Trump Campaign Raises $12M in California
The Facts
Former US Pres. Donald Trump, the presumptive Republican presidential nominee for this year's election, reportedly raised $12M at a San Francisco event hosted by two tech venture capitalists on Thursday.
Venture capitalists David Sacks and Chamath Palihapitiya hosted the reception and dinner at Sacks's Pacific Heights mansion, where top tickets cost $500K per couple. Several crypto investors and executives from crypto exchanges were among the sold-out crowd.
The Spin
Pro-Trump narrative
It's impossible for tech entrepreneurs and executives to support Biden, and others should consider the ramifications if Trump doesn't defeat the incumbent president. Biden's administration wants to overtax those who've achieved the most in the US, and his agencies want to impose oppressive regulations on industry. There's no one else worth backing but Trump.
Anti-Trump narrative
It's no surprise that today's tech moguls — most of whom are white, male, and rich — would get behind the candidate who not only looks and thinks most like them, but will do what he can to fight against the diversity efforts they oppose and Democrats embrace. What's good for Silicon Valley, however, isn't always good for the US as a whole.
