{"id":14953,"date":"2024-06-26T10:37:39","date_gmt":"2024-06-26T08:37:39","guid":{"rendered":"http:\/\/costops.com\/index.php\/2024\/06\/26\/silicon-valley-wants-unfettered-control-of-the-tech-market-thats-why-its-cosying-up-to-trump-evgeny-morozov\/"},"modified":"2024-06-26T10:37:39","modified_gmt":"2024-06-26T08:37:39","slug":"silicon-valley-wants-unfettered-control-of-the-tech-market-thats-why-its-cosying-up-to-trump-evgeny-morozov","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2024\/06\/26\/silicon-valley-wants-unfettered-control-of-the-tech-market-thats-why-its-cosying-up-to-trump-evgeny-morozov\/","title":{"rendered":"Silicon Valley wants unfettered control of the tech market. That\u2019s why it\u2019s cosying up to Trump | Evgeny Morozov"},"content":{"rendered":"

Spooked by Biden\u2019s wealth tax, big tech venture capitalists are showing their progressive credentials were only ever skin deep<\/p>\n

Hardly a week passes without another billionaire endorsing Donald Trump. With Joe Biden proposing a 25% tax<\/a> on those with assets over $100m (\u00a380m), this is no shock. The real twist? The pro-Trump multimillionaire club now includes a growing number of venture capitalists. Unlike hedge funders or private equity barons, venture capitalists have traditionally held progressive credentials. They\u2019ve styled themselves as the heroes of innovation, and the Democrats have done more to polish their progressive image than anyone else. So why are they now cosying up to Trump?<\/p>\n

Venture capitalists and Democrats long shared a mutual belief in techno-solutionism \u2013 the idea that markets, enhanced by digital technology, could achieve social goods where government policy had failed. Over the past two decades, we\u2019ve been living in the ruins of this utopia. We were promised that social media could topple dictators, that crypto could tackle poverty, and that AI could cure cancer<\/a>. But the progressive credentials of venture capitalists were only ever skin deep, and now that Biden has adopted a tougher stance on Silicon Valley, VCs are more than happy to support Trump\u2019s Republicans.<\/p>\n

Evgeny Morozov is the author of several books on technology and politics. His latest podcast, A Sense of Rebellion<\/a>, is available now<\/p>\n

Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters<\/a> section, please click here<\/a>.<\/strong><\/em><\/p>\n

Continue reading…<\/a>
\nSpooked by Biden\u2019s wealth tax, big tech venture capitalists are showing their progressive credentials were only ever skin deep
\nHardly a week passes without another billionaire endorsing Donald Trump. With Joe Biden proposing a 25% tax on those with assets over $100m (\u00a380m), this is no shock. The real twist? The pro-Trump multimillionaire club now includes a growing number of venture capitalists. Unlike hedge funders or private equity barons, venture capitalists have traditionally held progressive credentials. They\u2019ve styled themselves as the heroes of innovation, and the Democrats have done more to polish their progressive image than anyone else. So why are they now cosying up to Trump?
\nVenture capitalists and Democrats long shared a mutual belief in techno-solutionism \u2013 the idea that markets, enhanced by digital technology, could achieve social goods where government policy had failed. Over the past two decades, we\u2019ve been living in the ruins of this utopia. We were promised that social media could topple dictators, that crypto could tackle poverty, and that AI could cure cancer. But the progressive credentials of venture capitalists were only ever skin deep, and now that Biden has adopted a tougher stance on Silicon Valley, VCs are more than happy to support Trump\u2019s Republicans.
\nEvgeny Morozov is the author of several books on technology and politics. His latest podcast, A Sense of Rebellion, is available now
\nDo you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

Spooked by Biden\u2019s wealth tax, big tech venture capitalists are showing their progressive credentials were only ever skin deep Hardly a week passes without another billionaire endorsing Donald Trump. With Joe Biden proposing a 25% tax on those with assets over $100m (\u00a380m), this is no shock. The real twist? The pro-Trump multimillionaire club now …<\/p>\n

Silicon Valley wants unfettered control of the tech market. That\u2019s why it\u2019s cosying up to Trump | Evgeny Morozov<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":14954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/14953"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=14953"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/14953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/14954"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=14953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=14953"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=14953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}