Tags: cnbc | koch network | charles koch | silicon valley

CNBC: Koch Network Backs Silicon Valley Fight Against Regulation

chase koch, son of charles koch, chief executive officer of koch industries, is shown
Chase Koch, son of Charles Koch, chief executive officer of Koch Industries, is shown at The Broadmoor Resort in Colorado Springs, Colo. (David Zalubowski/AP)

By    |   Monday, 01 July 2019 11:32 AM

The network of advocacy groups run by billionaire Charles Koch has spent about $10 million to support technology companies in their efforts to fight government regulation, CNBC reports.

The Koch network, which has been a longtime influence on conservative causes and a major source of funds for Republicans, has largely avoid the party since the election of President Donald Trump in favor of focusing on issues. Despite spending $2.1 million on ads supporting Sen. Josh Hawley, R-Mo., the Koch network later criticized his bill involving immunity for online platforms as “toxic,” saying it would “punish success in the next generation of innovative startups.”

“We believe technology greatly improves people’s lives,” Jesse Blumenthal, who is director of technology and innovation for the Koch network’s Stand Together Foundation. “In order to facilitate that, we need cultural attitudes and policies that allow for experimentation. That’s why we’re taking a more active role in supporting positive tech work and holding government accountable on tech issues.”

Koch’s son, Chase, described his first meeting with major figures in Silicon Valley to donors on Sunday.

“I went into that with, admittedly, probably a closed mindset. How are they going to view Koch? How are they going to view me? Are they going to be open? And I was blown away,” he said, according to CNBC. “We disagreed on a lot of key priorities and the way things are approached. But on the things we could agree on, we had such fantastic partnerships with some of those folks.”

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The network of advocacy groups run by billionaire Charles Koch has spent about $10 million to support technology companies in their efforts to fight government regulation, CNBC reports.
cnbc, koch network, charles koch, silicon valley
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2019-32-01
Monday, 01 July 2019 11:32 AM
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