Venture Capitalists Back Kamala Harris Over Donald Trump

Over 100 investors, including Mark Cuban and LinkedIn founder Reid Hoffman, have endorsed U.S. Democratic presidential candidate Kamala Harris. They issued a public letter on Wednesday, supporting Harris as a counter to tech billionaires backing Republican rival Donald Trump.

The group emphasized their commitment to business and innovation. "We spend our days looking for, investing in, and supporting people who are building the future. We are pro-business, pro-American dream, pro-entrepreneurship, and pro-innovation," they stated in the letter.

They also stressed the importance of democracy and trustworthy institutions. "We believe in democracy as the backbone of our nation. We believe that strong, trustworthy institutions are a feature, not a bug, and that our industry - and every other industry - would collapse without them."

Prominent signers include investor Chris Sacca, Katie Stanton of Moxxie, Eva Ho of Fika Ventures, and Rebecca Kaden of Union Square Ventures. They have pledged to vote for Harris in the upcoming November 5 election.

This endorsement comes in response to Trump gaining support from other wealthy, high-profile Silicon Valley investors. Elon Musk, Tesla CEO, publicly endorsed Trump after the July 13 attempt on the former president's life. David Sacks, former PayPal COO and a close friend of Musk, has also hosted fundraisers for Trump.

The endorsements highlight a split in Silicon Valley's political landscape, with influential figures backing different candidates based on their visions for the future of business and innovation.