Kamala Harris Seeks to Rekindle Silicon Valley Support Amid Shifts to Trump

As the 2024 U.S. presidential race intensifies, Kamala Harris’s campaign is engaging in a full-scale effort to win back Silicon Valley, a once reliable Democratic stronghold that has shown growing warmth toward Donald Trump. The vice president’s team has launched a strategic outreach to top tech executives and investors, as several key figures in the industry express frustration with the Biden administration’s policies on antitrust and cryptocurrency regulation.

At the center of Harris’s campaign is the delicate balancing act of wooing Silicon Valley power players while managing the concerns of liberal Democrats who are wary of corporate influence. Harris’s team is walking a fine line, emphasizing that while she values the tech industry’s input, she will chart her own course as president. This message is particularly crucial, as some prominent tech figures, including Tesla CEO Elon Musk, have aligned themselves with Trump, seeking a more business-friendly regulatory environment.

Mark Cuban, a key figure in Harris’s outreach and a well-known investor, highlighted the shift in tone from the Democratic camp. “They have been public about wanting to take input wherever they can, regardless of party affiliation,” Cuban said, reflecting on Harris’s approach. “That is 180 degrees from where it had been.”

This courtship of Silicon Valley leaders has not been without challenges. Many tech investors remain critical of President Biden’s stance on antitrust enforcement and artificial intelligence, which they argue stifles innovation. Cryptocurrency markets, too, have faced strict regulatory scrutiny under the Biden administration, leaving the sector at odds with the Democratic Party.

To bridge this divide, Harris’s campaign has engaged key tech figures through private meetings and fundraisers. Tony West, Harris’s brother-in-law and Uber’s chief legal officer, has played a pivotal role, meeting with business leaders across the country to garner support. West’s efforts have been complemented by high-profile fundraisers, including one co-chaired by Google’s attorney Karen Dunn and another hosted by Amazon’s general counsel David Zapolsky.

Tickets to these events have fetched up to $50,000 per attendee, underscoring the importance of tech donors in Harris’s record-breaking campaign fundraising, which has surpassed $1 billion. The outreach has extended beyond fundraising, with Harris’s team holding private sessions with tech executives to discuss the campaign’s stance on issues such as artificial intelligence, cryptocurrency, and the regulatory landscape.

One notable figure, Ben Horowitz, a longtime Democratic donor who endorsed Trump earlier this year, has shown signs of reconsideration. After conversations with Harris and West, Horowitz hinted at the possibility of supporting the vice president’s campaign. “There are signals that Harris could forge a path that tech leaders can work with,” said a source familiar with the discussions.

However, the challenge for Harris remains balancing her connections to Silicon Valley with the demands of liberal Democrats who are calling for stricter regulations on Big Tech. Figures like Reid Hoffman, the LinkedIn founder and prominent Democratic donor, have voiced concerns about the party’s direction. Hoffman has urged Harris to replace Federal Trade Commission Chair Lina Khan, who has led the charge against major tech companies such as Meta, Microsoft, and Amazon.

Despite these pressures, Harris has avoided making firm commitments regarding personnel changes at the FTC or the Securities and Exchange Commission. In meetings, Harris’s team, including West, has emphasized that the vice president would make her own decisions as president, distancing herself from calls for immediate policy shifts.

Amid this complex political landscape, the Harris campaign is also appealing to “Little Tech,” smaller companies that have benefited from greater antitrust enforcement against industry giants. At a recent fundraiser hosted by Y Combinator CEO Garry Tan, Harris received enthusiastic support from executives who see her as a champion for innovation and startups.

Jeremy Stoppelman, the CEO of Yelp, described the event as “electric,” underscoring the growing recognition that Harris’s connections to the tech industry, particularly in California, could be a valuable asset if she wins the presidency. “It would be very difficult for a Harris administration not to reappoint Lina Khan,” Stoppelman said, pushing back against calls to remove the antitrust enforcer.

As the 2024 election nears, Harris’s campaign is navigating a fine line between appeasing Silicon Valley donors and maintaining the support of liberal Democrats. With the tech sector playing an increasingly prominent role in the election, Harris’s success in balancing these interests could prove decisive in determining the outcome of her campaign.