Technology: Harris vs Trump

A recent Wall Street Journal article, Clash of the Tech Titans: Silicon Valley Fractures Over Harris vs. Trump, highlights the polarizing politics of Harris vs. Trump among technology and investment leaders. There appears to be no clear consensus on the policy issues driving the divisions, but the players appear to have picked sides.

Elon Musk	Trump
Vinod Khosla	Harris
Aaron Levie	Harris
David Sacks	Trump
Reid Hoffman	Harris
Ben Horowitz	Trump
Michael Moritz	Harris
Peter Theil	Trump
Waseem Daher	Harris
Gary Tan	Harris
Jacob Helberg	Trump

But is the debate really about tech policies affecting AI, Section 230, anti-trust, or cyber security? Or is it about wealth and taxes?

Both candidates have a fairly benign track record of actual policy impacts, mostly originating from administrative efforts that had bipartisan support. Under Trump, CISA (Cybersecurity and Infrastructure Security Agency) was founded, and the tech industry was largely excluded from new regulatory actions. Under Biden, funding for technology hubs was included in the Chips and Science Act and Inflation Reduction Act and federal cyber security standards were established for government contractors.

It is predicted that Harris would be less likely than Biden to push for greater anti-trust scrutiny of technology companies. When she served as district attorney and senator with Silicon Valley in her back yard, she was considered a supporter of the technology industry.

So why are technology leaders keen on expressing their political views without a clear threat or champion in the race? Tax policy may emerge as the true driver not only due to its direct impact on the wealth of tech investors but the chilling effect it may have on overall private investment. The expiration of the 2017 Tax Cuts and Jobs Act is almost a certainty under a Harris administration.