Sexy-rich, politically connected Silicon Valley versus the exploited and oppressed Uyghurs. Who wins?
China apparel exporters versus American textile manufacturing companies? Where do you put your money?
Recently, that bet got placed by six Democrats and Republicans in the House and Senate. (Plus, a twist I did not see coming.)
Within the Silicon Valley universe, Sequoia Capital of Menlo Park, California, has long been the home to political operators. Their A-list venture capitalists from Sequoia Heritage, their private investment firm, are big donors (and small) to both parties. The company split its China and India branches off from the U.S. firm this summer, perhaps due to the perception that Washington would put pressure on venture capital investors for their China funding.
What a good guess that was. On July 19, the House Select Committee on the Chinese Communist Party sent a letter to four VC firms asking about their semiconductor, quantum computing, and artificial intelligence investments in China. Sequoia was not one of the four.