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☆ Middle East wealth funds are scrambling to rescue their big bets on the future
▼ + stars: | 2024-08-08 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A particular focus for these funds built on the back of petrodollars has been to build ownership and influence in the tech sector. FETHI BELAIDOver the past week, PIF and Mubadala have been busy figuring out what to do when their unbridled ambitions for tech companies face reality. Reports from the Financial Times and Bloomberg have shone a light on efforts being made by the sovereign wealth fund to boost returns in European startups in which it has invested billions of dollars. AdvertisementSeveral of these nascent tech companies, such as the insurance firm WeFox, have been bruised by shifting sentiment in the markets in recent years.

Persons: —, Abu Dhabi's Mubadala, SoftBank's, ByteDance, Prince Mohammed bin Salman, Peter Rawlinson, Lucid, John Keeble, Rawlinson, PIF, it's, Mubadala Organizations: Service, Saudi, Public Investment Fund, Business, PIF, Financial Times, Bloomberg Locations: Middle, petrodollars, Saudi, California

We asked top venture capitalists to name the most promising US startups so far in 2024. VCs named portfolio companies as well as startups that they have no financial ties to. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere's an adage in venture capital that great companies are born out of hard times.

Persons: VCs, —, Uber Organizations: Service, Business

☆ In an oversaturated market for AI companies, these startups have the best shot at surviving
▼ + stars: | 2024-08-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Investors highlighted their portfolio companies and startups they had no financial ties to. Leena Rao, who oversaw the list and leads BI's VCs and startups team, estimated about 80% of the startups included are focused on AI. AdvertisementiStock; BIAs differentiated as AI startups try to be, the market has undeniably become oversaturated. Big Tech reform is coming, but Washington won't be the one doing it. Congress can't or won't act, so people who want Big Tech companies to change their ways are trying to do it through the courts .

Persons: —, Kamala Harris, Tim Walz, Here's, Kimberly White, Chelsea Jia Feng, Leena Rao, BI's, That's, It's, Arindam Sandilya, Paul Dietrick, Oppenheimer, John Stoltzfus, Jenny Chang, Rodriguez, Adam Mosher, Mosher, YouTube's, Jimmy Donaldson, Alyssa Powell, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Boldstart Ventures, TechCrunch, Healthcare, Getty, JPMorgan, FX, UBS, BI Prosecutors, Big Tech Locations: Minnesota, we're, Washington, New York, London

☆ JD Vance called Tim Walz a 'San Francisco-style liberal.' Walz visited the city for the first time last month, while Vance lived there for years.
▼ + stars: | 2024-08-06 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Tim Walz of Minnesota as her running mate, Sen. JD Vance of Ohio hit his new opponent as a "San Francisco-style liberal." "She has governed as a San Francisco liberal, and she's chosen a running mate who will be a San Francisco-style liberal." "Last week was my first time in San Francisco," Walz said on an episode of "The Ezra Klein Show" released on August 2. A few Saturdays ago, my wife and I spent the morning volunteering at a community garden in our San Francisco neighborhood. "I don't even know if we're actually going to get Tim Walz out of this campaign."

Persons: Kamala Harris, Tim Walz, Sen, JD Vance, Ohio, —, she's, Harris, Walz, " Walz, Ezra Klein, Vance, Donald Trump, George Floyd, Joe Biden's, we're, Josh Shapiro Organizations: Service, San, Business, San Francisco, Trump, United, United States Government, Gov, Pennsylvania Locations: Minnesota, San Francisco, Philadelphia, Bay, Presidio, San Francisco neighborhood, Ohio, United States, Minneapolis, Francisco

☆ China's city dwellers will soon have more pets than toddlers, and there's one way investors can cash in on the trend, Goldman Sachs says
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | Aditi Bharade | ) www.businessinsider.com time to read: +6 min

Read previewChina's baby bust could see its urban pet population outnumbering the number of toddlers by 2030, investment bank Goldman Sachs wrote in a July 28 report. According to Goldman Sachs' forecasts, China will have more than 70 million urban pets by 2030. AdvertisementThe rise in pet ownership, the bank said, could help push China's pet food market to $12 billion by 2030. People having more pets than babies shouldn't be surprising considering how China is presently grappling with a demographic crisis. China's population shrank again in 2023, with the number of deaths exceeding the number of births by 2.08 million people.

Persons: —, Goldman Sachs, Lin Zhang, Zhang, Zheng Mu, Zheng, Cash, haven't, Bihan Chen, Emily Huang, Huang, Ann, Hunter van Kirk Organizations: Service, Business, country's National Bureau of Statistics, University of New, Zhang, National University of Singapore, National Association of Realtors, NAR, Bloomberg Intelligence Locations: China, country's, University of New Hampshire, Europe, East Asia

☆ Trump's tech backers are 'making a big mistake,' Sequoia's Mike Moritz says
▼ + stars: | 2024-08-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

As leading tech investors continue to vocally take sides ahead of the 2024 presidential election, legendary venture capitalist Michael Moritz is making his preference clear. In a Financial Times opinion piece published Monday, Moritz wrote that those in the industry who are supporting Donald Trump "are making a big mistake." Moritz was referring to Trump's conviction, earlier this year, on 34 felony counts in New York State court. Other Trump backers include venture capitalists David Sacks and Joe Lonsdale as well as Doug Leone, Moritz's longtime partner at Sequoia. Moritz wrote in his op-ed that Trump's tech financiers and supporters were "making the same mistake as all powerful people who back authoritarians."

Persons: Michael Moritz, Moritz, Donald Trump, Moritz —, LinkedIn —, Trump, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Elon Musk, David Sacks, Joe Lonsdale, Doug Leone, Moritz's, He's, Reid Hoffman, Kamala Harris, Joe Biden, VCs, Harris, Kamala, Arnold Schwarzenegger, Mitt Romney, John Kasich's, OpenSecrets Organizations: Sequoia Capital, Google, PayPal, LinkedIn, Trump, Tesla, Sequoia ., Democratic, Trump Lincoln Project, Republican, Tech Locations: Sequoia, New York, Silicon Valley, California, Ohio

☆ 31-year-old Harvard grad just won a gold medal for the U.S. in the Olympics—in a sport she learned 6 years ago
▼ + stars: | 2024-08-05 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

Gold medalist Kristen Faulkner of Team United States poses on the podium during the Women's Road Race on day nine of the Olympic Games Paris 2024 at Trocadero on August 04, 2024 in Paris, France. Kristen Faulkner ended a 40-year-drought for the U.S. in the Paris Olympics — in a sport she picked up for fun six years ago. On Sunday, the 31-year-old became the first American rider to win gold in the women's road race since Connie Carpenter did so in the 1984 Los Angeles games. She didn't start competitive cycling until 2017 when she moved to New York to work as a venture capitalist. She told the Associated Press that her career as a venture capitalist has been instrumental in her success as a professional athlete.

Persons: Kristen Faulkner, Connie Carpenter, Faulkner, Faulkner wasn't, Taylor Knibb, she's Organizations: Team United, Olympic Games, Paris Olympics, Harvard University, NBC News, Team USA, Silicon Valley Bank, Wall Street, American Continental, Associated Press Locations: Trocadero, Paris, France, Angeles, Homer , Alaska, Kenai, New York, Silicon, North America, San Francisco

☆ Silicon Valley is 'really, really divided,' says venture capital firm
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilicon Valley is 'really, really divided,' says venture capital firmEdith Yeung, general partner at Race Capital, says venture capitalists will need to focus on the regulatory decisions and policies that support startups in the long term.

Persons: Edith Yeung Organizations: Race

☆ AI won't kill your computer science degree, professors say
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewGetting a computer science degree used to be a stable path for any college student looking to secure a tech job right after graduation. And if that wasn't enough, computer science majors don't just have to compete amongst themselves, they need to watch out for AI too. Computer science professors that BI spoke to said that earning a degree in the field is just as, if not more, valuable in the age of AI. Related storiesThis, Kan said, is because computer science isn't so much about coding as it is an approach to solving problems. AdvertisementDavid Malan, a computer science professor at Harvard, told BI that AI won't displace software engineers in the near term and would instead amplify their productivity.

Persons: —, Aditya Swami, Hatcher, Kan Min Yen, Kan, David Malan, Malan, Adrian Goh Organizations: Service, Big Tech, Business, National University of Singapore, Harvard, Engineers, Software Locations: Asia

☆ Sequoia's Michael Moritz says Trump's Silicon Valley supporters are making a 'big mistake'
▼ + stars: | 2024-08-05 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +4 min

Read previewWhile some Silicon Valley investors and startup leaders are going red hoping for a more "tech-friendly" White House, Michael Moritz, a storied Sequoia Capital investor, believes that does not reflect the Valley overall. "Fortunately, at least in Silicon Valley, Trump will not prevail," Moritz wrote in a Financial Times opinion piece, which was also posted on LinkedIn. Like the rest of the nation, Silicon Valley is deeply divided over whom to support in the upcoming presidential race. In his piece, Moritz chided Trump supporters in Silicon Valley. Moritz added that Trump had historically not performed well among Silicon Valley voters.

Persons: —, Michael Moritz, Trump, Moritz, Kamala Harris, Donald Trump, Doug Leone, Shaun Maguire, Roelof Botha, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Fund's Peter Thiel, David Sacks, Chamath, Vance, Sen, JD Vance, Palmer Luckey, Elon Musk, VCs, Kamala, Harris, Vinod Khosla, Reid Hoffman, Mark Cuban, Ron Conway Organizations: Service, Sequoia Capital, LinkedIn, Business, Google, PayPal, Democratic, Republican, Tech, Trump, VR, Bloomberg, PAC, Street Journal, Netflix, Harris, Politico Locations: Silicon Valley, Sequoia, Park City , Utah, Silicon, Palo Alto , California, Newport Beach , California, Washington ,, Francisco, San Jose

Underdog is an understatement for Kristen Faulkner, the American cyclist who didn't even qualify for the Olympics but is now going home with a gold medal after a shocking race through Paris on Sunday. She is the first American woman to win gold in the women’s road race since 1984. Kristen Faulkner of Team United States celebrates winning gold at the finish line during the Women's Road Race on day nine of the Olympic Games Paris 2024 on Aug. 4, 2024. Though spectators might be shocked that she walked away with a medal on Sunday, Faulkner knew she had it in her. “I want to win a medal at the Olympics,” she said.

Persons: Kristen Faulkner, Faulkner, Tim de Waele, Taylor Knibb, Faulkner didn't, It's, Olympics.com, “, ”, don’t Organizations: Team United States, Olympic Games, Getty, Team USA, Harvard University, NBC News, Tour de France Locations: Paris, New York City, Homer , Alaska, New York

And each finalist offers the newly minted Democratic Party leader a particular way to balance the ticket. Here’s how each could uniquely help the Democratic ticket — plus the potential drawbacks already getting attention. Andy BeshearNo current Democratic governor has won a redder state than Kentucky, where Beshear has won statewide three times. That appeal could help boost the Democratic ticket with working-class, independent and even some Republican voters in battleground states across the U.S. Tim WalzWalz has won Democratic plaudits for a string of progressive policy wins in his state.

Persons: Kamala Harris ’, Harris, we’ll, Andy Beshear, Pete Buttigieg, Sen, Mark Kelly of, JB Pritzker, Josh Shapiro, Tim Walz, Beshear, Jon Cherry, Kelly, wouldn’t, Trump, JD Vance, Shapiro, Shawn Fain, “, ”, “ He’s, Pete Buttigieg Buttigieg, Evan Vucci, Buttigieg, Biden, He’s, Donald Trump, Vance, he’s, Joe Biden, Mark Kelly of Arizona, Eric Thayer, Arizona —, Gabby Giffords, UAW’s Fain, Kelly isn’t labor’s, JB Pritzker Pritzker, Pritzker, It’s, Josh Shapiro Shapiro, Matthew Hatcher, Shapiro “, who’ve, Tim Walz Walz, Stephen Maturen, Walz, He’d, Harris ’, they’ve, George Floyd, Walz’s Organizations: Democratic Party, NBC News, Kentucky Gov, Mark Kelly of Arizona ,, Mark Kelly of Arizona , Illinois Gov, Minnesota Gov, Democratic, Getty, Concordia Unlike Shapiro, Democrat, U.S, United Auto Workers, CNN, ”, Fox News, Biden, The Washington, U.S . Navy, NASA, Republican, PRO, Illinois Gov, Chicago, Michigan . Pennsylvania, Trump, Pennsylvania Republicans, Capitol, National Guard Locations: Philadelphia, Mark Kelly of Arizona, Mark Kelly of Arizona , Illinois, Pennsylvania, Kentucky, Harris, Georgia, North Carolina, Ohio, Appalachia, South Bend , Indiana, Indiana, Michigan, Iowa, Arizona, Central, Mexico, U.S, Illinois, Wisconsin, AFP, Israel, Minnesota, Wisconsin , Michigan, Minneapolis

☆ Blue-collar entrepreneurs say it's getting harder to turn a profit as competition for 'sweaty startups' heats up
▼ + stars: | 2024-08-03 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +13 min

Sweaty startups are blue-collar businesses, often in unglamorous or laborious fields like septic services, car washes, or lawn care. It's what your grandparents would've just called a small business, but it was a tongue-in-cheek answer to the Silicon Valley-style entrepreneurship being glorified in culture at that time. Still, some small businesses look to private equity to scale their businesses in different markets, even if that means overhauling operations in some cases. "Small businesses partner with private-equity firms because they provide access to capital and organizational support to help companies grow," Drew Maloney, the council's president and CEO, told BI. Alejandro FlorezBoth of his parents were janitors, and when he was a senior in high school he started a small cleaning company that he grew by knocking on doors and cold-calling.

Persons: —, Patrick Hocker, Hocker, he'd, Nick Huber, would've, Huber, he's, Drew Maloney, Stan Chen, Chen, Alejandro Florez, Florez, Chris Salisbury, BuzzFeed — Salisbury, Salisbury Organizations: Service, Business, Bluebird Pest Solutions, Pest, Alpine Investors, American Investment Council, BlackRock, America Locations: Virginia, Pest, Boston, San Francisco, America, Bradenton , Florida, Jacksonville, Orlando, nuDoors, Brooklyn , New York

☆ How an Elon Musk-backed PAC is gathering data to boost Trump
▼ + stars: | 2024-08-02 | by ( Brian Schwartz | ) www.nbcnews.com time to read: +8 min

How do I start?”The ad then displays a website for a group called America PAC. “I have created a PAC, or a super PAC ... the America PAC,” Musk said in a recent interview. But what is unique about America PAC’s project is who is backing it and the timing of its creation. The America PAC raised over $8 million between April 1 and June 30, according to FEC records. He recently said on X that he is “making some donations to America PAC,” but did not say how much.

Persons: “, Donald Trump, Trump, they’ll, Elon Musk, Kamala Harris, ” Musk, Musk, ”, Brendan Fischer, Fischer, ” Fischer, Phil Cox, Generra Peck, Dave Rexrode, Doug Leone, Cameron, Tyler Winklevoss, Joe Lonsdale, Lonsdale, Harris, Daniel Weiner, Brennan, Matthew Baum, Baum, Weiner Organizations: Google, America PAC, Tesla, Republican, Democratic, Forbes, PAC, Facebook, YouTube, America, “ America PAC, Trump, The New York Times, FEC, Harvard Kennedy School Locations: Michigan, California, Wyoming, Pennsylvania, Georgia, Arizona , Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, America, Trump

☆ JD Vance holds Silicon Valley fundraiser as tech leaders rally around Kamala Harris
▼ + stars: | 2024-08-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Ohio Sen. JD Vance held a fundraising event in Palo Alto hosted by BitGo CEO Mike Belshe. Vance, a former VC, has the backing of influential tech execs, including Elon Musk. But many Silicon Valley figures are throwing their support behind Kamala Harris. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOhio Sen. JD Vance has been fundraising in Silicon Valley.

Persons: Ohio Sen, JD Vance, Mike Belshe, Vance, Elon Musk, Kamala Harris, —, Donald Trump's, Mike Belshe's Palo, Couples Organizations: Service, Ohio Locations: Ohio, Palo Alto, Silicon Valley, Vance

☆ How an Elon Musk PAC is using voter data to help Trump beat Harris in 2024 election
▼ + stars: | 2024-08-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

The ad then displays a website for a group called America PAC. "I have created a PAC, or a super PAC ... the America PAC," Musk said in a recent interview. But what is unique about America PAC's project is who is backing it and the timing of its creation. He recently said on X that he is "making some donations to America PAC," but did not say how much. Musk on X mirrors Musk PAC

Persons: Elon Musk, The Beverly Hilton, David Swanson, Donald Trump, Trump, they'll, Kamala Harris, Musk, Brendan Fischer, Fischer, Phil Cox, Generra Peck, Dave Rexrode, Doug Leone, Cameron, Tyler Winklevoss, Joe Lonsdale, Lonsdale Organizations: SpaceX, Tesla, The Beverly, Reuters, Google, America PAC, Republican, Democratic, Forbes, PAC, Facebook, YouTube, America, Trump, The New York Times, FEC Locations: Beverly Hills , California, U.S, Michigan, California, Wyoming, Pennsylvania, Georgia, Arizona , Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin

☆ An Olympian couldn’t pay her rent. Flavor Flav and Alexis Ohanian stepped in to help
▼ + stars: | 2024-08-02 | by ( Scottie Andrew | ) edition.cnn.com time to read: +5 min

“I compete in the Olympic Games TOMORROW and can’t even pay my rent,” she wrote on X, punctuating with an emoji wearing an incredulous expression. Enter Flavor Flav, the “hype man” of the US water polo teams, and Reddit founder Alexis Ohanian. The men, who’ve been cheering on Team USA at the Paris Olympics all week, banded together to not only pay Fraley’s rent for the month but cover her rent for the rest of 2024. Karwai Tang/WireImage/Getty ImagesFlav has been one of the most consistent and vocal supporters of women athletes at the Paris Olympics. Now, he sponsors both the US men’s and women’s water polo teams.

Persons: doesn’t, Veronica Fraley, “, ”, Flav, Alexis Ohanian, who’ve, “ I’m, ” Flav, “ haven’t, Vanderbilt doesn’t, —, Deepbluemedia, Ohanian, Fraley, Serena Williams, Olympia, Karwai Tang, aren’t, ” Ohanian, He’s, he’d Organizations: CNN, Team USA, USA, Paris Olympics, Vanderbilt University, Vanderbilt Commodores, CBS, Italy, Mondadori, Public, WORLD, NCAA, Olympic Games, US, Olympic, Angel City FC, Los Angeles, Olympics Locations: Paris, Los

☆ Google, Netflix, and OpenAI execs are hosting a fundraiser for Kamala Harris
▼ + stars: | 2024-08-02 | by ( Melia Russell | ) www.businessinsider.com time to read: +1 min

Executives from Google, Netflix, and OpenAI are throwing a fundraiser for Kamala Harris. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Then came a series of events that shows Kamala Harris still has friends in high-tech places. It started with LinkedIn cofounder Reid Hoffman declaring his support for Harris the same day that Biden ended his campaign.

Persons: Kamala Harris, —, Donald Trump, Reid Hoffman, Harris, Biden, Reed Hastings, Kamala Organizations: Google, Netflix, Service, LinkedIn, Business Locations: Washington ,, Silicon Valley

☆ Rapper Flavor Flav and Reddit co-founder Alexis Ohanian team up to help Olympian Veronica Fraley pay her rent
▼ + stars: | 2024-08-01 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Angelayang.Jpg | Angela Yang | ) www.nbcnews.com time to read: +3 min

"I compete in the Olympic Games TOMORROW and can’t even pay my rent," Fraley, is the 2024 NCAA discus champion, wrote on X. Ohanian, who is married to gold medal-winning tennis champion Serena Williams, also pledged to help Fraley on Thursday. Flav said through the representative that he is "happy to help out those who are representing the best of us. She thanked Flavor Flav directly and shared Ohanian's post, on X. "this makes every difference in the WORLD & I hope to represent team USA well this week," she wrote.

Persons: Veronica Fraley, haven’t, Flav, Reddit, Alexis Ohanian, Maggie Steffens, Ohanian, Serena Williams, Fraley, ” Organizations: Seven, Clemson University, Olympic, Vanderbilt Commodores, Vanderbilt, U.S . Olympic, WORLD, USA, “ Locations: Paris, Nashville , Tennessee

☆ Meet the Silicon Valley billionaires, founders, and investors backing Kamala Harris
▼ + stars: | 2024-08-01 | by ( Alice Tecotzky | Noah Sheidlower | ) www.businessinsider.com time to read: +1 min

More than 100 powerful venture capitalists organized to pledge support for Kamala Harris. The effort, named VCsForKamala, comes as other Silicon Valley leaders turn to Trump. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAs the once decidedly liberal Silicon Valley splinters this election, with figures like Elon Musk, Marc Andreessen, and David Sacks publicly backing former President Donald Trump, a group of powerful venture capitalists have combined forces to declare their support for Vice President Kamala Harris. On Wednesday, more than 100 leaders in Silicon Valley pledged to vote and solicit donations for Harris on a new website, VCsForKamala.org.

Persons: Kamala Harris, —, Elon Musk, Marc Andreessen, David Sacks, Donald Trump, Harris Organizations: Trump, Service, Business Locations: Silicon Valley

☆ Hedge funds are dusting off an old strategy to help reverse a fundraising slump, but it comes with a risk
▼ + stars: | 2024-08-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, hedge funds are dusting off an old strategy that's a unique twist on passive investing . And with the fundraising environment for hedge funds looking bleak , they'll take any help they can get. AdvertisementBut with portable alpha, hedge funds are tying themselves to something they've pledged they are better than. What happens if the hedge fund's portion of the portable alpha strategy is what pulls returns down? With competition from venture capital and private equity, hedge funds can't afford to turn their nose up at anything.

Persons: —, Tyler Le, Alex Morrell, It's, Jenny Chang, Rodriguez, Philippe, hasn't, they've, it's, duMond, Chip Somodevilla, Alyssa Powell, Harris, Jerome Powell, Powell, Tetiana Lazunova, Meta, it'll, Linda Yaccarino, Elon Musk, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Trump, DWS Group, BI, Nvidia, Twitter, Apple, Amazon, Barclays, Shell, Democratic National Committee Locations: Hollywood, London, Milan, Dubai, New York

☆ Opinion | The Far Right Doesn’t Own ‘The Lord of the Rings’
▼ + stars: | 2024-08-01 | by ( David French | ) www.nytimes.com time to read: +1 min

Tolkien and “The Lord of the Rings.”These days, however, Tolkien isn’t just relevant to nerd world. Critical factions of the new right at home and the far right in Europe have latched on to Tolkien’s work. By “new right” I mean the post-Reagan right, a movement that embraces state power as a means of fighting and winning the culture war. But they’re getting Tolkien wrong, and the way in which they are getting Tolkien wrong matters for all of us. Last month, Politico’s Adam Wren wrote an extended analysis of the way that the “Lord of the Rings” trilogy shaped JD Vance.

Persons: Tolkien, Reagan, they’re, Politico’s Adam Wren, Vance, “, ” Vance, Peter Thiel, Nancy Organizations: “ Star, Anduril Industries Locations: Europe

☆ Blake Masters, a close ally of JD Vance and Peter Thiel, just lost another election
▼ + stars: | 2024-08-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +1 min

Blake Masters lost to Abe Hamadeh in the GOP primary for Arizona's 8th congressional district. He was backed early on by Sen. JD Vance — and got a last-minute dual endorsement from Trump. It's the second election Masters has lost in two years. He was Arizona's GOP Senate nominee in 2022. The former venture capitalist, an ideological ally of Sen. JD Vance of Ohio and tech billionaire Peter Thiel, was defeated by Abe Hamadeh in a crowded GOP primary in Arizona's 8th congressional district.

Persons: Blake Masters, Abe Hamadeh, Sen, JD Vance —, Masters, —, JD Vance, Peter Thiel, Donald Trump, Vance, who'd Organizations: GOP, Trump, Service, Business Locations: Ohio, Arizona's

☆ With tech leaders like Elon Musk turning to Trump, more than 100 Silicon Valley investors pledge support for Harris
▼ + stars: | 2024-07-31 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

A group of right-wing venture capitalists have voiced support for Donald Trump and JD Vance, who was once a venture capitalist himself. "They don't speak for me," she said of Musk and other right-wing Silicon Valley leaders. "They don't speak for most of us. Harris, who was born in Oakland and is known as a pro-business politician, has a more sustained connection to Silicon Valley than Biden did. Next month, Harris will travel to Silicon Valley for a fund-raising trip in her continued effort reclaim the region amid its rightward tilt.

Persons: —, Kamala Harris —, Harris, Reid Hoffman, Mark Cuban, Ron Conway, Leslie Feinzaig, Graham, Walker, Donald Trump, JD Vance, Elon Musk, Marc Andreesen, Ben Horowitz, David Sacks, Trump, Feinzaig, MAGA, " Harris, Biden, Vance Organizations: Service, VCsForKamala.org, LinkedIn, Dallas Mavericks, Business, New York Times Locations: Oakland, Silicon, Silicon Valley

More than 100 venture capitalists said on Wednesday that they had pledged to vote for Vice President Kamala Harris in November and had solicited donations for her presidential campaign, in a rejoinder to the splintering among tech leaders over whom to support in the election. The group includes Reid Hoffman, a founder of LinkedIn; Vinod Khosla of Khosla Ventures; Mark Cuban, the former principal owner of the Dallas Mavericks; Ron Conway, a well-known angel investor; and the billionaire Chris Sacca. “We are pro-business, pro-American dream, pro-entrepreneurship and pro-technological progress,” the group said in a statement posted to their website, VCsForKamala.org. “We also believe in democracy as the backbone of our nation.” The website asks people to sign a pledge to support Ms. Harris and another to donate to her campaign. The effort was buttressed by another group of tech entrepreneurs and workers called Tech For Kamala, which also wrote a letter this week expressing “enthusiastic and unwavering support for Vice President Harris.” The letter gathered more than 550 signatures in two days.

Persons: Kamala Harris, Reid Hoffman, Vinod Khosla, Mark Cuban, Ron Conway, Chris Sacca, “, Harris, ” Organizations: LinkedIn, Khosla Ventures, Dallas Mavericks, Tech, Kamala

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