist who was Mark Zuckerberg’s vice president of user growth shortly after the founding of Facebook, has also flipped from backing Democrats in the past to endorsing Trump.

Palihapitiya, the founder of the venture capital firm Social Capital, plans to co-host the fundraiser for Trump alongside Sacks, according to the Times.

Such open expressions of support for Trump was virtually unheard of in Silicon Valley in recent election cycles.

Four years ago you had to issue an apology if you voted for him, Delian Asparouhov, an investor at the Thiel-backed Founders Fund, wrote on his X account.

Shaun Maguire, an investor at Sequoia Capital, has criticized Biden on social media, though he has refrained from directly supporting Trump.

Biden has been getting away with double standards his entire career

3 strike laws for thee but not for me (Hunter)

Keeping classified documents without punishment

And now withholding aid to an ally

Well see what happens this time https://t.co/cUh8qCRbMY

After Biden indicated that the US would withhold certain weapons to Israel in the midst of the war in Gaza, Maguire accused him of “getting away with double standards his entire career” — a reference to the Democrats’ drive to impeach Trump for threatening to withhold aid from Ukraine during his presidency.

“We’ll see what happens this time,” Maguire wrote on his X account on May 9.

The Post has sought comment from the White House.

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Sports

Yanks’ Cole rocked by Mets in 4-HR, 0-K outing

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Yanks' Cole rocked by Mets in 4-HR, 0-K outing

NEW YORK — Gerrit Cole‘s first start of the 2024 season went about as well as he and the Yankees could have hoped last week. His second outing Tuesday night against the Mets didn’t.

Cole was blasted over four innings, yielding six runs on seven hits in the Yankees’ 9-7 loss at Citi Field. He gave up four home runs, walked four and didn’t record a strikeout. It was the second time Cole didn’t register a strikeout in his career and the second time he allowed at least four home runs.

“Just disappointing,” Cole said. “Didn’t really give us a good chance to win tonight. Didn’t execute enough pitches. Just kind of dug us a hole.”

Two positives offered a silver lining: Cole threw 72 pitches, more than in any of his three rehab starts in the minors or his season debut, and the right-hander said he was healthy despite his fastball velocity decreasing after the first inning.

Cole’s fastball was 97 to 99 mph for the first time in 2024 in that first frame, an encouraging burst three months removed from being shut down with nerve irritation and edema in his right elbow. His first fastball in the second inning, however, was a 91.5 mph offering that Mark Vientos cracked for a home run. Cole didn’t throw a pitch harder than 95.5 mph for the remainder of his outing.

After the game, Cole insisted the drop-off was by design and that he was healthy. He explained he intentionally dialed back the velocity after issuing three walks and throwing 28 pitches as the Mets jumped out to a 1-0 lead in the first inning because he believed the strategy would give him the best chance to work efficiently and avoid an early exit with a 75-pitch limit.

“It’s a bit like driving a car,” Cole, 33, said. “Too much clutch or too little clutch can slip you out of gear a little bit. So, obviously, it came out really tremendous in the first and had to make a lot of pitches. But the reality is we just weren’t in the strike zone enough. The objective is to try to get as deep in the ballgame as you can.”

Cole issued just one walk over his final three innings, but he couldn’t put hitters away. He induced just five whiffs while the Mets fouled off 11 pitches. Six balls hit into play traveled at least 101.5 mph. Vientos barreled two of those hard-hit balls for home runs — both on fastballs after Cole said he chose to shave velocity off the pitch.

“He’s still working back,” Yankees center fielder Aaron Judge said. “That’s our ace. That’s our guy. And I want him out there every single five days. Games like this happen, and you just got to move on and learn from it. He’ll be fine.”

Cole is slated to next pitch Sunday in Toronto against the Blue Jays, barring a change to the Yankees’ rotation.

“My execution was poor, so I never really gave myself a chance to learn anything,” Cole said. “To get a foul ball or to get a mishit, it ended up in damage. This league is really hard. I certainly had the stuff tonight to give us a chance, and I just pitched poorly.”

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Sports

Ohtani ‘growing as hitter’ sans pitching workload

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Ohtani 'growing as hitter' sans pitching workload

CHICAGO — Halfway through his first season with the Los Angeles Dodgers, Shohei Ohtani looks quite comfortable with his new surroundings.

The Japanese slugger has been a sweet-swinging Hollywood blockbuster so far.

The Dodgers are on top of the NL West with a 50-31 record, and Ohtani has played a major role in their strong start. The two-time AL MVP is batting a career-high .320 with 24 homers, 60 RBIs and a 1.032 OPS in 78 games.

“It’s really about getting to know the guys,” Ohtani said Tuesday night through an interpreter. “You know I had my first impression, but really getting to know who the people are and the organization.

“As I stated before, I decided to sign with this team and wanted to do the best that I can to fit in. So I think overall, looking back, it’s been a really good first half.”

Ohtani, who turns 30 on July 5, agreed to a record-shattering $700 million, 10-year contract in December. The two-way sensation isn’t pitching this year while he recovers from elbow surgery, and it looks as if putting more of his focus on hitting is helping him at the plate.

“The reality is the workload has been a lot less,” Ohtani said. “So I can’t deny that. But at the same time, as a hitter, I’ve been getting better and overall I think I’ve been growing as a hitter, too.”

Ohtani hit a leadoff homer during Tuesday night’s 4-3 victory over the Chicago White Sox, extending his RBI streak to a career-high nine consecutive games — matching a franchise record. He walked and scored in the third inning, and then hit a tiebreaking RBI single in the fourth.

Ohtani moved into the leadoff spot after Mookie Betts was sidelined by a broken left hand. He is batting .419 (13-for-31) with five homers and 14 RBIs in eight games since Betts got hurt.

“I don’t know what more we can really say about him,” Dodgers first baseman Freddie Freeman said. “I think we’ve said everything we can since he entered this league, about what an amazing player he is. But when you come over here, you just never know how first year’s going to go on any team.

“Sometimes you just got to step back and just appreciate a player like this.”

Ohtani drove a hanging curveball from Chris Flexen into the visitor’s bullpen in right-center for his NL-best 24th homer. White Sox right fielder Tommy Pham tried to make a leaping grab on the play, but was unable to bring it in.

Ohtani got so caught up in tracking the ball that he carried his bat as he jogged up the line. After discarding his lumber, he went back to touch first base because he was concerned that he missed the bag the first time around.

“Just wasn’t quite sure that I stepped on the bag,” he said.

It was Ohtani’s second leadoff homer of the season and No. 8 for his career. He is the first player to drive in at least one run in nine consecutive games for the Dodgers since Hall of Fame catcher Roy Campanella in 1955.

Dodgers manager Dave Roberts said Ohtani is being more selective at the plate, and it’s paying off.

“When you do that,” Roberts said, “you earn pitches in the strike zone, and when he does that, a lot of special things happen.”

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Politics

Scale of gambling scandal for Tories is different magnitude to Labour’s issue

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Scale of gambling scandal for Tories is different magnitude to Labour's issue

After days of furore directed at Rishi Sunak for the election betting scandal, now a Labour candidate is under investigation by the Gambling Commission for his own betting activity – and is immediately suspended. 

Is this an equaliser in one of the grubbiest electoral sagas of recent elections? Quite possibly not.

There is no doubting the utter dismay in Labour HQ at the revelation that they too have a candidate caught up in the betting scandal.

Politics live: Labour to return £100k donation to suspended candidate

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Tories launch own probe into betting scandal

It lends itself to the easy narrative that there’s a plague on all politicians’ houses – everyone as bad as each other.

However, if the facts are as presented, the scale of the challenge for the Tories is of a different order of magnitude to that now facing Labour.

Labour’s Kevin Craig was suspended immediately after the party was informed by the Gambling Commission of the probe.

We are told that he placed a bet – not on the election date, but that he would lose his race in a general election.

He is certainly guilty of gross stupidity, as he admitted in a statement on Tuesday evening.

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However, if this scenario is as presented, it is hard to see an allegation being mounted that he had insider intelligence on the race – unless it can be proved he was deliberately setting out to lose.

An under-pressure Gambling Commission will investigate every candidate’s name on the spreadsheet from gambling companies of those who placed bets – but it is unclear from available facts where this will go.

The Tory betting saga, however, is more complicated and now on its 13th day.

It was almost two weeks ago that Craig Williams – Rishi Sunak’s closest parliamentary aide and former Montgomeryshire MP – admitted he had placed a bet on the election date – a date he might have known before the public at large.

He denies he committed any offence, and remains under investigation.

Read more:
How to follow election night with Sky News
A simple guide to the main parties’ policies

Laura Saunders, standing for the Tories just south in Bristol North West, has also been suspended for putting a bet on the date when her partner worked in Conservative headquarters on the election.

For most of that time, Mr Sunak has been insisting he could not suspend either candidate because of the ongoing probe by the Gambling Commission.

Ministers, as well as opponents, weighed in.

And on Tuesday he reversed that decision under that pressure.

This means there are questions about the prime minister’s own judgement and unwillingness to act on top of questions about the behaviour of those closest to him.

Craig Williams and Laura Saunders. Pics: PA/Laura Saunders for Bristol North West
Image:
Craig Williams and Laura Saunders have both been suspended from the Tories. Pics: PA/Laura Saunders for Bristol North West

This story has had massive cut through with the public, topping the charts for any news story in the UK – according to YouGov’s AI news tracker – for the last four days.

There is dismay from the cabinet downwards.

Labour’s own problems have undermined their own ability to go on the attack. But it is not clear that voters will see the two issues on the same scale.

The full list of the candidates running for Central Suffolk and North Ipswich is:

Charlie Caiger, independent;
Tony Gould, Reform UK;
Mike Hallatt, independent;
Brett Alistair Mickelburgh, Lib Dems;
Dan Pratt, Greens;
Patrick Spencer, Conservatives.

The full list of candidates for Bristol North West is:

Caroline Gooch, Lib Dems;
Darren Jones, Labour;
Scarlett O’Connor, Reform UK;
Mary Page, Green Party;
Ben Smith, SDP.

The full list of candidates for Montgomeryshire and Glyndwr is:

Jeremy Brignell-Thorp, Green Party;
Oliver Lewis, Reform UK;
Glyn Preston, Lib Dems;
Elwyn Vaughan, Plaid Cymru;
Steve Witherden, Labour.

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