The clock is ticking fast on the presidential election, however, the eventful rollercoaster of the race leaves room for unexpected turns. Just recently, the tech industry contributed its fair share of such developments. Elon Musk, a titan of this industry, took center stage at a rally for Donald Trump, translating his fervent online support into a physical one. But, the event of the previous day was even more out of the blue when Ben Horowitz, a giant of venture capitalism who had previously voiced his support for Trump, announced his intentions to financially back Vice President Kamala Harris.
Musk’s declaration of being not just an average supporter of ‘Make America Great Again’ (MAGA), but a ‘dark MAGA’ during Trump’s rally in Butler, Penn was an attention-grabbing moment. This gathering at the same location where an unsuccessful attempt was made on Trump’s life earlier connected the dots leading to Musk’s open endorsement of Trump. Musk, with his characteristic energy, echoed his online sentiments about the alleged attempts by Democrats to limit free speech and unfairly influence voters, though not presenting direct proofs for his claims.
Meanwhile, Horowitz shared with his company, Andreessen Horowitz, his and his spouse’s decision to donate a sizable amount to organizations promoting the Harris Walz campaign. This move was quite surprising considering that Horowitz was thought to be a strong pillar of Trump support within the tech world for a considerable time. Horowitz and his co-founder had shown support for Trump previously in July attributing this to what they viewed as unsatisfactory tech policies, especially concerning cryptocurrency and artificial intelligence.
A deep dive by the San Francisco Standard revealed the aspects that made this gesture a shocking one. Among them was the fact that Horowitz and his spouse, Felicia, were known to be close to Harris and were supporters of her moderate political views. The backlash the couple faced from their social circle following their endorsement of Trump was also highlighted. Other familiar names from the tech world, like Reid Hoffman, Reed Hastings, Melinda French Gates, and Laurene Powell Jobs, are among those standing behind Harris.
Harris, on the other hand, is engaging in a series of interviews, ranging from friendly spaces to well-known podcasts. Another development on the international front propelling the election news is the rise in oil prices to nearly a six-week high on the back of concerns about escalating conflict in the Middle East. The cost of Brent crude oil almost touched $80 a barrel following Iran’s retaliatory missile attack on Israel, the effects of which were felt in the last week.
Israel’s decision to dispatch more troops to Lebanon to strengthen its stand against another Iran-backed group, Hezbollah, added fuel to the ongoing conflict. Moreover, Hamas marked the anniversary of the October 7 attacks with a rocket attack on Israel. Amid these international tensions, closer to home, Florida braces itself against the force of Hurricane Milton posing a potential threat of Category 3.
Simultaneously, Pfizer seems to be heading towards challenging times. The pharmaceutical leader’s CEO, Albert Bourla, is under increased scrutiny. Activist investor Starboard, who now holds a $1 billion stake in Pfizer, urges for substantial modifications in the company’s current approach. Bourla had previously been hailed as a significant player in the fight against Covid, being instrumental in Pfizer’s successful creation of the world’s first vaccine, in conjunction with BioNTech.
Further boosting Pfizer, investors eyeing the opportunity of societal reopening saw in it an attractive option pushing the company shares to an all-time high towards the end of 2021. Notable contentions in Pfizer’s portfolio were the revenues of approximately $100 billion from the sales of their coronavirus vaccine and Paxlovid, a novel treatment for Covid-19 in the year 2022 alone. However, a subsequent softening demands for such Covid-related solutions forced the company to reassess its growth projections downwards.
No shortage of challenges face Pfizer in the near term. Efforts to capture the lucrative weight-loss market and to compete against rivals such as Novo Nordisk and its acclaimed drug, Ozempic have not yielded the desired results. But in this unpredictable world of business, failure is not the end rather the beginning of an opportunity to rethink and re-strategize.
In another corner of the business world, the ordeal around the Vista deal could potentially be reaching its conclusion. Vista Outdoor is engaging in an extensive defense against an unwanted offer, and it appears they may have landed the final hit. The company’s recent move to offload its Revelyst consumer division, which creates products like CamelBak water bottles, to a private equity firm has stirred hopes that its shareholders might finally back its previous plan of selling its ammunition business.
Elon Musk Shows Unwavering Support for Trump at Rally appeared first on Real News Now.
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