Tech billionaire and “Shark Tank” guest investor Chris Sacca isn’t impressed with Donald Trump’s business record.
“It’s a sad state, this election right now,” Sacca told Business Insider during a “Shark Tank” event at New York City’s Paley Center for Media earlier this week. “I do not think, for whatever fluster comes out of his mouth, I don’t think Trump is a successful business person. I think he’s a fake.”
Unlike his fellow “Shark Tank” investor and tech mogul, Mark Cuban, who at first supported Trump’s presidential run on the virtues of his business acumen before changing his mind, Sacca feels he and others in Silicon Valley have very little in common with the real estate mogul.
“[Trump] stands for the opposite of a lot of what we stand for,” Sacca told us. “Silicon Valley is the ultimate meritocracy. It’s the ultimate expression of the American dream of social mobility. If you bust your arse, and you’re smart, and you hustle, and you take some risks, there’s a really good chance you can make it in this business. And you can make it big.”
“Silicon Valley is not a place where your dad leaves you tens of millions of dollars or loans you tens of millions more,” he continued. “It’s not place where you can not pay taxes, hide behind bankruptcy after bankruptcy. It’s not a place that tolerates taking advantage of employees and threatening to sue them if they want to get paid in full.”
Sacca — who, through his venture capital fund Lowercase Capital, was an early investor in companies such as Twitter, Uber, Instagram, and Kickstarter — has been thinking a lot about the virtues of the Silicon Valley tech business (and not just in relation to Trump). In fact, he said that’s the reason why he has signed on for more episodes of “Shark Tank,” which airs Fridays at 9 p.m. on ABC.
“‘Shark Tank’ actually brought me back to my very first days where it was just a couple of guys or gals working on a fun idea, written a few lines of code, maybe had a few users,” he said. “The conversation wasn’t about the big bucks. It was just about how do we make this thing better. Can we help each other do that? I really miss that. I realise that despite the success of our business, the passion had sort of fallen out of it for me. And ‘Shark Tank’ brought me back to why I care about this.”
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