Sachs explained his reasons for supporting Trump. Topping the list is the economy: The U.S. is doing much better than other countries, but he blames President Biden for stagnant inflation, slowing growth and rising debt (though Trump also added trillions of dollars to the national debt).
But Biden enjoys huge support in Silicon Valley. The president has raised millions of dollars from tech leaders during this campaign — he attended a fundraiser last month hosted by venture capital investor Vinod Khosla and former Yahoo CEO Marissa Mayer — and has also been in Silicon Valley with some of his biggest business allies.
Hoffman detailed why CEOs shouldn't vote for Trump. Business leaders are wrong to think that Trump will be “normal and in control” once he returns to the White House, he wrote in The Economist. They should not empower criminals, he added.
The rule of law is essential to American business — it's the soil in which commerce can take root and grow. Without this stable, predictable, rules-based environment, New York — and America — would not be the epicenter of innovation, investment, profit, and progress that it is today.
Unfortunately, many American business leaders these days have developed a kind of myopia and miscalculated which politics, and which political leaders, will really support their long-term success. Perhaps this is because they have lived their whole lives in a stable legal system and now take it for granted. But a robust, reliable legal system cannot be taken for granted. It is a commodity we cannot live without. We give it away at our peril.
That is unlikely to slow Trump's momentum. The Republican is scheduled to appear at two fundraisers in Southern California on Friday and Saturday, including one hosted by Oculus co-founder Palmer Luckey, who now runs defense technology company Anduril Industries.
What's going on?
GameStop shares surge ahead of Keith Gill's return to YouTube. The retailer's shares soared more than 30% in premarket trading on Friday after Gill posted on his YouTube channel Thursday that he was planning his first livestream in years.The share price surge extended a volatile rally driven by Gill, the meme-stock leader nicknamed “Roaring Kitty.”
