Venture Capitalist Ben Horowitz Changes His Mind, Decides to Donate to Harris After Backing Trump

Venture capitalist Ben Horowitz and his wife Felicia are set to make a “significant” personal donation to Vice President Kamala Harris’ presidential campaign, according to an internal email obtained by Axios. 

The move marks a notable shift for Horowitz, who alongside his business partner Marc Andreessen had previously made headlines for endorsing and donating to Donald Trump , positioning him as the best candidate for technology startups.

What explains the U-turn?

In an email to employees at Andreessen Horowitz, the prominent venture capital firm he co-founded, Horowitz announced his decision, citing a long-standing personal relationship with Harris. He emphasized that Harris has been "a great friend" to both him and his wife over the past decade, and noted her support for the firm’s early activities, including events held at his home.

“As a result of our friendship, Felicia and I will be making a significant donation to entities who support the Harris Walz campaign,” Horowitz wrote in the email.

Here is what else you need to know

Despite his personal support for Harris, Horowitz made it clear that the firm itself has not changed its official stance, which is centered around what they call the “Little Tech Agenda,” a set of priorities focused on policies to strengthen the startup technology industry. Horowitz acknowledged that while he has had positive conversations with Harris and her team, her campaign has not yet formally outlined its tech policy.

“I am very hopeful that the Harris Administration will be much better,” Horowitz said, referring to his optimism about her potential approach to tech policies. However, he remained cautious, adding, “They have not yet stated what their tech policy will be, so the firm will not be updating its position in that regard.”

Horowitz’s latest move stands in stark contrast to his earlier stance alongside Andreessen, when both supported Trump during his re-election campaign. This shift comes at a time when the Biden administration has faced heavy criticism from Horowitz, particularly regarding its handling of key tech issues like cryptocurrency, blockchain, and artificial intelligence.

While the firm itself remains committed to evaluating candidates based on their alignment with its Little Tech Agenda, Horowitz’s personal decision to back Harris signals his belief in her potential to foster a more favorable environment for the tech industry. It isn't clear as of now if Marc Andreessen has changed his mind as well.