Kamala Harris has a golden opportunity to pull Silicon Valley away from Trump and Vance

• Vice President Kamala Harris looks set to secure the Democratic presidential nomination.
• Her campaign has gained momentum with high-profile endorsements and donations from tech leaders.

Vice President Kamala Harris is shaking up the 2024 election.

Harris looks set to secure the Democratic presidential nomination amid a burst of popularity following President Joe Biden's withdrawal from the race. The US President endorsed his current vice president, and many prominent Democrats, including Barack Obama, have followed his lead.

Money has been pouring into Harris's campaign, and the vice president has already begun campaigning against former president Donald Trump.

While several Silicon Valley veterans, including former Meta exec Sheryl Sandberg, have voiced their support for Harris, others have spent the last few months throwing considerable weight behind Trump and his running mate JD Vance.

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David Sacks, an old PayPal colleague of Peter Thiel, donated $1 million to a pro-Vance Super PAC, while Thiel gave $15 million to his campaign, Politico reported.

Tesla CEO Elon Musk has also been enthusiastic about Vance, reportedly participating in a secret lobbying campaign for the former VC. The billionaire officially endorsed Trump for President after an assassination attempt against him in July.

With Vance by his side, Trump has been trying to woo Silicon Valley away from Biden.

But with Harris at the helm, it's a whole new race.

"Momentum has certainly shifted in the tech industry, and many —including myself — are now optimistic that Harris can take the reins and drive the Democratic party into the future," Aaron Levie, CEO of Box cloud company, told Business Insider.

A California candidate

In Harris, techies have a candidate from their home turf.

Born in Oakland, Harris has served as a California senator and as the state's attorney general.

She has roots and high-profile friends in the Bay Area. She reportedly attended the 2013 wedding of former Facebook president and investor Sean Parker, and her brother-in-law, Tony West, is Uber's chief legal officer.

Many in the Valley view Harris as a much-needed breath of fresh air.

"I have known Kamala for decades, and she's been a fighter, a leader, and an advocate for the tech ecosystem," Silicon Valley "super angel" investor Ron Conway said in an X post calling on the tech community rally around Harris.

Chiente Hsu, cofounder and CEO of bitcoin platform ALEX, told BI that Harris is "generally viewed more favorably among tech leaders" than Biden.

She cited Harris' closer ties to the tech community and favorable stance toward innovation for the renewed enthusiasm.

Harris has also shown a willingness to take on Big Tech when needed. During her time as attorney general, she tackled issues such as the distribution of explicit content on social media platforms, with a particular focus on "revenge porn."

During the Biden Administration, Harris played an active role in AI regulation. She's previously stated she rejects the "false choice that suggests we can either protect the public, or advance innovation."

"Her work on tech-related legal issues and proactive stance on innovation further bolster her reputation," Hsu said. "Harris has been vocal about the need for ethical AI development and robust oversight of Big Tech, reflecting a nuanced approach to tech regulation."

A lucrative opportunity

Several business elites have already expressed their support for Harris. Some, like Netflix's cofounder Reed Hastings, have been putting their money where their mouth is with hefty donations.

If Harris does win over tech executives, it could mean significant financial contributions and strategic support.

Levie said Harris represented a "unique opportunity" for the Democratic Party to position itself as pro-tech, pro-AI, and pro-science.

"Biden stepping down and the party aligning around Harris has reenergized the community, and many who were previously neutral are now excited about the direction Harris can drive," he said.

Harris's stance on some tech issues is still a bit uncertain. Notably, the vice president hasn't taken a strong stance on cryptocurrency, but some expect her to become more pro-crypto than Biden.

The Biden administration has been increasing its scrutiny of the sector following the collapse of FTX in 2022.

Meanwhile, with support from pro-crypto running mate JD Vance, Trump has announced he plans to be the first "crypto president."

Nigel Green, CEO of financial services company deVere Group, previously told BI that Harris's views "reflect a cautious approach" to the sector. However, he said he expected Harris to become more pro-crypto to compete effectively with Donald Trump.

"This regulatory clarity could bring greater legitimacy to the industry, potentially attracting more institutional investors and mainstream adoption," he added.