It’s no surprise that Silicon Valley wouldn’t necessarily be on Donald Trump’s side. And that was proven, yet again, this week when Trump, in a Reuters interview, said that start-ups in technology that haven’t yet been profitable are part of a bubble in the tech industry. As Trump said, “I’m talking about companies that have never made any money, that have a bad concept and that are valued at billions of dollars, so here we go again.”
Certainly, tech watchers have been warning about this for quite a while – so Trump’s “news” wasn’t really news to them. Many took to Twitter to make fun of the presidential hopeful. As Marc Andreessen, a general partner at the prominent venture capital firm Andreessen Horowitz, mockingly said, “FINALLY someone calls it out.”
As Trump said in the interview, “You have a stock market that is very strange. You look at some of these tech stocks that are so, so weak as a concept and a company, and they’re selling for so much money. And I would have said can that ever happen again? I think that could happen again.”
Vivek Wadhwa, an entrepreneur and Stanford University fellow, told Reuters, “So far he has been saying dumb things but they seem to be getting dumber and dumber.