Sacks made his case for supporting Trump. Top of the list: the economy. The U.S. is outperforming its peers, but he attributes sticky inflation, weak growth, and rising debt to President Biden (even though Trump also added trillions to the national debt).
However, Biden enjoys strong support in Silicon Valley. The president has garnered significant contributions from tech industry leaders in this election cycle. Recently, he participated in a fund-raising event organized by Vinod Khosla, a venture capital investor, and Marissa Mayer, the former Yahoo C.E.O. Some of his key business allies are from Silicon Valley.
Hoffman explained why no C.E.O. should vote for Trump. He argues in The Economist that business leaders are mistaken in thinking that Trump would be a “normal and controlled” leader in the White House. Hoffman believes that supporting a criminal like Trump would be a grave mistake.
For American business, the rule of law is vital. It provides the foundation for commerce to thrive. Without a stable, predictable, rules-based environment, cities like New York, and America as a whole, wouldn’t have become centers of innovation, investment, and progress.
Many American business leaders have recently overlooked the importance of the rule of law in determining which political leaders will truly support their long-term success. A robust legal system is a necessity that should not be taken for granted, as trading it away can have dire consequences.
Trump shows no signs of slowing down. The Republican is scheduled to attend fundraisers in Southern California, including one hosted by Palmer Luckey, the Oculus co-founder who now heads Anduril Industries, a defense tech company.
HERE’S WHAT’S HAPPENING
GameStop’s shares surge as Keith Gill prepares to return to YouTube. The retailer’s stock rose more than 30 percent in premarket trading on Friday following an announcement on his YouTube channel about his upcoming livestream. This increase in share price is part of the volatile trend sparked by Gill, also known as “Roaring Kitty.”
