Politics
Before going MAGA, Vance made big money in San Francisco's tech world
The new Republican vice presidential nominee hangs his proverbial hat on hailing from Middletown, Ohio — a steel mill town in the heart of working-class America.
But for a few years, J.D. Vance joined the world of coastal elites, building a robust venture capitalist career and hobnobbing with some of the wealthiest tech leaders in the Bay Area.
Miles away from his Appalachian upbringing and long before he became former President Trump’s running mate, he was quietly building a Silicon Valley venture capital career and a life in San Francisco.
In an essay for the Atlantic in 2016, he contrasted that reality with conditions in his hometown:
“A few Saturdays ago, my wife and I spent the morning volunteering at a community garden in our San Francisco neighborhood. After a few hours of casual labor, we and the other volunteers dispersed to our respective destinations: tasty brunches, day trips to wine country, art-gallery tours. It was a perfectly normal day, by San Francisco standards.
“That very same Saturday, in the small Ohio town where I grew up, four people overdosed on heroin. A local police lieutenant coolly summarized the banality of it all: ‘It’s not all that unusual for a 24-hour period here.’ He was right: in Middletown, Ohio, that too is a perfectly normal day.”
The man who would later write the bestselling “Hillbilly Elegy: A Memoir of a Family and Culture in Crisis” — and become a darling of the MAGA right — was in his late 20s when he moved to San Francisco likely around 2013, coinciding with a major boom for Big Tech companies such as Facebook, Google and Twitter. Venture capital firms were also “rolling in money,” said Peter Leyden, founder of Reinvent Futures and host of the AI Age Begins discussion series.
Vance “was here in the absolute boom time of an incredible ride,” Leyden said. “Everybody was gaga about tech.”
The Silicon Valley tech community Vance entered was fairly liberal — perhaps less so than royal blue San Francisco nearby, but moderate left at least. Still, several tech leaders told the Times, the industry has also harbored a cohort of conservatives. And some of the more vocal members of this minority emerged during the Trump years, including Elon Musk, David Sacks and Peter Thiel — all of whom are now in Vance’s corner.
Vance worked for “the subgroup that was more the libertarian, right-wing crew,” Leyden said. “Now that group has morphed since that decade into an increasingly kind of Trumpian, more radicalized right.”
Observing the boom and bust of tech informed Vance’s view of market forces, as he recounted at a policy and tech conference in February. At one of his first jobs at Mithril Capital, for example, he observed how seemingly rapidly growing businesses were doomed to bust, simply because the incumbent businesses in the field were already so big.
“Something I didn’t realize at the time … is that the thing that was wrong with their business wasn’t their business. It’s that they existed in a fundamentally non-competitive market,” he said at the conference, adding later, “We want innovation and we want competition, and I think that it’s impossible to have one without the other.”
He came to believe that antitrust policy can be a useful tool for allowing new companies to enter a market. In the same speech, Vance lauded Lina Khan, chair of the Federal Trade Commission, who has led antitrust investigations against major tech companies, such as Amazon, Google, Microsoft and OpenAI.
The problem with having big companies like Google monopolizing information, Vance said, is that they can be biased — and that can be bad for democracy.
“The American people, I think, should have the right to decide,” Vance said. “And if the new mode of acquiring information is fundamentally biased, I think it’s a far bigger threat to democracy than almost anything that’s called a threat to democracy in 2024.”
While it’s impossible to detail the impact Vance’s San Francisco days made on his political worldview, they certainly affected his wallet. One of Vance’s strongest Bay Area supporters was also one of his first bosses: Thiel of PayPal and Facebook fame, as well as a Republican megadonor.
Siri Srinivas, a partner at a venture capitalist firm, noted Vance’s connections.
“He isn’t just another guy who was a VC and then wrote a book and became a senator,” Srinivas said. “He also worked very closely with someone who has worked to collect political power: Peter Thiel.”
Thiel owned Mithril Captial, where Vance began as a principal. In 2017, Vance moved back to Ohio to co-found Revolution, a venture capital firm focused on investing in Midwestern startups, according to Axios.
By 2020, Axios reported, Vance had raised $93 million, with backing from Thiel, to start Narya, another Ohio-based venture with a portfolio that includes Rumble.com, a social media and video platform popular with the far right. It hosts Trump’s Truth Social.
As Vance’s tech career was taking off, so too were his political ambitions. And though he labeled himself a “never Trumper” in 2016, the Ohio Republican was coming around to more Trumpian postures — much like his sponsor in Silicon Valley. Thiel, who had served on the board of Meta, Facebook’s parent company, was become increasingly attuned to boosting Republican candidates, most notably donating to Trump.
Thiel donated $15 million to Vance’s Senate campaign in 2022, which was also bolstered by Trump’s endorsement. Vance sailed to victory, serving as Ohio’s senator for less than two years before being tapped for as a vice presidential candidate.
His Silicon Valley connections have already come in handy in his political career. Several news outlets reported that Vance was key in helping Sacks organize a fundraiser in June that raised $12 million for the Trump campaign.
“As I look out at this convention, I see a party that is strong and unified behind President Donald J. Trump and his pick for Vice President, Sen. J.D. Vance,” Sacks said at the Republican National Convention on Monday night. “And what about the Democrats? … We know what their agenda will be: four more years of chaos and failure, both at home and abroad.”
“In my hometown of San Francisco,” Sacks continued, “Democrat rule has turned the streets of our beautiful city into a cesspool of crime, homeless encampments and open drug use.”
What remains to be seen is how much Vance’s tech background will influence administration policy. Scott Wiener, a Democratic state senator from San Francisco, noted the new GOP platform explicitly supports the development of artificial intelligence and promises to “end Democrats’ unlawful and unAmerican Crypto crackdown.”
“I assume that was a very cynical play to try to get financial support from certain venture capitalists and tech people,” Wiener said.
But Srinivas, the venture capitalist, said Vance’s background in tech is at odds with his current politics.
“Most VCs are pro-science and having a technologist at the highest levels of government would be a huge win for Silicon Valley,” Srinivas said. “But, I’m not sure Vance is typical in that regard — he supported a ban on abortions in his last campaign, so I’m not sure he’s the best champion for science or technology.”
When asked at the February conference about how a future Republican administration would affect tech companies, Vance responded prophetically:
“As you know, personnel is policy, and a lot of what will determine Trump administration antitrust policy is who ultimately takes the reins the senior roles in the Trump administration, because they’re going to be the ones who are executing all this stuff.”
Politics
Video: Trump Says ‘Only Time Will Tell’ How Long U.S. Controls Venezuela
new video loaded: Trump Says ‘Only Time Will Tell’ How Long U.S. Controls Venezuela
transcript
transcript
Trump Says ‘Only Time Will Tell’ How Long U.S. Controls Venezuela
President Trump did not say exactly how long the the United states would control Venezuela, but said that it could last years.
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“How Long do you think you’ll be running Venezuela?” “Only time will tell. Like three months. six months, a year, longer?” “I would say much longer than that.” “Much longer, and, and —” “We have to rebuild. You have to rebuild the country, and we will rebuild it in a very profitable way. We’re going to be using oil, and we’re going to be taking oil. We’re getting oil prices down, and we’re going to be giving money to Venezuela, which they desperately need. I would love to go, yeah. I think at some point, it will be safe.” “What would trigger a decision to send ground troops into Venezuela?” “I wouldn’t want to tell you that because I can’t, I can’t give up information like that to a reporter. As good as you may be, I just can’t talk about that.” “Would you do it if you couldn’t get at the oil? Would you do it —” “If they’re treating us with great respect. As you know, we’re getting along very well with the administration that is there right now.” “Have you spoken to Delcy Rodríguez?” “I don’t want to comment on that, but Marco speaks to her all the time.”
January 8, 2026
Politics
Trump calls for $1.5T defense budget to build ‘dream military’
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President Donald Trump called for defense spending to be raised to $1.5 trillion, a 50% increase over this year’s budget.
“After long and difficult negotiations with Senators, Congressmen, Secretaries, and other Political Representatives, I have determined that, for the Good of our Country, especially in these very troubled and dangerous times, our Military Budget for the year 2027 should not be $1 Trillion Dollars, but rather $1.5 Trillion Dollars,” Trump wrote on Truth Social on Thursday evening.
“This will allow us to build the “Dream Military” that we have long been entitled to and, more importantly, that will keep us SAFE and SECURE, regardless of foe.”
The president said he came up with the number after tariff revenues created a surplus of cash. He claimed the levies were bringing in enough money to pay for both a major boost to the defense budget “easily,” pay down the national debt, which is over $38 trillion, and offer “a substantial dividend to moderate income patriots.”
SENATE SENDS $901B DEFENSE BILL TO TRUMP AFTER CLASHES OVER BOAT STRIKE, DC AIRSPACE
President Donald Trump called for defense spending to be raised to $1.5 trillion, a 50% increase over this year’s record budget. (AP Photo/Evan Vucci)
The boost likely reflects efforts to fund Trump’s ambitious military plans, from the Golden Dome homeland missile defense shield to a new ‘Trump class’ of battleships.
The Committee for a Responsible Federal Budget found that the increased budget would cost about $5 trillion from 2027 to 2035, or $5.7 trillion with interest. Tariff revenues, the group found, would cover about half the cost – $2.5 trillion or $3 trillion with interest.
The Supreme Court is expected to rule in a major case Friday that will determine the legality of Trump’s sweeping tariff strategy.
CONGRESS UNVEILS $900B DEFENSE BILL TARGETING CHINA WITH TECH BANS, INVESTMENT CRACKDOWN, US TROOP PAY RAISE
This year the defense budget is expected to breach $1 trillion for the first time thanks to a $150 billion reconciliation bill Congress passed to boost the expected $900 billion defense spending legislation for fiscal year 2026. Congress has yet to pass a full-year defense budget for 2026.
Some Republicans have long called for a major increase to defense spending to bring the topline total to 5% of GDP, as the $1.5 trillion budget would do, up from the current 3.5%.
The boost likely reflects efforts to fund Trump’s ambitious military plans, from the Golden Dome homeland missile defense shield to a new ‘Trump class’ of battleships. (Lockheed Martin via Reuters)
Trump has ramped up pressure on Europe to increase its national security spending to 5% of GDP – 3.5% on core military requirements and 1.5% on defense-related areas like cybersecurity and critical infrastructure.
Trump’s budget announcement came hours after defense stocks took a dip when he condemned the performance rates of major defense contractors. In a separate Truth Social post he announced he would not allow defense firms to buy back their own stocks, offer large salaries to executives or issue dividends to shareholders.
“Executive Pay Packages in the Defense Industry are exorbitant and unjustifiable given how slowly these Companies are delivering vital Equipment to our Military, and our Allies,” he said.
“Defense Companies are not producing our Great Military Equipment rapidly enough and, once produced, not maintaining it properly or quickly.”
U.S. Army soldiers stand near an armored military vehicle on the outskirts of Rumaylan in Syria’s northeastern Hasakeh province, bordering Turkey, on March 27, 2023. (Delil Souleiman/AFP via Getty Images)
He said that executives would not be allowed to make above $5 million until they build new production plants.
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Stock buybacks, dividends and executive compensation are generally governed by securities law, state corporate law and private contracts, and cannot be broadly restricted without congressional action.
An executive order the White House released Wednesday frames the restrictions as conditions on future defense contracts, rather than a blanket prohibition. The order directs the secretary of war to ensure that new contracts include provisions barring stock buybacks and corporate distributions during periods of underperformance, non-compliance or inadequate production, as determined by the Pentagon.
Politics
Newsom moves to reshape who runs California’s schools under budget plan
SACRAMENTO — Gov. Gavin Newsom on Thursday unveiled a sweeping proposal to overhaul how California’s education system is governed, calling for structural changes that he said would shift oversight of the Department of Education and redefine the role of the state’s elected schools chief.
The proposal, which is part of Newsom’s state budget plan that will be released Friday, would unify the policymaking State Board of Education with the department, which is responsible for carrying out those policies. The governor said the change would better align education efforts from early childhood through college.
“California can no longer postpone reforms that have been recommended regularly for a century,” Newsom said in a statement. “These critical reforms will bring greater accountability, clarity, and coherence to how we serve our students and schools.”
Few details were provided about how the role of the state superintendent of public instruction would change, beyond a greater focus on fostering coordination and aligning education policy.
The changes would require approval from state lawmakers, who will be in the state Capitol on Thursday for Newsom’s last State of the State speech in his final year as governor.
The proposal would implement recommendations from a 2002 report by the state Legislature, titled “California’s Master Plan for Education,” which described the state’s K-12 governance as fragmented and “with overlapping roles that sometimes operate in conflict with one another, to the detriment of the educational services offered to students.” Newsom’s office said similar concerns have been raised repeatedly since 1920 and were echoed again in a December 2025 report by research center Policy Analysis for California Education.
“The sobering reality of California’s education system is that too few schools can now provide the conditions in which the State can fairly ask students to learn to the highest standards, let alone prepare themselves to meet their future learning needs,” the Legislature’s 2002 report stated. Those most harmed are often low-income students and students of color, the report added.
“California’s education governance system is complex and too often creates challenges for school leaders,” Edgar Zazueta, executive director of the Assn. of California School Administrators, said in a statement provided by Newsom’s office. “As responsibilities and demands on schools continue to increase, educators need governance systems that are designed to better support positive student outcomes.”
The current budget allocated $137.6 billion for education from transitional kindergarten through the 12th grade — the highest per-pupil funding level in state history — and Newsom’s office said his proposal is intended to ensure those investments translate into more consistent support and improved outcomes statewide.
“For decades the fragmented and inefficient structure overseeing our public education system has hindered our students’ ability to succeed and thrive,” Ted Lempert, president of advocacy group Children Now, said in a statement provided by the governor’s office. “Major reform is essential, and we’re thrilled that the Governor is tackling this issue to improve our kids’ education.”
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