Venture capitalist Ben Horowitz, known for backing former President Donald Trump’s re-election bid, is now planning to make a “significant” donation to Vice President Kamala Harris’ presidential campaign.

Horowitz’s Shift in Political Support

This shift comes just months after Horowitz and his business partner, Marc Andreessen, advocated for Trump as the best option for the tech industry, including cryptocurrency. During that period, President Joe Biden was still running for re-election.

In July, Andreessen commented on the difficulties faced by the tech industry under the Biden administration, stating,

“This has been a brutal assault in a nascent industry that I’ve just… I’ve never experienced before… it’s been impossible to make progress in this with the White House.”

Horowitz also claimed that the Biden administration “subverted the rule of law to attack the crypto industry.” He emphasized the emotional impact of these challenges, particularly regarding the future of cryptocurrencies.

Kamala Harris Enters the Race

After Harris entered the presidential race in late July, Horowitz reconsidered his stance. In an email to Andreesen Horowitz employees, he revealed that he and his wife, Felicia, have known Harris for over a decade and have developed a friendship. Harris even assisted with some early events at Horowitz’s home during the firm’s early days.

Horowitz shared that he’s had encouraging discussions with Harris about her tech policies. He stated,

“From a firm perspective, we continue to only take positions consistent with our Little Tech Agenda and how the various candidates that support or don’t support policies to build a strong startup technology industry.”

Criticism of Biden Administration

Despite his newfound support for Harris, Horowitz criticized the Biden administration’s tech policies, calling them “exceptionally destructive,” particularly in areas like crypto, blockchain, and artificial intelligence. He remains hopeful that a Harris presidency will bring positive changes but is cautiously optimistic.

Support from Other Venture Capitalists

Other notable venture capitalists have also announced their support for Harris, including LinkedIn co-founder Reid Hoffman, OpenAI investor Ron Conway, and Mark Cuban, minority owner of the Dallas Mavericks.

However, billionaire Elon Musk, Sequoia Capital’s Shaun Maguire, and the Winklevoss twins continue to support Trump.

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