Andreessen Horowitz to Advance Pro-Crypto and AI Regulation by Funding Tech-Friendly Politicians
Summary:
Venture capital firm Andreessen Horowitz (a16z) plans to promote pro-crypto and AI regulation by financially backing tech-supportive politicians. Co-founder Ben Horowitz claims that every contribution will favor those supporting technological advancement and confront candidates hampering the US' high-tech future. Blockchain-based technologies and AI are perceived as transformative, capable of improving the economy and standard of living. A16z also clarified its stance on regulation, supporting quality regulations that foster growth and protect consumers, while condemning politically motivated ones that can harm industries. The firm's 'techno-optimist manifesto,' which suggested that slowing down AI technology could cost lives, was met with criticism from various quarters.
Andreessen Horowitz (a16z), a venture capital firm, is strategizing to boost pro-crypto and AI regulation by generously funding politicians. The firm supports candidates who champion a technologically enabled future, and opposes those hindering technological advancements, according to co-founder Ben Horowitz in a Dec. 14 statement. He emphasized every contribution would favor pro-tech candidates and confront those jeopardizing the country's high-tech progression. For the first time, a16z resorts to lobbying to promote tech-supportive legislators, despite having reportedly organized a fundraiser for a New York congressman back in October 2022, Forbes noted.
Ben Horowitz underscored the transformative power of blockchain-based technologies and artificial intelligence. He believes decentralized technologies can foster a fairer, more inclusive economy compared to existing centralized Big Tech firms, while AI has the capacity to elevate humanity to unprecedented living standards. Cryptocurrency startups, including Avalanche, Coinbase, Dapper Labs, Lido Finance, Nansen, OpenSea, Uniswap and Worldcoin are featured in a16z's investment portfolio.
The co-founder clarified his stance on regulation, noting that sensible regulation can ensure industry growth and consumer protection, whereas politically driven regulation could destroy industries. He warned that America's prosperous future lies in maintaining its position as a global tech leader, which could be threatened by ill-judged regulatory policies. While Big Tech companies have had representation in Washington D.C, Horowitz pointed out their tendency to focus more on preserving monopolies than advocating for equitable regulation.
The firm published its "techno-optimist manifesto" in October, which attracted widespread criticism for its seemingly outrageous views, including a claim that regulatory slow-down of AI could literally cost lives. Critics like Jemima Kelly of the Financial Times contested this viewpoint, branding unchecked technological 'accelerationism' as harmful. Over 2,600 tech leaders and researchers, including Tesla CEO Elon Musk and Apple co-founder Steve Wozniak, called for a pause in AI development in March 2023 amid worries about potential severe societal impacts.
Published At
12/15/2023 4:29:00 AM
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