Venture capitalist Garry Tan has a new project in mind to wage a war of influence regarding artificial intelligence (AI). As the president and CEO of the influential technology startup incubator, Garry Tan aims to mobilize his startup friends into an army that can counterbalance the tech industry lobbying in Washington. Here we are talking about Little Tech Sets Its Sights on Washington.
Here we are discussing about Little Tech Sets Its Sights on Washington:
Emergence of “Little Tech”
Little Tech comprises thousands of venture-backed firms that aspire to work in the emerging AI economy. It is quite challenging for such startups, which may be run by only a few employees who work from their bedrooms or small offices, to manage power and influence in Washington. In contrast, they do not have the support, money, and influence over the government like Microsoft or Google.
In the interview with Politico, Garry Tan said, “A two-person startup in a bedroom someplace — really anywhere in the country — cannot show up at the doorstep of any of the folks who are in power and have access.”
Regulatory Barrier to Innovation
Tan and many of the companies he works with are worried that federal rules designed to mitigate risks of AI may inadvertently result in industries dominated by the leading technology firms. However, on the downside, there is a danger that regulations may become barriers to innovation and reduce the opportunities of smaller players.
Little Tech in Washington
Garry Tan, who is already a quasi-politician in California, made an unusual two-day visit from San Francisco to Washington in late May. During his visit, he hosted several influential players such as Senate Majority Leader Chuck Schumer, Senators Elizabeth Warren, J.D. Vance, and White House officials. His message was clear: Little Tech must be heard in Washington.
Garry Tan targeting the audience said, “With politics, as a tech person myself, I had sort of put my head in the sand. I choose voice. We choose voice. And what that means is being present — I want to come to D.C.!”
Portfolio Companies Total Value
In California, Garry Tan has achieved near cult-like status. Palantir, the defense-tech firm Palantir, as well as the Chief Executive Officer of Y Combinator, has helped found popular start-ups including OpenAI, Airbnb, and Dropbox. Today, his portfolio of companies has a total value of over $600 billion.
Voice in Washington
Garry Tan used to bury his head in the sand concerning politics. But he decided to act when Silicon Valley Bank, one of the most vital startups’ financial assets, shut down. He understood that startups require their voice to be heard in Washington.
Conclusion
With the struggle for the control of AI heating up, ‘Little Tech’ is ready for the fight. These startups, led by Garry Tan, are dedicated to policymaking that encourages innovation, defends privacy, and eliminates inequity. Whether they can help shift the balance that heavily favors the large firms is yet to be determined, but at least they have secured their voices in Washington.
