Reid Hoffman, LinkedIn co-founder and Democratic megadonor, is bundling millions from Silicon Valley elites for Kamala Harris’s presidential bid, while pressing for the ousting of FTC Chair Lina Khan and the removal of U.S. tariffs on foreign imports—moves that could significantly reshape Harris's policy landscape.
Tech billionaire Reid Hoffman, who once visited Jeffrey Epstein’s private island, is rallying millions in campaign donations from Silicon Valley elites for Vice President Kamala Harris’s presidential bid. With these contributions, Hoffman and others are pushing for Harris to fire Federal Trade Commission (FTC) Chair Lina Khan and eliminate U.S. tariffs on foreign imports.
Hoffman, co-founder of LinkedIn and a prominent Democratic donor, is expected to bundle around $100 million from Silicon Valley's top figures for Harris's campaign.
In a CNN interview, Hoffman advocated for Harris to revert to the free trade policies that have dominated Washington, DC, for decades, despite their role in the decline of American manufacturing jobs. He also downplayed concerns over Biden and Harris’s push to raise corporate taxes, suggesting that stability and unity in the country are more critical for business than slight tax increases.
“Trump wants tariffs, which is anti-business… Vice President Harris is much more of the pro-business candidate than Trump and Vance,” Hoffman stated. He emphasized the importance of stability, unity, and the rule of law over minor tax differences.
Former President Donald Trump has proposed comprehensive tariffs on imports, particularly from China, to bring manufacturing jobs back to the U.S. Meanwhile, Hoffman criticized FTC Chair Lina Khan, accusing her of being anti-business and expressing hope that Harris would replace her if elected.
Hoffman has long opposed efforts to break up Big Tech and stringent antitrust enforcement, arguing that such measures hinder innovation. He told the Washington Post in 2021, “The notion of ‘Oh, we should be breaking up these companies’ is bad from an innovation standpoint…so that’s part of the reason why I [want to] shape and make it as good outcomes for society but not an antitrust action.”
The New York Times reported that Harris might already be yielding to donor pressure regarding Khan’s role at the FTC. While Harris has supported regulating artificial intelligence as vice president, she has reportedly been skeptical of Khan’s broad antitrust approach, according to a donor who spoke with her privately.
Khan has garnered praise from several conservatives, including Trump’s running mate Sen. JD Vance (R-OH), Rep. Matt Gaetz (R-FL), Rep. Ken Buck (R-CO), and Sen. Josh Hawley (R-MO), for her efforts to dismantle Big Tech monopolies and eliminate noncompete agreements for employees. In a recent Wall Street Journal profile, these supporters were dubbed “Khanservative Republicans.”
“I look at Lina Khan as one of the few people in the Biden administration that I think is doing a pretty good job,” Vance said. Gaetz also praised Khan’s actions against Big Tech during an August 2023 Newsmax interview, highlighting her commitment to robust competition and decentralization of power.
This week, a federal judge upheld the FTC’s ban on non-compete agreements, marking a significant judicial victory for Khan.
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