Sacks gave his case for backing Trump. Top of the list: the economy. The U.S. is performing far better than its peers, but he blames President Biden for sticky inflation, weak growth and rising debt (though Trump too added trillions to the national debt).
But Biden has huge support in Silicon Valley. The president has raised millions from tech industry leaders this election cycle. Last month, he attended a fund-raising event hosted by Vinod Khosla, the venture capital investor, and Marissa Mayer, the former Yahoo C.E.O., and Silicon Valley includes some of his biggest business allies.
Hoffman broke down why no C.E.O. should vote for Trump. Business leaders are mistaken to think that Trump would be “normal and controlled” back in the White House, he writes in The Economist. They shouldn’t empower a criminal, he adds.
For American business, the rule of law is essential. It is the soil in which commerce can take root and grow. Without this stable, predictable, rules-based environment, New York, and America, would not have become the hubs of innovation, investment, profit and progress that they are.
Unfortunately, many American business leaders have recently developed a kind of myopia, miscalculating what politics, and which political leaders, will truly support their long-term success. Perhaps this stems from their having lived their entire lives in a stable legal regime that they now take for granted. But a robust, reliable legal system is not a given. It is a necessity we can ill afford to live without. We trade it away at our peril.
That’s unlikely to slow Trump. The Republican will attend a pair of fund-raisers in Southern California on Friday and Saturday, including one hosted by Palmer Luckey, the Oculus co-founder who now runs Anduril Industries, a defense tech company.
HERE’S WHAT’S HAPPENING
Shares in GameStop surge, ahead of Keith Gill’s expected YouTube return. The retailer’s stock jumped more than 30 percent in premarket trading on Friday, after a note appeared on his YouTube channel on Thursday saying he had scheduled his first livestream in years. The leap in share price extended a volatile run triggered by Gill, the meme-stock ringleader who goes by “Roaring Kitty.”