8VC Founder and Managing Partner Joe Lonsdale is supporting former President Trump in the upcoming 2024 election, laying out his reasoning in an article for The Economist in June.

In an interview with Josh Lipton on Market Domination Overtime, the Palantir (PLTR) co-founder says he is "more focused... on policies and rule of law than I am on the personalities" of the candidates and that he is "tired of this incompetence in government."

Lonsdale finds Trump to be more bold in his interactions with geopolitical leaders, whereas the Biden administration is "more focused on virtue signaling... buying votes with student debt relief than actually doing things that are rational and logical for the economy."

Trump has campaigned on raising tariffs on imports into the US, a topic another Trump ally and rumored Secretary Treasury candidate Scott Bessent spoke to Yahoo Finance about.

"There are probably certain areas where we've had free trade, where it's great for us on Wall Street and not as great for certain communities that are competing against the rest of the world," Lonsdale says on Trump's proposed tariff policies. "I understand where he's coming from. It's not crazy. And it is potentially the right thing to do sometimes to protect some of these communities."

Lonsdale then weighs in on potential picks for Trump's vice president, Silicon Valley's sentiment toward Biden, and what he envisions for the VC space if Biden does secure a second-term victory.

"Generally the value of our investments, the value of like being able to disrupt things in the economy aggressively with AI and create wealth, that that's all going to work better with more free market policy, with less law from the regulators, with less of the administrative state randomly harassing people... The sad thing is as a venture investor, if Biden wins, we'll probably spend a lot more time and money hiring people to go to DC to argue our cases for things..."

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This post was written by Luke Carberry Mogan.