Throw money at politicians in the technological future
Venture capital firm Andreessen Horowitz (a16z) hopes to push pro-crypto and AI regulation forward with a seemingly new strategy: throwing money at politicians.
“If a candidate supports tech-enabled optimism, we're for them. If they want to stifle important technologies, we're against them,” Ben Horowitz, one of the company's co-founders, wrote in a Dec. 14 post:
Every penny we donate goes to support like-minded candidates and oppose candidates intent on killing America's high-tech future.
Horowitz said it would be a “first time” that a16z would take a lobbying route to promote tech-friendly politicians. However, he reportedly held a fundraiser for a New York congressman in October 2022, Forbes reports.
Horowitz noted that blockchain-based technologies and artificial intelligence are two technologies that could lead to a better world.
Decentralized technologies will create a more equitable and inclusive economy than the one achieved by centralized Big Tech companies, Horowitz said, adding that AI “has the potential to elevate all of humanity” to unprecedented levels of living.
Avalanche, Coinbase, Dapper Labs, Lido Finance, Nansen, OpenSea, Uniswap and Worldcoin are some of the cryptocurrency startups a16z has invested in.
A few things we are excited about in crypto (2024):
→ Entering a new era of decentralization → Reinventing the UX of the future → Increasing the modular technology stack → AI + blockchains coming together → Playing to earn becomes a game and earn → When AI becomes a game maker… pic.twitter.com/fiL4Eahwuy
— a16z crypto (@a16zcrypto) December 6, 2023
Horowitz stressed that he's not entirely opposed to regulation: “High-quality regulation allows an industry to thrive while protecting consumers,” but that we've seen “politicized regulation” kill industries over and over again, he said.
America's best days lie ahead if we maintain our global technology leadership. A major factor that can undermine a misguided regulatory policy.
Horowitz said the “big tech” firms are well-represented in Washington, D.C., but are more concerned with “protecting their monopoly” than advocating for fair regulation.
Related: Paris Hilton, a16z back IP proprietary network history protocol
The technology-focused investment firm wrote its own “Techno-Optimist Manifesto” in October, drawing criticism from its board for sharing far-fetched views.
One of a16z's comments was “AI slow down [by way of regulation] It costs lives.
Jemima Kelly, finance columnist for the Financial Times, is one of many to argue that “unlimited technological ‘acceleration' is a bad idea”.
Like Tesla CEO Elon Musk and Apple founder Steve Wozniak, more than 2,600 tech leaders and researchers have signed a petition to “pause” AI developments by March 2023, sharing concerns that AI “poses a grave threat to society and humanity.”
Magazine: JPMorgan Sees Higher BTC Price Potential, a16z Hints at $4.5 Billion Crypto Fund and PayPal's Further Involvement: Hodler's Digest, May 22-28
