It was a pointed critique of the Democratic Party’s perceived drift away from innovation and entrepreneurship, as Altman explicitly called for a renewed focus on what he called “techno-capitalism”—a philosophy that champions both wealth creation and broad-based prosperity through innovation.
Altman’s critique echoes a growing sentiment among tech leaders that the Democratic Party has become hostile to the very forces—innovation, entrepreneurship, and wealth creation—that once defined Silicon Valley’s ethos.
The jury is out on the true nature of this split, as Silicon Valley has long had a libertarian bent while Democrats of left-wing and center-lift varieties have long favored strong regulation, but the Trump years have created new coalitions. Prominent tech and venture capital executives have increasingly aligned with the Republican Party while expressing the sentiment that they don’t feel at home anymore with the Democrats.
The shift is driven by several factors:
Altman’s declaration of political homelessness and Andreessen’s rightward shift both signal a profound change in the political landscape of Silicon Valley — and then there’s Elon Musk’s deep involvement with Republican politics. A major backer of Donald Trump’s reelection in 2024, then a prominent member of the first few months of Trump’s second term, and finally an exile from the White House, Musk recently launched the “America Party,” a new political party that he said will provide voters with an alternative to the Democratic and Republican parties.
For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.
