According to the article, the decision to back him was due to the 2025 tax plan to tax unrealized gains, which I hadn't heard of, but I'm not surprised that he wouldn't be a fan of that, given that his entire business is built on investing in companies, and that these investments on the part of founders and investors are unrealized. It does seem like it would de-incentivize much of the startup and venture capital economy.
I'm not smart enough to understand finance and so forth. So can't comment on that 2025 tax plan.
I do know that "Bidenomics", aka the torrent of federal money (CHIPS Act, Inflation Reduction Act, EPAs new "Green Bank", Dept of Defense's retooling, etc), has been a huge boon for startups.
I would have thought a group of savvy entrepreneurs like a18z would join the renewable energy and domestic manufacturing bonanza.
But like I said, I don't understand finance. So I'm sure a17z have their reasons to sit this one out.
I wouldn't be surprised if they would have been on board for most of the Biden era economic policies. I think it may have just been the possible industry repercussions from the coming 2025 tax plan that made A&H anxious, given that it could disincentivize the venture capital growth market.
Not a great analogy. Its more like if your endodontist hired a secretary who leaves the medical records unlocked, do you really trust them to be up to date with modern dental sensibilities when the rest of their office is ran so carelessly?
