CNBC's Eamon Javers and Axios's Mike Allen discuss the potential nominees for the Democratic Party following President Biden's endorsement of VP Kamala Harris. Venture capitalist Vinod Khosla calls for an open convention and emphasizes the importance of values in this election. Other topics include Berkshire Hathaway's stock sale and Delta's IT outage.
Advocating for transparency, Vinod Khosla supports an open convention process in the Democratic Party.
Emphasizing values over personal gain, Khosla denounces support for candidates lacking moral integrity.
Deep dives
Open Convention Advocacy
Advocating for an open convention process in the Democratic Party, Vinod Khosla emphasizes the importance of a broader selection process. He believes that the lack of a formal democratic primary necessitates a more inclusive approach to allow various candidates, possibly including Senator Joe Manchin, to participate. Despite expressing confidence in Vice President Kamala Harris' potential to beat Trump, Khosla underscores the significance of a transparent and competitive selection process to strengthen the nominee's position.
Values vs. Opportunism
In a Twitter exchange with Elon Musk, Vinod Khosla rebuffs the idea of supporting a candidate, likely referring to former President Donald Trump, who he accuses of lacking values and engaging in reprehensible actions. Khosla criticizes the prioritization of personal gain over moral values by individuals in Silicon Valley who may support Trump due to business interests and deregulation. He underscores the importance of upholding values and denounces behaviors like inciting insurrection.
Financial Support and Political Alignment
Discussing the influence of political alignment in Silicon Valley, Vinod Khosla suggests that venture capitalists will continue investing based on technology progress rather than political preferences or regulations. While acknowledging the impact of regulations in areas like climate change, he anticipates that investment decisions will prioritize technological advancements regardless of tax rates or political affiliations.
Silicon Valley Dynamics
Regarding the potential impact of Silicon Valley figures like Vinod Khosla, Mark Andreessen, and Peter Thiel on startup culture and investments, Khosla does not foresee a significant shift based on political alignments. He reiterates that investment decisions in technology will remain focused on technological opportunities and progress, irrespective of political influences. Khosla emphasizes the importance of regulations in climate-related areas despite the varied political views within the tech industry.
After President Biden ended his re-election bid, he endorsed Vice President Kamala Harris. CNBC’s Eamon Javers reports on VP Harris’s spike in donations over the weekend, as well as the road toward the Democratic National Convention in August. While some Democrats have already endorsed VP Harris, former President Barack Obama and former Speaker Nancy Pelosi have not, which leaves the door open for other candidates vying for the nomination. Axios’s Mike Allen explains the other candidates who could come forward. Venture capitalist Vinod Khosla is an independent who hosted a Biden fundraiser in May; today, he’s calling for an open convention, but will support VP Harris if she wins the nomination. For Khosla, values are at stake this election, and more important than economic issues. Plus, Warren Buffett’s Berkshire Hathaway has sold $1.5B worth of Bank of America stock, and Delta is still recovering from the largest IT outage in history.