Sequoia’s Doug Leone turns on Trump

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Doug Leone, a venture capitalist at Sequoia Capital, was among the few prominent supporters of President Donald Trump in the tech community.

While quiet to the media in his support, the investor has donated hundreds of thousands to Trump-related re-election campaigns and reportedly sought to use his ties in a bid to help keep a Sequoia portfolio company, Chinese-backed social media company ByteDance, from being banned in the U.S.

On Wednesday, the investor at the influential venture capital firm came out to publicly denounced Trump’s actions following the storming of Capitol Hill last week.

“I strongly condemn the attack on the US Capitol and all acts of violence,” Leone wrote in a statement as first reported by Recode. “After last week’s horrific events, President Trump lost many of his supporters, including me. The actions of the President and other rally speakers were responsible for inciting the rioters.”

And in a nod to President-elect Joe Biden, he continued: “We need to find the best way to move forward as a country, get behind our newly-elected President, and start working on the many difficult issues facing America.”

Sequoia itself declined to comment. Though notably, fellow Sequoia investor Mike Moritz has donated heavily to Democratic causes and has not been shy about his criticisms of Trump in years past.

At any rate, eyes now turn to others who have supported Trump in the past within tech, including Oracle Chairman Larry Ellison and venture capitalist Peter Thiel, who has in recent months distanced himself from Trump altogether.

THE FIRST-DAY POP: Buy-now-pay-later fintech Affirm went public yesterday after significantly bumping up its IPO price. And then the stock rose over double in its first day of trading, enriching investors and founder Max Levchin alike—but also inevitably raising the question as to whether the company had left money on the table.

Markets are frothy right now. Airbnb is now valued at over $105 billion on an undiluted basis, a new high. Explanations of the stock’s rise centered around optimism towards a return back to normal and a rejuvenation in the travel industry. Makes sense, as vaccines are coming back. But if that is the case, then why the heck is DoorDash’s stock also hitting an all-time high? The food delivery company’s shares have soared as social isolation has become a norm. Now, the company is valued at $66 billion.

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