FOR THEIR PART DONALD TRUMP AND J.D.

VANCE ARE CAMPAIGNING IN SWING STATES THIS WEEK.

THEY'RE ALSO EYEING SILICON VALLEY WHERE SOME OF THE WEALTHIEST AND POWERFUL TECH TITANS ARE LINING UP BEHIND TRUMP.

ONCE A STRONG HOLD OF LIBERAL IDEAS THE CENTER OF U.S.

INNOVATION IS DRIFTING TO THE RIGHT, BUT OUR NEXT GUEST IS URGING HIS PEERS TO RETHINK.

MICHAEL MORITZ, SENIOR AT VISOR AT SEQUOIA HERITAGE JOINS WALTER ISAACSON TO EXPLAIN WHY.

>> THANK YOU CHRISTIANE.

AND MICHAEL MORITZ, WELCOME TO THE SHOW.

>> NICE TO SEE YOU, WALTER.

>> FOR THE PAST 40 YEARS YOU'VE BEEN A TITAN IN THE SILICON VALLEY ENTREPRENEURIAL TECH WORLD.

AND LIKE MOST PEOPLE YOU'VE BEEN A D.C., STILL ARE AND SUPPORT THE DEMOCRATS.

BUT THIS YEAR A SURPRISING NUMBER OF PEOPLE, I THINK, IN YOUR WORLD, IN SILICON VALLEY AND THE ENTREPRENEURIAL WORLD ARE BACKING DONALD TRUMP.

PETER TEAL, ELON MUSK, BEN HAROWITS, DAVID SACHS.

IS THIS A MAJOR CHANGE AND IF SO WHY?

>> YOU'VE COUNTED SIX PEOPLE ALSO IN SILICON VALLEY.

AND SILICON VALLEY BEING THIS STRETCH OF LAND THAT STRETCHES FROM SAN FRANCISCO TO SAN JOSE.

AND THE PEOPLE WHO ARE SUPPORTING TRUMP, SUPPORTING THE REPUBLICANS, THE SURPRISING THING ABOUT IT IS HOW SMALL A NUMBER IT IS, BUT HOW LARGE THE VOLUME OF -- THEY'VE BEEN ABLE TO GENERATE BECAUSE OF THEIR VARYING AND CLEVER COMMANDS OF DIFFERENT COMMUNICATION CHANNELS, IN PARTICULAR TWITTER AND ALL THE REST OF IT.

SO I THINK THEY'VE BEEN ABLE TO AMPLIFY THEIR VOICE AND THEIR SENTIMENTS FAR BEYOND THE REALITY OF THE PARTICULARS IN SILICON VALLEY, WHICH IS HEAVILY ANTI-TRUMP, AS IT HAS BEEN FOR THE LAST TWO ELECTIONS IN SILICON VALLEY IN BOTH 2016 AND 2020.

TRUMP BARELY MUSTERED 20% OF THE VOTE, AND IT'LL BE THE SAME RESULT THIS TIME.

>> BUT YOU TOOK UP ARMS IN A WAY IN A FINANCIAL TIMES PIECE IN WHICH YOU WROTE "TRUMP SUPPORTERS IN SILICON VALLEY ARE MAKING THE SAME MISTAKE.

ALL-POWERFUL PEOPLE WHO BACK AUTHORITARIANS."

WHAT DID YOU MEAN BY THAT?

>> WELL, IT'S PERPLEXING TO ME WHY THESE VERY SMART, ABSURDLY WEALTHY, INCREDIBLY ACCOMPLISHED INDIVIDUALS HAVE BACKED TRUMP IN THE FIRST PLACE.

AND I'M ALSO PERPLEXED BY THE FACT THAT I KNOW -- I DON'T KNOW ALL OF THEM WELL, BUT I KNOW THEM WELL ENOUGH TO IMAGINE THAT EACH OF THEM WOULD HAVE TROUBLE IMAGINING HAVING TRUMP AS PART OF ANY INVESTMENT SYNDICATE THAT THEY MIGHT ARRANGE AND ORGANIZE.

AND I CAN ONLY THINK THAT THEY THEY'RE DELUDING THEMSELVES INTO THINKING THAT THEY WILL HAVE INFLUENCE OVER TRUMP, THEY'LL BE ABLE TO CONTROL HIS ACTIVITIES.

THEY'LL BE ABLE TO CHANNEL HIM INTO THE PARTICULAR AREAS IN WHICH THEY HAVE AN INTEREST.

AND I THINK THAT'S THE MISTAKE THAT OTHER PEOPLE WHO HAVE BACKED AUTHORITARIANS, YOU KNOW, IN DIFFERENT CIRCUMSTANCES IN DIFFERENT COUNTRIES OVER THE YEARS HAVE ALSO MADE.

AND I THINK THEY'RE DELUDING THEMSELVES.

>> BUT A LOT OF THEM MAKE THE POINT THAT THE DEMOCRATIC PARTY HAS BECOME MORE AND MORE ANTI-ENTREPRENEURIAL.

EVEN YOU HAVE WRITTEN ABOUT REGULATORY REGIMES.

IT'S HARD FOR PEOPLE IN YOUR FIELD WHO ARE DOING STARTUPS AND TRYING TO TAKE RISK.

ARE YOU WORRIED THAT THE DEMOCRATIC PARTY HAS MOVED THAT WAY AND THUS CAUSED THIS BIT OF A REVOLT AGAINST THEM IN SILICON VALLEY?

>> I THINK IT'S VIA THE DEMOCRATS AND TO A LARGE EXTENT THE REPUBLICANS ALSO FOR DIFFERENT REASONS HAVE LOST TOUCH WITH THE REALITIES OF THINGS THAT CONCERN A WHOLE SLEW OF VOTERS.

AND BOTH PARTIES, I THINK, BEAR BLAME FOR NOT MANAGING FOR THE COMMON GOOD.

AND, LOOK, I LIVE IN CALIFORNIA.

AND I DESCRIBE MYSELF AS -- AS A SCHWARZENEGGER DEMOCRAT.

YOU KNOW, PRETTY LIBERAL ON SOCIAL ISSUES, REASONABLY CENTRIST OR CONSERVATIVE ON ECONOMIC ISSUES.

AND IF YOU LIVE IN CALIFORNIA AND YOU SEE WHAT DEMOCRATIC PARTY HAS DONE IN CALIFORNIA, THERE ARE PLENTY OF REASONS TO COMPLAIN.

AND I CAN SYMPATHIZE WITH A LOT OF THE ARGUMENTS THAT PEOPLE LIKE THE INDIVIDUALS THAT YOU MENTIONED AT THE BEGINNING, WALTER, WHO ARE BACKING TRUMP HAVE ABOUT THE TILT OF POLITICS PARTICULARLY IN CALIFORNIA, WHICH HAS BECOME INCREASING -- STATES WHERE IT'S BECOMING INCREASINGLY DIFFICULT TO DO BUSINESS.

I THINK THERE IS REASON THAT THESE PEOPLE HAVE GOOD REASONS FOR SOME OF THEIR COMPLAINTS.

BUT, UNFORTUNATELY, THEY'RE CHANNELLING THEIR FRUSTRATION TOWARDS THE WRONG INDIVIDUAL.

>> WELL, YOU'VE JUST TALKED ABOUT THE PROBLEMS IN CALIFORNIA BEING OVER-REGULATORY AND MOVING TO THE PROGRESSIVE LEFT.

WELL, KAMALA HARRIS, THE DEMOCRATIC NOMINEE, SHE'S A PRODUCT OF SILICON VALLEY CALIFORNIA POLITICS.

THE D.A.

OF SAN FRANCISCO, ATTORNEY GENERAL OF CALIFORNIA.

YOU WATCHED HER OVER THE YEARS.

WHY DO YOU THINK SHE CAN PUSH BACK AGAINST SOME OF THESE TENDENCIES YOU FIND PROBLEMATIC?

>> I THINK ONE WOULD CERTAINLY HOPE SO.

I DON'T THINK SHE'S REALLY A PRODUCT OF SILICON VALLEY.

SHE'S MUCH MORE A PRODUCT OF SAN FRANCISCO.

AND -- >> THAT MAKES MY QUESTION EVEN STRONGER.

>> WELL, I THINK ON THE PROGRESSIVE FRONT I COMPLETELY AGREE.

I THINK ONE WOULD HOPE THAT BOTH PARTIES UNDERSTAND THAT THE DISENFRANCHISEMENT THAT TENS OF MILLIONS PEOPLE LIVING IN THIS COUNTRY FEEL WHETHER IT'S THESE ULTRAWEALTHY PEOPLE THAT ARE BACKING TRUMP OR THE TENS OF MILLIONS OF PEOPLE WHO FEEL FORGOTTEN OR LEFT BEHIND, THEY ARE SENDING A VERY STRONG MESSAGE TO BOTH PARTIES, TO THE DEMOCRATS AND THE REPUBLICANS, THAT YOU'VE FORGOTTEN US.

AND YOU'VE FORGOTTEN THE TOUCHSTONES.

YOU'VE FORGOTTEN THE THINGS THAT PEOPLE CARE ABOUT WHEN IT COMES TO ECONOMIC MOBILITY AND BEING LEFT BEHIND AND ALL SORTS OF THINGS THAT HAS CAUSED THIS WELLSPRING OF SUPPORT FOR TRUMP.

AND THEN WITH LOTS OF PEOPLE IN CALIFORNIA NOW PROTESTING AT THE STATE LEVEL AND AT THE CITY LEVEL ABOUT THE FACT THAT PROGRESSIVE LEFT HAS MOVED BOTH IN CALIFORNIA, THE STATE, AND IN SAN FRANCISCO, THE CITY, INTO A DITCH THAT POLITICIANS ARE GOING TO GET THE MESSAGE INCLUDING THE DEMOCRATIC PRESIDENTIAL NOMINEE.

AND THAT'S CERTAINLY HAPPENING IN SAN FRANCISCO WHERE THE OPPOSITION TO ONE PARTY RULE IS AS STRONG AS IT'S BEEN IN 50 YEARS.

>> GIVEN WHAT YOU'VE JUST SAID ABOUT SAN FRANCISCO, DOESN'T THAT EXPLAIN SOME OF THE REBELLION OF PEOPLE IN THE ENTREPRENEURIAL AND TECH INDUSTRY AGAINST THE DEMOCRATIC PARTY?

>> I THINK IT DOES.

I THINK THEY HAVE PLENTY OF REASONS TO IN CALIFORNIA, WHICH, YOU KNOW, IS LARGELY A DEMOCRATIC STATE, OBVIOUSLY, TO HAVE LOTS OF COMPLAINTS ABOUT THE WAY IN WHICH THE STATE IS BEING GOVERNED.

AND THAT REFLECTS, OBVIOUSLY, ON THE DEMOCRATIC PARTY WRIT LARGE.

BUT I THINK THE SORT OF DEMOCRATIC PARTY LEADERSHIP THAT'S BEEN -- OR THAT HAS OCCURRED IN SAN FRANCISCO OVER THE LAST 20 YEARS IS PART OF THE LEFT OF WHAT'S HAPPENED IN STATE POLITICS AND IN THE STATE CAPITOL IN SACRAMENTO.

>> YOU MADE SOME BIG NEWS ABOUT A MONTH AGO WHEN JOE BIDEN WAS STILL IN THE RACE, AND YOU SENT AN E-MAIL TO "THE NEW YORK TIMES" THAT SAYS "PRESIDENT BIDEN HAS A CHOICE.

VANITY OR VIRTUE?

HE CAN EITHER CONDEMN THE COUNTRY TO DARK AND CRUEL TIMES OR HEED THE VOICE OF FATHER TIME.

THE CLOCK HAS RUN OUT."

HOW IMPORTANT DO YOU THINK PEOPLE LIKE YOURSELF ARE IN GETTING JOE BIDEN TO RECONSIDER RUNNING, AND WHY WERE YOU SO STRONG ABOUT THAT?

>> I -- I SUSPECT MY NOTE OR MY E-MAIL HAD ABOUT AS MUCH EFFECT AS A DROP OF RAIN IN A THUNDERSTORM.

BUT I THINK THERE WERE -- LOOK, THERE WERE, AS BOTH OF US KNOW AND AS EVERYBODY KNOWS, THERE WAS THE FACT -- HE WOKE UP TO THE FACT THAT HE WAS GOING TO EMBARK ON A WAR WITHOUT AN ARMY BEHIND HIM.

AND HE HAD FOUND THAT HIS GENERALS HAD GRADUALLY LEFT HIM AND LOST CONFIDENCE IN HIM.

AND THE RANK AND FILE OF DEMOCRATIC VOTERS HAD, AND HE'D BEEN HEARING THIS MESSAGE LOUD AND CLEAR FROM A VARIETY OF CONSTITUENTS INCLUDING INFLUENTIAL MEMBERS OF CONGRESS, THE FORMER SPEAKERER OF THE HOUSE.

AND THERE WERE A NUMBER OF PEOPLE IN SORT OF THE DONOR COMMUNITY WHO HAD SPOKEN OUT AND REGISTERED THEIR DISMAY AT THE PROSPECT OF HIM DESPITE ALL THE RESPECT THAT SO MANY PEOPLE HAVE FOR HIM, LEADING THE COUNTRY INTO -- OR LEADING THE DEMOCRATIC PARTY INTO THIS ELECTION THIS YEAR AFTER THE FIASCO OF THE DEBATE.

>> WHERE ARE YOU DIRECTING YOUR FINANCIAL SUPPORT IN THIS ELECTION?

AND WHAT TYPE OF DONATIONS ARE YOU GOING TO MAKE?

>> IT'S IN TWO AREAS.

ONE IN SAN FRANCISCO, WHICH IS MY PRIME AREA OF ACTIVITY.

AND WE HAVE BIG RACES AT A LOCAL LEVEL IN SAN FRANCISCO THIS FALL.

WE'VE GOT A MAYOR'S RACE.

WE'VE GOT RACES FOR THE SUPERVISORS POSITIONS, WHICH IS THE EQUIVALENT OF THE CITY COUNCIL.

AND THEN THERE ARE SOME CHARGE OR REFORM INITIATIVES THAT I'M HEAVILY INVOLVED IN.

SO I'M INVOLVE IN SAN FRANCISCO HEAVILY IN THOSE PARTICULAR AREAS.

AND THEN IN THE PRESIDENTIAL AREA, HARRIOT, MY WIFE AND HAVE BEEN DENOTING TO THE AMERICAN BRIDGE THAT IS ANCILLARY TO THE PRESIDENTIAL CAMPAIGN BUT THAT HAS BEEN MASSIVELY EFFECTIVE PARTICULARLY IN 2020 AND 2022.

AND WE'VE BEEN DEEPLY IMPRESSED BY THE MANNER IN WHICH THEY CAN EXECUTE VERY NIMBLY AND EFFECTIVELY AS AN ADJUNCT TO THE PRESIDENTIAL CAMPAIGNS.

>> ARE YOU PERSONALLY A STRONG SUPPORTER OF KAMALA HARRIS?

>> YES.

>> HOW DO YOU THINK THAT KAMALA HARRIS SHOULD CAMPAIGN?

AND ARE YOU WORRIED ABOUT HER BEING PERCEIVED AS PART OF THAT PROGRESSIVENESS THAT TOOK PLACE -- TOOK PEOPLE INTO A DITCH?

>> SHE WILL UNDOUBTEDLY -- THE TRUMP-VANCE CAMPAIGN WILL UNDOUBTEDLY TRY AND TIE HER TO SAN FRANCISCO MUCH AS IF GOVERNOR NEWSOM HAD BEEN THE PRESIDENTIAL CANDIDATE THEY WOULD HAVE TIED HIM AS THE FORMER MAYOR TO SAN FRANCISCO.

BUT I'M -- SHE NEEDS TO BE ABLE TO CONVINCE PEOPLE THAT SHE HAS GAINED A LOT OF EXPERIENCE BOTH IN HER ROLE IN THE STATE IN SACRAMENTO AND THEN AS IN THE SENATORIAL SEAT FOR THE COUNTRY, WHERE SHE IS AND HAS -- I ASSUME -- WIN LEARNING TO GOVERN FOR THE COMMON GOOD, WHICH MEANS MOVING TO A MUCH MORE CENTRIST LINE OF -- CENTRIST SET OF POLICIES AND METHOD OF GOVERNMENT.

>> YOU WERE A LONG TIME BOARD MEMBER OF GOOGLE.

I THINK YOU WERE ONE OF THE EARLY INVESTS, FOR WHICH CONGRATULATIONS.

BUT THE JUSTICE DEPARTMENT JUST WON A MAJOR RULING AGAINST GOOGLE AS ANTI-TRUST.

DO YOU THINK THAT THAT'S RIGHT TO THE JUSTICE DEPARTMENT TO BE PUSHING THESE THINGS?

AND WOULD YOU HOPE THAT KAMALA HARRIS AND OTHERS WOULD BE A LITTLE BIT LESS AGGRESSIVE IN ANTI-TRUST ENFORCEMENT?

>> POLITICIANS, THIS GOES BACK TO THE DIVINE RIGHT OF KINGS, I THINK.

AND WHEN YOU HAVE OVER-MIGHTY CITIZENS WHETHER THEY'RE DUKES AND MASSIVE LANDOWNERS IN MASSIVE ENGLAND OR POWERFUL CORPORATIONS IN AMERICA TODAY.

WHETHER IT'S AMAZON OR MICROSOFT OR FACEBOOK OR GOOGLE, POLITICIANS GET UNHAPPY WITH ANY ENTITY THAT THEY DON'T FEEL THAT THEY CAN CONTROL.

YOU CAN SEE IT IN THE EU AS WELL, TARGETING THE SAME COMPANIES.

YOU SEE IT IN CHINA WITH XI JINPING MOVING AGAINST THE LARGEST COMPANIES.

POLITICIANS AROUND THE WORLD ARE UNIVERSAL IN THEIR SKEPTICISM ABOUT COMPANIES THAT THEY CAN'T CONTROL, AND WE'VE SEEN IT BEFORE HERE.

WE'VE SEEN IT WITH IBM.

WE'VE SEEN IT AT&T.

I THINK THE GOOGLE BAFFLE WILL BE THIS ISN'T -- YOU KNOW, THERE WAS A COURT RULING, OBVIOUSLY.

BUT THE REMEDIES ARE GOING TO TAKE SEVERAL YEARS TO WORK OUT.

AND I WOULD HOPE THAT KAMALA HARRIS AND OTHERS COME TO RECOGNIZE ALSO THAT THESE COMPANIES HAVE LED THE WORLD INTO THE FUTURE AND GIVEN US BILLIONS OF PEOPLE AROUND THE WORLD SERVICES THAT WE COULDN'T IMAGINE WOULD HAVE EXISTED 40 OR 50 YEARS AGO.

>> MICHAEL MORITZ, THANK YOU SO MUCH FOR JOINING US.

>> THANKS.