a16z, nhà tài trợ lớn nhất đứng sau cuộc bầu cử giữa nhiệm kỳ của Hoa Kỳ
- Quan điểm cốt lõi: a16z (Andreessen Horowitz) đã trở thành nhà tài trợ lớn nhất trong cuộc bầu cử giữa nhiệm kỳ lần này của Hoa Kỳ, với tổng số tiền quyên góp chính trị vượt quá 115 triệu đô la Mỹ, vượt xa các tỷ phú khác, đánh dấu việc các quỹ đầu tư mạo hiểm ở Thung lũng Silicon đang tham gia chính trị một cách có hệ thống với mức độ chưa từng có nhằm thúc đẩy các chính sách có lợi cho lợi ích kinh doanh của họ.
- Các yếu tố then chốt:
- a16z và các nhà sáng lập đã quyên góp 115,5 triệu đô la Mỹ trong đợt này, chủ yếu chảy vào các PAC siêu lớn của ngành tiền mã hóa (47,5 triệu đô la Mỹ) và các PAC ủng hộ AI (50 triệu đô la Mỹ), đồng thời tài trợ cho các ủy ban trực thuộc Trump và Đảng Cộng hòa.
- Chiến lược của a16z là tham gia chính trị lâu dài, chứ không phải đầu cơ một lần. Họ ngay lập tức đầu tư thêm sau bầu cử và tham gia vào các cơ quan chính phủ như Hội đồng Cố vấn Khoa học và Công nghệ của Nhà Trắng.
- Chủ thể quyên góp chuyển từ cá nhân sang tổ chức. Khoản chi tiêu chính trị khổng lồ của a16z đã gây ra tranh cãi, những người chỉ trích cho rằng điều này sẽ chi phối quá trình bầu cử và phục vụ lợi ích kinh doanh riêng.
- Lập trường chính trị của a16z chuyển từ ủng hộ Đảng Dân chủ sang phe cánh hữu, tập trung vào "vấn đề đơn lẻ" hỗ trợ sự phát triển của các công ty khởi nghiệp. Sự thay đổi lập trường này bắt nguồn từ xung đột chính sách công nghệ với truyền thông và chính phủ.
- Hành động này đã gây ra phản ứng dữ dội từ trong và ngoài ngành. Nội bộ có các đối tác từ chức vì bất đồng, bên ngoài đã thúc đẩy sự ra đời của các PAC đối lập nhằm cân bằng ảnh hưởng của nó (ví dụ: "z16a").
Original Author: Theodore Schleifer, The New York Times
Original Translation: Luffy, Forsight News
The biggest donor in the current U.S. midterm election cycle is neither Elon Musk, George Soros, nor any other billionaire with the deepest pockets in the political arena.
The true top spender is a venture capital firm: Andreessen Horowitz (a16z).
Top donors for the current midterm election cycle. Data source: U.S. Federal Election Commission, The New York Times
An analysis by The New York Times shows that this Silicon Valley venture capital firm, along with its co-founders Marc Andreessen and Ben Horowitz, has contributed over $115 million in political donations for midterm election-related activities, making them the largest known donors in this election cycle.
a16z's foray into politics is not new; the two founders are seasoned political donors worth tens of billions. However, the scale of donations this cycle far exceeds the approximately $63 million contributed during the 2024 election cycle. The top-tier investment firm is ramping up its political spending at an unprecedented rate, attempting to influence policy direction to align with its own business interests.
After the last general election, a16z established a long-term political stance. Conventionally, the day after a major election—two years before the next significant vote—is not the time for large donations. But on November 6, 2024, a16z injected over $23 million into two core super PACs in the crypto industry, sending a clear signal: its political strategy is a long-term commitment, not a fleeting trend.
In response to media interview requests, a16z declined to comment and did not arrange interviews with the two founders.
A few days later, during an election review podcast, Andreessen stated directly, "My conclusion is that we must treat political involvement as a permanent mission." "Sometimes the situation flows in our favor, and sometimes we have to fight hard for it. But whether the tide is for or against us, we need to be deeply involved every step of the way."
The surge in political donations from venture capital firms also reflects a significant shift in the U.S. political ecosystem. In this midterm election, the main source of top-tier donations has shifted from individual billionaires to corporate entities like a16z. Critics argue that the massive influx of institutional money could co-opt the electoral process, solely to serve their own business interests.
Since the 2024 election, a16z has poured $47.5 million into Fairshake, a network of crypto industry super PACs. Its strategy has also expanded beyond the crypto track: following the Fairshake model, it spearheaded the creation of Leading the Future, a super PAC focused on supporting pro-AI members of Congress, and injected $50 million. Both Fairshake and Leading the Future adopt a bipartisan strategy, funding candidates from both the Republican and Democratic parties.
Additionally, a16z and its two founders collectively donated $12 million to Trump's super PAC, MAGA Inc., including a single $6 million contribution in March. In the same month, a trust associated with Andreessen also donated nearly $900,000 to the Republican National Committee.
This series of political investments has also helped Marc Andreessen build close ties with the Trump administration.
The chart showing the surge in public political donations from Andreessen and Horowitz this cycle indicates: a16z and its founders' political contributions skyrocketed from $2 million in 2022 to $115.5 million in 2026; funds primarily flowed towards AI issues, the Republican Party, and the crypto industry.
Source: U.S. Federal Election Commission, The New York Times
Before Trump began his second term last year, Andreessen revealed that he spent half his time at Mar-a-Lago, helping the Trump team with the transition of power. The venture capital mogul also acted as an informal advisor to the Department of Government Efficiency, led by Musk. Two former a16z partners have joined the administration as senior officials, with one overseeing AI-related regulation.
In March of this year, the 54-year-old Andreessen was appointed to the White House's top tech advisory council; more recently, he was invited to a state dinner hosted for King Charles III in the U.S. and to a private club dinner hosted by Trump at the White House Rose Garden.
Regulatory filings show that the large donations from Andreessen and Horowitz mostly originate from a16z, which is wholly owned by them. The $115.5 million for this election cycle does not include the tens of millions the firm recently invested in the American Innovators Network, an emerging non-profit AI advocacy organization that is not required to disclose the details of its donations.
Founded in 2009, a16z is one of the most prestigious investment firms in Silicon Valley. Borrowing models from Hollywood talent agencies, it incubates startups, hires aggressively, and excels at self-promotion. Early bets on crypto exchange Coinbase and social media platform Instagram cemented its industry fame.
The political journeys of both founders are quite storied. In the 1990s, Andreessen gained early fame and wealth with the pioneering browser Mosaic, becoming a core member of former Vice President Al Gore's tech advisory team and a major fundraiser for the Democratic Party.
Years later, his political stance gradually shifted rightward. He has stated that after Trump's 2016 victory, he deliberately stepped back from political fundraising to embark on a political "self-reflection journey," re-evaluating various extreme ideological currents.
According to people familiar with his private social circle, Andreessen is now active in various exclusive groups, frequently discussing current events with conservative activists.
Horowitz, now 59, is the son of prominent conservative provocateur David Horowitz. However, sources say Horowitz himself makes fewer public political statements and is relatively less involved in the firm's super PAC activities. a16z publicly endorsed Trump in the summer of 2024, but in October of the same year, Horowitz, citing personal friendship, provided financial support to Democratic presidential candidate Kamala Harris.
Andreessen and Horowitz describe themselves as "single-issue voters": their votes and donations are solely based on what benefits the growth of technology startups. Sources say their repeated clashes with the media and the Biden administration over tech policy ultimately solidified their resolve for deep political engagement.
Andreessen once recounted a story to friends. About ten years ago, at the headquarters of Condé Nast, parent company of The New Yorker, he had a disagreement with editor-in-chief David Remnick. Remnick's team accused tech elites of being disconnected from the masses. After touring their opulent offices and bathrooms, Andreessen felt it was the media elites who were truly out of touch with reality.
Before the 2024 election, Chris Lehane, a seasoned Silicon Valley political operative and Coinbase board member, spearheaded the creation of Fairshake. Andreessen and Horowitz believed the Biden administration was too harsh on the crypto industry, where a16z had significant investments. Coupled with SBF, the crypto world's political figurehead, being convicted of fraud, the industry needed a new political pathway.
Thus, a16z, along with crypto giants Coinbase and Ripple, became core funders of Fairshake, donating $47 million to the organization in the 2024 election cycle. Although most pro-crypto policies in Washington now originate from Trump (Fairshake did not endorse him), the political strategy is still seen within the industry as a successful experiment.
In the spring of 2025, Lehane, who had joined OpenAI, again took the lead, partnering with a16z, other tech donors, and political operatives. The goal was to replicate the crypto industry's political fundraising model for the AI sector, expanding the strategy early and increasing investment.
a16z, which has invested heavily in numerous AI projects, fully committed, donating $25 million to the AI super PAC Leading the Future in August 2025, and another $25 million in February 2026. Sources say the firm has not yet decided whether to make additional contributions.
Compared to the hundreds of billions of dollars a16z manages, the $115.5 million in political spending is not exorbitant. However, other top Silicon Valley VCs, like Sequoia Capital and Founders Fund, have not adopted similar large-scale political strategies.
According to The New York Times, since the 2024 general election, the next largest public federal donors after a16z are Soros-linked entities (approximately $103 million) and Elon Musk ($85 million).
This deep involvement in politics has also drawn various controversies and backlash for a16z.
Internally, John O'Farrell, an early partner at the firm, resigned as a part-time advisor last May due to political differences. He publicly criticized the two super PACs, Fairshake and Leading the Future, and what he called "tech figures, including some former VC peers and partners, who are actively pandering to the current administration." He declined further comment.
Externally, a16z faces strong criticism from progressive groups. Last year, several Democratic lawmakers publicly criticized Senator Ruben Gallego (D-AZ) for co-hosting a fundraiser with Andreessen.
a16z's support for the AI super PAC Leading the Future has also sparked industry countermeasures. A rival super PAC, Public First, advocating for AI safety, was established precisely to counter the political spending influence of a16z and its allies. Insiders jokingly refer to the organization as "z16a," deliberately reversing a16z's informal abbreviation.
New York State Democratic Assemblymember Alex Bores, running for Congress, is backed by Public First. He stated he has no fear of attacks from Leading the Future: "The venture capital logic is about pursuing rapid scale, but that logic shouldn't be used to buy democratic politics."
Some Republicans are also unimpressed with a16z's political bets. They privately dislike the bipartisan neutrality strategy of Fairshake and Leading the Future, arguing that AI and crypto industry policies are inherently more favorable to Republicans, and therefore the relevant super PACs should fully align with the GOP.
Andreessen and Horowitz have told allies they have limited decision-making power within the two super PACs and rarely interact directly with their management.
a16z's political strategy and Washington lobbying efforts are coordinated by Collin McCune, a former congressional aide and Republican. He tracks the activities of both super PACs and keeps Andreessen updated on the latest policies and political landscape.
This does not mean Andreessen is unfamiliar with political rules. In 2000, at just 29 years old, he asserted: "If you think the scale of political donations today is large, you haven't seen the real size yet."
