Tech investor trashes San Francisco at the RNC

MILWAUKEE, Wisconsin — It's not a Republican party gathering without a designated California-basher. On night one of the GOP convention in Milwaukee, it was venture capitalist David Sacks taking center stage to roast his home state.

"In my hometown of San Francisco, Democrat rule has turned the streets of our beautiful city into a cesspool of open encampments and open drug use," he said.

Sacks' appearance at the RNC underpins a powerful narrative in the Trump world: one where wealthy actors in California's liberal bastions are so frustrated by Democrats in government that they're willing to break away from the pack and back a rebellion.

The tech investor is stepping into a role cast years ago by his longtime colleague Peter Thiel, another Silicon Valley defector, whose 2016 RNC speech marked a defining moment for the Trump campaign. Thiel's support later extended to Republicans including J.D. Vance, Trump's vice presidential pick. Thiel was Vance’s biggest donor in the Ohio Senate race, funneling $10 million toward his 2022 campaign.

Vance — who had a stint in San Francisco, working as a venture capitalist — has spent a good deal of time in Silicon Valley encouraging tech leaders to back Trump. He was also at a San Francisco fundraiser last month for Trump hosted by Sacks and fellow political tech disruptor Chamath Palihapitiya.

Vance and Sacks are emblematic of Silicon venture capitalists and CEOs who feel increasingly emboldened to embrace Trump. Monday night, shortly before Trump took the stage, news broke that Musk would contribute $45 million a month to a pro-Trump PAC also backed by tech titans like the Winklevoss twins.

Despite his notoriety among SF elite, Sacks’ remarks on Monday night were met with a tepid response, at best. Many attendees talked over his speech, and several of his applause lines fell largely flat. Instead of discussing technology policy, his area of expertise, the Elon Musk confidant spent much of his brief speech attacking President Joe Biden for his support of Ukraine — an issue that deeply divides Republicans.

Sacks’ rhetoric has made him a de facto convener for Trump-aligned techies in the Bay Area. Harmeet Dhillon, a California member of the RNC who was basking in the VP news on the convention floor Monday afternoon, told Playbook that just a few weeks ago she had told Vance he was her preferred veep. Their meeting spot? The Trump fundraiser held at Sacks’ home.

“I was just talking to my San Francisco GOP chair, and he told me his phone is ringing off the hook from ‘crypto bros,’” Dhillon said. “They want to be in on the action here. They realize it's an existential threat to their worldview and pocketbooks and wallets if Joe Biden and his ilk stay in power.”

Make no mistake — Silicon Valley remains a lucrative place for Democratic fundraising. But some Republicans argue that the Biden administration has disillusioned parts of Silicon Valley with what they view as a hostile approach to business.

“If you look at the second-tier appointments inside the administration, it’s littered with people who are favored by Bernie Sanders, Elizabeth Warren — and these are people who fundamentally are just not pro business,” said Bill Whalen, a distinguished policy fellow at Stanford University's Hoover Institution.

Sacks has, like Musk, adeptly used social media and podcasts to express pro-Trump views and reach a like-minded audience. Sacks co-hosts the “All In” podcast alongside fellow Silicon Valley players Palihapitiya, Jason Calacanis and David Friedberg, where the four discuss tech and political topics du jour.

Many of Sacks’ priorities align more closely with your typical business-minded Republican on taxes and regulation, especially when it comes to burgeoning new technologies like cryptocurrency and artificial intelligence.

But the venture capitalist has long been critical of U.S. support for Ukraine and often slams America’s “Forever Wars,” referencing the years of conflict in the Middle East following September 11.

Trump is "a president who understands that you build the most powerful military in the world to keep America safe," Sacks said. "Not to play the world's policeman."

Brendan Bordelon contributed to this report.

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