Contributing to the Fairshake PAC

12.18.23

August, 2024 update: Due to an error in how the FEC lists contributions in its databases, these contributions may be incorrectly displayed alongside additional, duplicate individual donations from the founders of a16z. Reporting that includes these as separate individual contributions would not be accurate, as that both double counts the correct figures as well as misattributes contributions from the firm as from individuals. This results from an issue in how the FEC files contribution forms that include “memo items” intended to show who owns a company, not additional personal contributions from those owners. As of August 2024, a16z as a firm has made contributions to Fairshake PAC; the firm’s individual founders have not.
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May, 2024 update: Since the publishing of this blog post a16z made an additional $25 million contribution to the Fairshake PAC bringing the firm’s total contribution to Fairshake and its associated PACs to $47 million– see here.

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Last week, Ben Horowitz posted about how a16z will become more active in supporting pro-technology candidates across the country.

Aligned with that strategy, today we announced our contribution to the Fairshake PAC, which will work to elect leaders who champion thoughtful crypto regulation that balances innovation with consumer protection.

There is a battle in Washington about the future of blockchain technologies: Certain policymakers believe it should be banned, while other people think it should have no guardrails. Neither of those options will allow the technology to reach its full potential and realign the future of the Internet away from Big Tech to the people who use it.

As I’ve spent more time with lawmakers, it has become more apparent that the only way to counteract the lobbies of the big banks and big tech is to show that crypto and blockchain can be a force, too.

There are two parts to this, coalition building and raising funds to support the cause. That is what this PAC is all about – bringing together responsible actors in web3 and crypto to help advance clear rules of the road that will support American innovation while holding bad actors to account.

While we won’t control how Fairshake spends our donation, we are encouraged by their vision. And we’ll continue working to make sure our allies in the crypto world make their voices heard as well.

I look forward to continuing my trips to DC to meet with policymakers and represent the hard-working and responsible web3 entrepreneurs in our portfolio so that we can build a better internet together.

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