From The San Francisco Standard · · 1m 10s
Silicon Valley's Election Night Struggle
Ripple cofounder Chris Larsen bet big on Democrats and mostly won.
In brief
Ripple cofounder Chris Larsen bet big on Democrats and mostly won. Ripple cofounder Chris Larsen donated over $22 million to Democrats, winning key races while Silicon Valley billionaires typically supported Republicans. Originally reported by The San Francisco Standard.
Election Night Struggle
Silicon Valley had a terrible election night with tech billionaires mostly supporting Republicans.
Chris Larsen's Political Playbook
Ripple cofounder Chris Larsen poured more than $22 million into national politics this cycle.
Democratic Focus
Larsen boosted moderate, business-friendly candidates in deep-blue districts across California.
National Donations
Larsen gave $4 million to Democrat Sherrod Brown’s Senate campaign in Ohio and $1.75 million to James Talarico’s Senate bid in Texas.
Local Impact
Larsen gave $1.5 million to Mayor Lurie’s agenda and $500,000 to Theo Ellington’s successful supervisor bid.
Billionaire Tax Efforts
Larsen donated $5 million to fight the billionaire tax through his group Golden State Promise.
Grow California Success
Grow California won at least nine of eleven districts in California state legislature races.
Controversy and Challenges
Larsen faced backlash from labor groups and anti-tech activists over his political spending.
The essence
Ripple cofounder Chris Larsen donated over $22 million to Democrats, winning key races while Silicon Valley billionaires typically supported Republicans.
