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Throw cash at tech-forward politicians

Enterprise capital agency Andreessen Horowitz (a16z) is hoping to push pro-crypto and AI regulation ahead with seemingl new technique: Throwing cash at politicians.

“If a candidate helps an optimistic technology-enabled future, we’re for them. In the event that they need to choke off necessary applied sciences, we’re in opposition to them,” wrote Ben Horowitz, one of many agency’s founders, in a Dec. 14 submit, including:

“Each penny we donate will go to help like-minded candidates and oppose candidates who purpose to kill America’s superior technological future.”

Horowitz mentioned it might be the “first time” a16z pursues the lobbying route to advertise tech-friendly politicians. Nonetheless, it reportedly held a fundraiser for a New York congressman in October 2022, according to Forbes.

Horowitz, particularly, highlighted blockchain-based applied sciences and synthetic intelligence as two applied sciences that may make for a greater world.

Decentralized technologies “will create a fairer, extra inclusive financial system” than what the centralized Massive Tech companies have achieved, Horowitz famous, whereas AI “has the potential to uplift all of humanity” to a way of life by no means skilled earlier than.

Avalanche, Coinbase, Dapper Labs, Lido Finance, Nansen, OpenSea, Uniswap and Worldcoin are a few of the cryptocurrency startups that a16z has invested in.

Horowitz pressured that he isn’t utterly in opposition to regulation: “Prime quality regulation can allow an trade to thrive whereas defending customers,” however time and time once more, we’ve seen “politicized regulation” kill industries, he mentioned.

“America’s finest days are forward if we retain our international know-how management. The first factor that may undermine that’s misguided regulatory coverage.”

Horowitz mentioned “massive tech” companies have been properly represented in Washington D.C. however are extra involved with “preserving their monopolies” than advocating for fair regulation.

Associated: Paris Hilton, a16z back IP ownership network Story Protocol

The tech-focused funding agency wrote its personal “techno-optimist manifesto” in October, which drew criticism from throughout the board for sharing a number of far-fetched opinions.

One in every of a16z’s opinions was that “any deceleration of AI [by way of regulation] will value lives.”

Finance columnist Jemima Kelly of the Monetary Instances was one in every of many who disagreed, arguing that “unrestrained technological ‘accelerationism’ is a foul concept.”

Greater than 2,600 tech leaders and researchers, reminiscent of Tesla CEO Elon Musk and Apple co-founder Steve Wozniak signed a petition to “pause” AI developments in March 2023, sharing considerations that AI can pose “profound dangers to society and humanity.”

Journal: JPMorgan sees higher BTC price potential, a16z unveils $4.5 billion crypto fund and PayPal hints at more crypto involvement: Hodler’s Digest, May 22-28