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Venture capital firm Andreessen Horowitz (a16z) aims to advance pro-crypto and artificial intelligence (AI) regulation through a seemingly novel approach: financially supporting politicians.
“If a candidate advocates for a hopeful technology-driven future, we are in favor of them. If they seek to stifle crucial technologies, we oppose them,” stated Ben Horowitz, one of the firm’s co-founders, in a post dated Dec. 14, adding:
“Every dollar we contribute will be directed towards supporting like-minded candidates and opposing those who wish to hinder America’s technological advancement.”
Horowitz noted that this would mark the “first time” a16z engages in lobbying efforts to back tech-friendly politicians. However, it previously organized a fundraiser for a New York representative in October 2022, as reported by Forbes.
Horowitz specifically emphasized blockchain technologies and AI as two innovations that could lead to a better future.
Decentralized technologies “will foster a fairer, more inclusive economy” compared to what centralized Big Tech companies have accomplished, Horowitz remarked, while AI “has the capacity to elevate all of humanity” to an unprecedented standard of living.
Avalanche, Coinbase, Dapper Labs, Lido Finance, Nansen, OpenSea, Uniswap, and Worldcoin are among the cryptocurrency startups in which a16z has invested.
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Horowitz clarified that he is not entirely opposed to regulation: “High-quality regulation can facilitate an industry’s growth while safeguarding consumers,” but repeatedly, we have witnessed “politicized regulation” destroy industries, he noted.
“America’s brightest days lie ahead if we maintain our global technology leadership. The primary threat to that is misguided regulatory policy.”
Horowitz pointed out that Big Tech companies have been well represented in Washington, D.C., but are more focused on “maintaining their monopolies” than promoting equitable regulation.
Related: Paris Hilton, a16z support IP ownership network Story Protocol
The tech-oriented investment firm published its own “techno-optimist manifesto” in October, which faced criticism from various quarters for presenting several implausible views.
One of a16z’s assertions was that “any slowdown of AI [due to regulation] will result in loss of life.”
Finance columnist Jemima Kelly of the Financial Times was among those who disagreed, contending that “unrestrained technological ‘accelerationism’ is a poor approach.”
Over 2,600 tech leaders and researchers, including Tesla CEO Elon Musk and Apple co-founder Steve Wozniak, signed a petition in March 2023 to “pause” AI advancements, expressing concerns that AI presents “significant risks to society and humanity.”
Magazine: JPMorgan anticipates higher BTC price potential, a16z launches $4.5 billion crypto fund, and PayPal hints at increased crypto engagement: Hodler’s Digest, May 22-28
