One business leader is speaking out against former President Donald Trump, as Trump has tried to rally support and donations from business executives.
What Happened: While several members of the so-called "Paypal Mafia," like David Sacks, have shown support for Trump, LinkedIn co-founder Reid Hoffman is not one of them.
On Thursday, Hoffman argued that President Joe Biden is a more pro-business president than Trump, a notion that many in the business sector may disagree with.
"If the only things about being pro-business are regulation and taxes, then great, it's whoever goes lower on regulation and taxes," Hoffman tweeted. "But rule of law is what has made American very special."
Hoffman mentioned the trust that other countries have in America, which allows businesses to export products and sign deals. Hoffman also said the US dollar being the reserve currency of the world is important for business.
"Biden is fundamentally, no matter what, more pro-business than Trump," Hoffman told CNN in an interview.
Hoffman said another thing that makes Trump less pro-business is the fact that people who previously worked for him now say he's a disaster and will never work for him again.
"If you understand business at all, if your entire exec staff says your CEO really blows, you really take a close look at that CEO."
Hoffman argued that Trump is also a convicted felon and has shown a complete disregard for the law, which may make him less attractive in the business world.
The investor said that Trump doesn't disavow violence, and other business leaders might be naive to suggest that Trump doesn't mean what he says and shouldn't be taken literally.
"You should take them literally and seriously," Hoffman said of Trump's comments.
Related Link: Reid Hoffman On Why Sam Altman Was Briefly Ousted From OpenAI: ‘Still Don’t Think We Fully Know’
Why It's Important: The tweet and CNN interview come after Hoffman wrote an op-ed for The Economist.
In the piece, Hoffman said American business should not empower a criminal.
"No rational CEO would want a capricious strongman in the White House," Hoffman said.
Hoffman wrote that businesses and investors "rely on a robust legal system."
"Unfortunately, many Americans business leaders have recently developed a kind of myopia, miscalculating what politics, and which political leaders, will truly support their long-term success."
Hoffman said business leaders are opening up their wallets for Trump despite him being "known as a liar and grifter."
The investor also wrote that the stock market has hit records under Biden.
"Americans who prize respect for the law, stability and prosperity – including even business leaders who might value the last of these most highly – should take Mr Trump literally and seriously, and do everything they can to prevent his return to the White House."
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