The Blue Wave hits Sand Hill Road
Source: Business Insider ·
Elon Musk, venture capital, MAGA politics, and AI data centers collide as Democrats win big in the Midterm elections.
From the source
Tesla, SpaceX and X CEO Elon MuskFinn Gomez/Getty ImagesSilicon Valley spent big on the midterms. Then the blue wave hit this week."Voters rejected the status quo, and VCs should take that seriously," investor Reid Hoffman told BI.A version of this story originally appeared in Business Insider's weekly VC Insider newsletter. Sign up for the newsletter here.Ben here. VCs are paid to predict the future and bet on the right people, so the wager by some VCs to go all in on MAGA now looks like a bad bet after Tuesday's overwhelming Democratic victory.On X, owned, of course, by GOP megadonor Elon Musk, there were lots of quips about returning to an era of DEI, pronouns, and land acknowledgments.On Wednesday morning, some of the loudest VC voices on the right, such as a16z's Marc Andreessen and Craft's David Sacks, who also served as the White House's AI and crypto czar, were remarkably quiet.Those on the left have been much more talkative, eager to point out that they never joined the MAGA…