In a bold move, Union Square Ventures (USV) has formally endorsed Hillary Clinton for President of the United States. This marks the first time that the 13-year-old fund has taken a stance in a presidential election.
A Statement from USV
The firm’s brief statement addressed both the risks of a Trump presidency and the qualities that make Clinton an ideal candidate for the job. Collectively, USV acknowledged that technological change has had a profoundly positive impact on the world, but its benefits have not been evenly distributed among all people.
"We are not surprised that many feel the urge to reboot the whole system."
However, USV believes that progress can only be made by embracing diversity and working together on equal footing to address challenges. The firm cited Clinton’s "temperament and experience" as two of the key traits that will help her tackle a uniquely global problem.
The Risks of a Trump Presidency
USV highlighted the potential risks of a Trump presidency, including:
- Climate Change: No wall can protect us from the unintended consequences of climate change.
- Artificial Intelligence and DNA Manipulation: The firm emphasized that technological advancements like AI and DNA manipulation require careful management to avoid unforeseen consequences.
Support for Clinton
USV’s endorsement of Clinton is not only about rejecting Trump but also about embracing a more inclusive approach to governance. The firm cited Clinton’s ability to:
- Bring People Together: USV believes that Clinton has the temperament and experience to unite people from different backgrounds and ideologies.
- Address Global Challenges: The firm emphasized that Clinton’s global perspective is essential for addressing challenges like climate change, AI, and DNA manipulation.
A Call to Action
In addition to endorsing Clinton, USV also took the opportunity to promote several initiatives aimed at increasing voter turnout. These include:
- Take Off Election Day: A campaign aimed at making voting easier and more accessible.
- HelloVote: An initiative supported by Twilio that provides tools for voters to connect with their communities.
- VotePlz: A non-profit backed by Y Combinator’s Sam Altman, which aims to make voting easier and more enjoyable.
Fred Wilson’s Statement
In a tweet, Fred Wilson, a partner at USV, confirmed that the decision to endorse Clinton was unanimous.
"We had unanimous support in our firm for this endorsement."
The statement underscores the importance of USV’s endorsement, which is not only a personal opinion but also a collective decision made by the entire firm.
Other Investors Weigh In
USV is not the first fund to take a stance against Trump. Other prominent investors have also expressed their opposition to the Republican nominee. These include:
- CRV: The firm denounced Trump in a highly visible "Fuck Trump" campaign on its home page.
- Mark Suster of Upfront Ventures: Suster has been vocal about his opposition to Trump and has even encouraged fellow investors who had previously endorsed him to reconsider their stance.
Peter Thiel’s Support for Trump
In contrast, Peter Thiel remains one of the highest-profile investors to have endorsed Trump. The Founders Fund partner and serial entrepreneur publicly backed Trump at the RNC in July.
The Tech Industry’s Divide
While individual investors have come out against Trump, many firms have tried to remain non-partisan to avoid alienating founders and limited partners. However, with USV’s endorsement of Clinton, it remains to be seen how other firms will respond.
As the election approaches, we can expect more surprises from both sides. With just a month left before Election Day, the tech industry’s divide will continue to be felt.
Conclusion
Union Square Ventures’ endorsement of Hillary Clinton marks an important moment in the 2016 presidential election. The firm’s statement highlights the importance of embracing diversity and working together to address global challenges. As the election approaches, it remains to be seen how other firms will respond to USV’s bold move.
In a world where technology is increasingly shaping our lives, the leadership we choose can have far-reaching consequences. By endorsing Clinton, USV has demonstrated its commitment to creating a more inclusive and sustainable future for all.
As investors, entrepreneurs, and citizens, it is essential that we engage with the issues of this election and demand greater accountability from those in power. The future of our world depends on it.
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