Silicon Valley’s endorsement of Donald Trump is creating ripples through the tech community, especially among Black startup founders. Key figures like Sequoia’s Doug Leone, Shaun Maguire, Keith Rabois from Khosla Ventures, and David Sacks of Craft Ventures have historically leaned right. But the recent public support from Marc Andreessen and Ben Horowitz of Andreessen Horowitz has left many Black founders feeling betrayed.
Black founders are questioning their alliances. A Nigerian American founder, who wished to remain anonymous, lamented that the support for Trump undermines their struggles. “They are supporting candidates that don’t want people like me to have a fair shot or level playing field,” they said. It’s hard to stay optimistic with the odds already stacked against them and knowing a meager 2% of funding goes to Black founders.
Not every Black founder is deterred by an investor’s political stance. Some will still sign term sheets with Trump-supporting VCs. Yet, others feel a deep sense of betrayal, especially by Horowitz. David Mullings, founder of Blue Mahoe Holdings, believes Horowitz’s reputation among the Black community will suffer. “It shows that he doesn’t actually understand our lived experiences,” Mullings said.
Trump’s policies are seen as harmful to people of color. His fierce anti-immigrant stance threatens the tech sector reliant on immigrant talent. Trump’s past DEI ban at the federal level is another concern. He’s even considered removing federal funding from schools offering race and racism curricula. His administration’s disregard for climate change disproportionately affects Black and brown communities.
A controversial proposal, Project 2025, drafted by former Trump officials, threatens even more severe changes. It calls for dismantling the Department of Education, banning abortion pills, and increasing presidential power. Though Trump has distanced himself, his supporters mix these ideas with what they believe Trump will deliver.
Horowitz’s support is a bitter pill. Known as an advocate for the Black community, Horowitz, with his wife, Felicia Wiley Horowitz, has hosted events for Black tech entrepreneurs. He’s written a book praised by Henry Louis Gates Jr. and spoken about the Haitian revolution. His relationship with activist Shaka Senghor stands as a testament to his commitment. Thus, his support for Trump, who favors policies benefitting crypto regulation and lower taxes, stings many Black founders.
Horowitz once publicly distanced himself from his father’s Trump support, emphasizing his solidarity with the Black community. The Nigerian American founder summed it up: “It appears personal interest and profit supersede people.”
2020 and 2021 were landmark years for Black tech. Many saw a glimmer of hope. Even Andreessen Horowitz launched an accelerator for marginalized founders. But now the community is rethinking alliances. One Black investor noted, “Ben embracing celebrities and quoting rap lyrics does not mean Ben is committed to equal rights.” Proximity to Black figures is not allyship, Khadijah Robinson of The Nile List pointed out.
Arlan Hamilton of Backstage Capital, which once counted Andreessen as an investor, expressed surprise at the public endorsement. “I’m more surprised that they said it out loud instead of just funding anonymously,” she said.
Andreessen’s support is less shocking given his libertarian viewpoints. His Techno-Optimist Manifesto targeted “regulatory capture” and socialism as enemies. For Black founders, the fear is tech billionaires favoring capital gains over democracy.
“It’s not shocking to see people putting their self-interest first,” stated another Black founder. Tobi Ajala, founder of TechTee, isn’t surprised by the Trump support either. This push has Black founders reconsidering their options beyond the obvious choices.
Black founders now find themselves navigating complex waters. They must network wisely without alienating potential investors. Despite feeling betrayed, they strive to stay pragmatic. “Politics, like investing, is unemotional,” another fintech founder remarked. “The market moves with who it thinks will do the best for them.” The Trump support wave is a lens through which many are now reassessing their future paths.
NEWS/POLITICS, Technology, Social Issues
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