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U.S. President Joe Biden has announce he no longer plans to seek reelection , a decision that follows weeks of growing pressure from some Democratic Party helper , including high - profile tech investor and executive .
“ It has been the great honor of my life sentence to serve as your President , ” Biden say ina statement . “ And while it has been my intention to seek reelection , I believe it is in the best pursuit of my party and the country for me to stomach down and to focus exclusively on fulfill my duty as President for the difference of my term . ”
Ina subsequent mail , Biden offer his “ full support and imprimatur ” for Vice President Kamala Harris to become the Democratic Party ’s nominee .
My fellow Democrats , I have decided not to take the nominating speech and to focus all my energy on my duties as President for the remainder of my term . My very first conclusion as the party campaigner in 2020 was to nibble Kamala Harris as my Vice President . And it ’s been the best…pic.twitter.com/x8DnvuImJV
The announcement come after Biden ’s appearance at the June 27 presidential debate reignited worry about the 81 - class - onetime candidate ’s age , prompting parts of the Democratic Party and its donor root word — including notable gens in the technical school world — to pressure him to drop out .
Venture capitalist Michael Moritz said this week thatBiden must ill-treat away , and he say he was put his contribution to the Democratic Party on hold in the meantime . Netflix carbon monoxide - founder Reed Hastingsand Zynga co - founder Mark Pincus had also call for Biden to shake off out of the wash .
Another VC , Ted Dintersmith , co - authored a design for a advise “ blitz primary feather ” processdesigned to take Biden ’s replacement . Other tech industry Democrats have been visible in the operation even if their positions on Biden were less clear — Harris meet with a group of Silicon Valley donorsincluding LinkedIn founder Reid Hoffman on Friday .
Since Biden herald he was dropping out , Hoffman said , “ I wholeheartedly affirm Kamala Harris and her candidacy for President of the United States in our engagement for commonwealth in November . ” Hastings did not indorse Harris butsaid the Democrats “ have promise now”and say party delegates “ need to pick a swing music State Department achiever . ”
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The announcement also comes afterthe seven-day Republican National Convention , where former chairman Donald Trump formally accept the party ’s nomination and named JD Vance ( a former VC withdeep tie to Silicon Valley ) as his running mate . cristal ownerElon Musk declared his support for Trump , as didVCs Marc Andreessen and Ben Horowitz , who argue that “ the time to come of our business enterprise , the future tense of engineering , and the futurity of America is at stake ” in this election .
Biden ’s condition has been an eventful one for tech : He sign the CHIPS Actwith $ 52.7 billionaimed at regenerate domestic semiconductor yield , fund EV and electric battery manufacturingandsigned another bill that will ban TikTokif its parent company ByteDance does n’t sell the app . He alsoappointed an FTC chairwho ’s been more than uncoerced to challenge big technical school companies over antitrust government issue .
