Exploring Donald Trump’s VP Pick JD Vance: Big Tech critic and crypto advocate

US Senator JD Vance has been selected as Donald Trump’s running mate for the 2024 Presidential election. The new VP candidate has a diverse background in venture capital and a vocal stance on both Big Tech regulation and cryptocurrency. His inclusion in the Trump campaign adds new dimension to potential policy changes for Big Tech companies in the US. 

JD Vance’s venture capital career spanned six years across three firms. He started with Mithril Capital, which was co-founded by billionaire investor and Former CEO of PayPal, Peter Thiel. Vance’s book “Hillbilly Elegy” gained widespread attention, leading to his connection with AOL co-founder Steve Case. Joining Case’s firm, Revolution, Vance focused on investing in Midwestern startups. His venture capital journey continued with the co-founding of Narya Ventures in Cincinnati alongside Colin Greenspon, backed by prominent investors in the tech world like Thiel, Marc Andreessen co-founder of Netscape Communications Corporation, a significant player in the early days of the internet, and Eric Schmidt, the former CEO of Google.

However, Vance’s tenure in venture capital wasn’t long enough to cement him as a major player.

Criticism of Big Tech
JD Vance’s relationship with Big Tech is complex. Despite his ties to Silicon Valley, Vance has been a vocal critic of large tech companies. He has called for breaking up Google and expressed concerns over tech giants’ control over information. Vance’s stance aligns with that of prominent antitrust advocates like FTC Chair Lina Khan, whom he praised for her efforts to dismantle what he calls a “Big Tech oligarchy.”

At a recent conference hosted by Y Combinator, Vance emphasised the need for a competitive marketplace that prioritises innovation and consumer choice over the pricing power of monopolies. 

Pro-Crypto Stance
Contrasting his stance on Big Tech, Vance is a proponent of cryptocurrency. According to a report by Business Insider, Vance holds substantial investments in Bitcoin, valued between $100,000 to $250,000. Vance has criticised the Securities and Exchange Commission (SEC) for its regulatory approach to crypto, advocating for a more relaxed stance that encourages innovation. He argues that blockchain technology is essential for challenging social media incumbents and enhancing features like identity verification.

JD Vance’s nomination as Trump’s running mate introduces a candidate with deep connections to both venture capital and Silicon Valley, coupled with a strong critique of Big Tech and a supportive stance on cryptocurrency. It is yet to be seen how his candidature will impact former US President Donald Trump’s campaign narrative.