Sequoia’s Doug Leone activates Trump

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Doug Leone, a enterprise capitalist at Sequoia Capital, was among the many few distinguished supporters of President Donald Trump within the tech group.

Whereas quiet to the media in his help, the investor has donated lots of of 1000’s to Trump-related re-election campaigns and reportedly sought to make use of his ties in a bid to assist hold a Sequoia portfolio firm, Chinese language-backed social media company ByteDance, from being banned within the U.S.

On Wednesday, the investor on the influential enterprise capital agency got here out to publicly denounced Trump’s actions following the storming of Capitol Hill last week.

“I strongly condemn the assault on the US Capitol and all acts of violence,” Leone wrote in an announcement as first reported by Recode. “After final week’s horrific occasions, President Trump misplaced lots of his supporters, together with me. The actions of the President and different rally audio system had been chargeable for inciting the rioters.”

And in a nod to President-elect Joe Biden, he continued: “We have to discover the easiest way to maneuver ahead as a rustic, get behind our newly-elected President, and begin engaged on the various tough points going through America.”

Sequoia itself declined to remark. Although notably, fellow Sequoia investor Mike Moritz has donated closely to Democratic causes and has not been shy about his criticisms of Trump in years previous.

At any fee, eyes now flip to others who’ve supported Trump up to now inside tech, together with Oracle Chairman Larry Ellison and enterprise capitalist Peter Thiel, who has in latest months distanced himself from Trump altogether.

THE FIRST-DAY POP: Purchase-now-pay-later fintech Affirm went public yesterday after considerably bumping up its IPO worth. After which the inventory rose over double in its first day of trading, enriching investors and founder Max Levchin alike—but additionally inevitably elevating the query as as to if the corporate had left money on the table.

Markets are frothy proper now. Airbnb is now valued at over $105 billion on an undiluted foundation, a brand new excessive. Explanations of the inventory’s rise centered round optimism in direction of a return again to regular and a rejuvenation within the journey business. Is sensible, as vaccines are coming again. But when that’s the case, then why the heck is DoorDash’s inventory additionally hitting an all-time excessive? The meals supply firm’s shares have soared as social isolation has develop into a norm. Now, the corporate is valued at $66 billion.