The Republican vice-presidential nominee, J.D. Vance, has been under the spotlight for his connections with the tech industry. Nobel Prize-winning economist, Paul Krugman, recently highlighted this aspect of Vance’s background.
What Happened: Krugman took to X to remind his followers of Vance’s primary support base. He pointed out that Vance was heavily backed by the tech community, the same group that had previously shown a strong interest in Robert F. Kennedy Jr.
“As the hits keep coming on JD Vance, worth remembering that he was, above all, the candidate of tech bros — the same people who, a year ago, were infatuated with RFK Jr,” Krugman wrote.
The post included a link to a New York Times article discussing how a network of tech billionaires played a crucial role in J.D. Vance’s rise to political power, highlighting the influence of Silicon Valley’s elite in his ascent.
Despite spending a relatively short time in the tech industry, Vance’s connections, particularly with figures like Peter Thiel, co-founder of PayPal, Palantir Technologies proved instrumental in his political ascent.
These ties were further solidified during a fundraising event for former President Donald Trump in San Francisco, where tech, Bitcoin (CRYPTO: BTC), and cryptocurrency executives and investors, including Thiel, endorsed Vance as Trump’s running mate.
Why It Matters: The scrutiny on Vance’s venture capital background has intensified following his selection as Trump’s running mate in the 2024 presidential election. Vance’s short stint in Silicon Valley and his relationships with influential tech investors like Thiel have been under the microscope.
Vance’s venture capital career is being questioned, with some critics suggesting that his primary focus was on his book, “Hillbilly Elegy,” rather than his venture capital duties.
Moreover, Krugman has been vocal about the economic policies of the Trump administration. He criticized Trump’s tariff policies, arguing that they would harm the majority of Americans while benefiting only the top 1%. This context adds another layer to Krugman’s recent comments on Vance.
Read Next:
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
