Tag: Silicon

Pompeo warns Silicon Valley execs not to work with Chinese military

American technology firms should get rich from doing business in China but must do their part to counter the national security dangers posed by a Communist nation, Secretary of State Mike Pompeo said in a speech Monday. Speaking in the heart of Silicon Valley, Mr. Pompeo said the amazing advances produced in the region are a direct result of American freedom and democracy. “In this system, our idea of capitalism and free markets has produced the greatest wealth and prosperity that the world has ever seen, and technology has played a huge role in that,” he said. “It is very ... Read more

Pompeo warns Silicon Valley on China ahead of trade pact

US Secretary of State Mike Pompeo on Monday warned Silicon Valley not to bolster China’s “Orwellian” state, two days before the world’s two largest economies sign a partial trade deal. Speaking to a tech-heavy crowd in San Francisco, Pompeo trumpeted the “phase one” deal to tame a two-year trade war but told businesses that they needed to do more. “We need to make sure American technology doesn’t power a truly Orwellian surveillance state. We need to make sure American principles aren’t sacrificed for prosperity,” Pompeo said at the Commonwealth Club. He said he was not discouraging firms from heading to ... Read more

Silicon Valley’s Big Apple Gambit

Last month, Representative Alexandria Ocasio-Cortez (D-NY) took a well-deserved victory lap after Amazon announced it would be opening new corporate offices in New York City, months after it pulled out of opening a second headquarters in the area. Local leaders criticized the $3 billion in subsidies (at least) Amazon stood to gain for locating the headquarters, known as HQ2, in Long Island City, Queens, near AOC’s district. The new offices, while bringing fewer jobs to New York (about 1,500 compared with an estimated 25,000 in HQ2), will not cost the city anything in economic-development subsidies. Amazon begged off any of ... Read more

The Silicon Valley Job Squeeze and the Boeing Chats

TOP OF MIND “This company provides thousands of good jobs in my district!” It’s a statement many politicians have made over the years, and it’s the back end of a type of bribe. The politician knows that those jobs can go away if he or she doesn’t perform meritorious service on behalf of the corporation. That’s the implied threat, and it usually works to turn members of Congress into full-on lobbyists. Big Tech is taking a run at this. The House Judiciary Committee has been investigating Amazon, Apple, Facebook, and Google for the last 7 months. The chair of the ... Read more

J.D. Vance launches venture capital fund outside of Silicon Valley – Axios

Investor J.D. Vance has raised $93 million to start a venture capital firm, Narya Capital, based in his home state of Ohio, with fund backing from major names including Peter Thiel, Marc Andreessen, Eric Schmidt and Scott Dorsey. Why it matters: Vance’s 2017 bestselling memoir, “Hillbilly Elegy,” gave voice to rural, working-class resentment in left-behind America that helped Trump win the White House, and he has been a strong proponent of investing in often-overlooked places. His firm, headquartered in Cincinnati, will invest in startups in under-served cities such as Salt Lake City, Atlanta and Raleigh-Durham, according to a source familiar ... Read more

Mind the Gap, Silicon Valley’s secretive donor group, plans to spend up to $140 million to beat Trump

Mind the Gap, the secretive group quietly reshaping big-money politics in Silicon Valley, is aiming to spend as much as $140 million to boost Democrats in the 2020 election, Recode has learned. If realized, a haul of that size would cement the group, little known until Recode reported on it this week, as one of the most powerful forces in Democratic politics. And the group is accomplishing this all behind the scenes — without any prior public scrutiny. This network of Silicon Valley donors raised $20 million for Democratic causes and congressional candidates in advance of the midterms. But the ... Read more

Inside Mind the Gap, the secretive Silicon Valley group that has funneled over $20 million to Democrats

A secretive group led by Stanford University academics has unleashed millions of dollars in political spending from Silicon Valley and is now convincing some of its biggest donors to spend millions more to back Democrats in 2020. Mind the Gap, a network formed less than two years ago, has been quietly routing millions of dollars to Democratic candidates and groups across the country in the 2018 and 2020 election cycles, emerging as a new power center in the Silicon Valley political scene. It’s just that so far, it has avoided public detection. The group’s success is due in large part ... Read more