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I think that this is actually separate classes of people. This article is using "silicon valley" to talk about a small (but very influential) group of very wealthy investor types, and "new york tech scene" to mostly talk about NYC founders and not investors. Plenty of finance guys in NYC are very upset about Mamdani's primary win.

I'm a silicon valley founder but definitely not investor and I'm quite optimistic about Mamdani's approach to measuring where problems are and then pitch complicated fixes in a way that can be understood by average voters. The "socialism" label doesn't bother me. I know a lot of people in silicon valley rank and file engineers and technical founders who think similarly privately.



It's the elite billionaires that are afraid because they want to keep their place at the top with minimum effort.

Their assets continue to generate generational wealth and once that concept is taken away, they lost the only leverage for power: wealth.




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