How the "PayPal Mafia" Threw Silicon Valley Into a Trump Trance

Inside the Hive

It used to be that Silicon Valley was considered a blue bastion, and supported social causes like education, public health and climate action. But, if that perception wasn’t already crumbling before now, then it was utterly shattered in 2024. This past month has seen countless tech elites flock behind Donald Trump as their candidate of choice in the presidential election, leaving many in the media scratching their heads—and wringing their hands. But not for Roger McNamee, the veteran venture capital investor, who, on the latest episode of Inside the Hive, breaks down all the financial incentives at play and unpacks why tech leaders are “abandoning” the values they seemingly once held. “Their belief in cryptocurrency and their belief that low taxes and lack of regulation are essential to the prosperity of the tech industry,” he says. “These guys historically had an omerta. They did not speak ill of each other. And basically over the past six weeks or so, the political disagreements have come out into the open.”