To: Lizzie Tudor who wrote (1962 ) 8/24/1998 2:29:00 PM From: Zoltan! Read Replies (3) | Respond to of 13994
>>My point was that high-tech business leadership left the Republican party in the early 90s in favor of the Democrats primarily due to the belief that the Republican leaders were unable to comprehend global economic issues. Even after the economic recovery, Clinton still had major support from the business community vs. Dole. Wrong on all points! I knew this and know so can you: Fortune Magazine Issue: September 7, 1998 Yeah, Silicon Valley Is Full of Geniuses They Have a Lot to Learn About Politics Jeffrey H. Birnbaum For years there have been only a handful of cities where politicians could pan for gold and hope to fill their saddlebags: New York, Washington, Los Angeles, and maybe Dallas and Miami. Now there's a new stop for pols on the troll: Silicon Valley. But here's the surprising truth: Silicon Valley has more cachet than cash. The digital geniuses are political neophytes who don't give as generously--or even think about government with the same sophistication--as folks from more established fundraising venues. Silicon Valley may be at the heart of economic growth, but it's still on the periphery of politics. Says venture capitalist John Doerr: "We are incredibly naive about all of this." It used to be that when someone said "Washington," Palo Altoans thought "Redmond." Their minds began shifting east in 1996, when the Valley's wealthy business owners provided millions to defeat California's Proposition 211, a ballot initiative that would have made shareholder lawsuits easier to file in California. After their victory, the mildly libertarian executives began to adopt more conventional labels--like Republican and Democrat--and to get more involved in politics. They institutionalized their efforts last year by creating the Technology Network, a group of 140 executives who convene briefings and fundraisers for candidates of both parties. Addressing a TechNet breakfast has become a rite of passage for politicians with national aspirations. The common wisdom is that Silicon Valley is Democratic. In fact, it is still largely unaligned, and a battle rages over which party will dominate. At the center of the struggle--at least at the presidential level--are two partners of the venture capital firm Kleiner Perkins Caufield & Byers. Doerr leans democratic; Floyd Kvamme is the Republican. In 1996, Doerr captured headlines by trotting out 50 executives for Clinton-Gore. Kvamme worked feverishly to locate 245 execs for Dole-Kemp. But because Dole never bothered to travel there to accept the plaudits, the perception of a Democratic Valley lingers. A related misconception is that Gore will get most of the Valley's money, and that the amount will be gargantuan. The real story is that there are plenty of prominent executives who lean Republican, such as Jim Barksdale of Netscape and John Chambers of Cisco Systems. Gore's high-profile effort to consult with technology entrepreneurs (who call themselves Gore Techs) is designed to obscure the fact that most CEOs distrust him because of his environmental views. Indeed, Gore's top fundraisers privately admit that the amount that can be raised from the Valley is relatively small. Remember, for the presidential race there's a $1,000-per-person limit. Kvamme estimates that only half the Valley's business leaders even care about politics; Doerr says it's less. That puts both men in the role of teacher to an unruly class. Even the influential TechNet has a ways to go. "TechNet is actively bipartisan, which is a good thing," says Bob Grady, an investment banker and former Washington (D.C.) hand. "But it is developing a reputation for being willing to host a fundraiser for basically anybody. They have to develop more discipline." They also need to be a bit less starry-eyed. One button seen at recent TechNet gatherings reads gore-doerr in 2004. Get real: It will never happen. pathfinder.com btw, it has been the Dem party that has tried to amend the law so their biggest special interest group $$$-wise, the trial lawyers*, could more easily sue high tech firms. And the Dems are the luddites that have opposed Nafta and expansion of global trade, not the Reps. * aside from the totalitarian Chinese.