Latest news with #techfounders
Forbes
09-07-2025
- Business
- Forbes
Hundreds Sign Letter Supporting Shaun Maguire Amid VC's Mamdani ‘Islamist' Comments
A letter supporting Shaun Maguire, a partner at Silicon Valley venture capital firm Sequoia Capital, amid backlash over his comments accusing New York City mayoral candidate Zohran Mamdani has reportedly garnered hundreds of signatures—including top names connected to PayPal andSeamless—after nearly 1,000 tech founders demanded Sequoia take disciplinary action. Partner at Sequoia Capital Shaun Maguire speaks during the Hill & Valley Forum at the US Capitol ... More Visitor Center Auditorium in Washington, DC, on April 30, 2025. (Photo by Brendan SMIALOWSKI / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) AFP via Getty Images The new letter, reported by Business Insider, says Maguire's comments on Mamdani 'were not hate speech' and are instead 'the reflections of a principled thinker and a partner to countless founders who span geographies, faiths, and political beliefs.' The letter condemns tech founders who have demanded disciplinary action, stating the 'calls to punish or remove him are part of a larger and worrying trend: ideological mobbing disguised as a moral virtue.' Maguire told Business Insider on Tuesday an 'unbelievable number of people' have reached out to support him, and he said he believes he is being targeted for his pro-Israel advocacy. The letter supporting Maguire has more than 355 signatures as of Tuesday, Business Insider reported, with signatories including David Marcus, former president of PayPal; Jason Finger, founder of Seamless; and Josh Wolfe, founder of Lux Capital. Maguire, over the past week, has made dozens of posts on X criticizing Mamdani, in some of which he has accused the mayoral candidate of being an 'Islamist.' Maguire first sparked controversy for a post over the weekend criticizing Mamdani, who was born to Indian parents in Uganda, for marking his race on a college application as 'Asian' and 'Black or African American.' Maguire said Mamdani 'comes from a culture that lies about everything' to advance an 'Islamist agenda.' In the days since, Maguire has doubled down on his comments despite the backlash, including in a 30-minute video he posted in which he apologized for offending anyone. But in other posts, he claims Mamdani promotes 'explicitly anti white policies,' alleging he 'hates America.' What Does The Open Letter Condemning Maguire's Comments Say? The open letter condemning Maguire's comments on Mamdani has been signed by 981 tech founders representing 923 companies as of Wednesday morning. The letter calls Maguire's 'Islamist' accusation a 'deliberate, inflammatory attack that promotes dangerous anti-Muslim stereotypes.' The signatories demand Sequoia publicly denounce Maguire's comments by July 14, or else they will 'proceed with broader public disclosure, media outreach and mobilizing our networks to ensure accountability.' The letter also calls on Sequoia to publish a zero-tolerance policy on religious bigotry, establish a hotline to report discrimination by Sequoia employees and conduct an investigation into Maguire's conduct over the past two years. Maguire, a partner at the powerful Silicon Valley-based Sequoia Capital, is politically vocal on social media and is a prolific supporter of President Donald Trump. Last year, Maguire said he donated $300,000 to Trump's 2024 election campaign, and he has praised Trump's attacks on Iran's nuclear facilities and his deportations in recent weeks. Maguire has led Sequoia's investments into various companies, including several founded by Elon Musk. Further Reading Sequoia's Shaun Maguire Doubles Down On Mamdani 'Islamist' Comments Despite Furor (Forbes)
Bloomberg
27-06-2025
- Business
- Bloomberg
Wealthy Silicon Valley Investors In Line for $17 Billion Windfall in GOP Tax Bill
Silicon Valley's favorite tax break may be getting an upgrade. Venture capitalists, along with successful tech founders and early startup employees, already pay no taxes on billions of dollars of gains annually, thanks to a lucrative and complicated provision called Qualified Small Business Stock, or QSBS. Now the carve-out could get even more generous in changes included in Senate Republicans' proposed tax and spending bill moving through Congress.
Fast Company
19-05-2025
- Business
- Fast Company
Tech startup leaders need to think globally from the get-go
'The best way to predict the future is to create it.' This timeless insight from renowned 20th-century Austrian-America management consultant Peter Drucker is especially relevant for startup leaders who aim to build something that stands the test of time. In today's digital economy, global expansion has never been easier—yet many tech founders are still focused on an initial geographical market. While starting with that thinking may seem practical, failing to embed a global mindset from the get-go can limit long-term potential. The reality is, startups that delay international thinking face tougher roadblocks later—scaling infrastructure, product-market fit, cultural nuances, and competition become bigger hurdles than necessary. The best startups anticipate these challenges early, positioning for global impact before opening a second office. I've seen this firsthand—setting out to empower the world with your company's tools shouldn't just be a tagline; it should shape every product decision, hire, and expansion effort. For founders unsure where to start, here's what I've learned about building global-first from day one. Establishing a clear vision A strong vision serves as a guiding light through the thousands of decisions a company must make. Startups that scale successfully have a clear and ambitious purpose that informs their strategy from day one. For example, at Canva, we've aimed to make our product accessible to anyone, anywhere in the world. And while this seemed massively aspirational at our founding, it's helped us avoid complacency, and feels more realistic as you focus on hitting incremental milestones. In the early days, you won't be able to build a solution for every conceivable challenge. Focusing on your most obvious core audience, or, finding a niche that isn't too restrictive—tools for real estate, e-commerce, marketing, etc.—can ensure the foundation to support future expansion. Balancing ambition with practicality isn't just a challenge—it's a necessity. Those who master it pave the way for sustainable, scalable global success. Solve a problem that transcends borders Startups often face resource constraints, making it tempting to prioritize short-term gains over long-term scalability. However, founders must resist the urge to build products solely for their initial market. Instead, they should develop solutions with modularity and adaptability in mind. I believe in focusing on solving a fundamental problem—simplifying graphic design was our strategic focus—while ensuring that a platform can evolve for different industries, languages, and cultures. As your startup grows, maintaining flexibility becomes even more important. More than 10 years in, my company is still adapting to changing markets, shifting consumer expectations, and emerging trends. Balance focus and flexibility If you are an American startup founder, remember that 95.7% of the world's population lives outside of the U.S., and many of them may fall into your target customer demographic. Therefore, the ability to refine strategies based on global opportunities is a crucial trait of long-term success. This goes far beyond just translating the interface. It involves integrating local payment methods, content, templates, SEO strategies, and much more. At Canva we refer to a helpful metaphor of cupcakes and icing. The cupcake is our core offering of design and workplace software. The icing is the way we build on top to suit different countries, languages, and industries. The most important thing is that the cupcake is made in a way that it can expand and serve all of these different needs. The power of passion and storytelling A founder's passion is contagious. When a team believes in the company's mission, they'll go the extra mile to execute it. But passion alone isn't enough—it must be communicated effectively and proven in actions. Founders should meaningfully lift the hood on their own motivations as often as is appropriate, whether it's the inspiration behind the product, the obstacles overcome, or the impact their product has had on customers worldwide. I know from experience that this can be extremely successful in uniting a workforce around a shared mission. This becomes even more critical as a company scales across borders and languages. Consistently telling and refining your story ensures alignment and momentum, especially as new markets open up. A globally resonant narrative makes it easier to expand into different regions while maintaining a strong brand identity—and it starts at the top! Integrating emerging technologies Startups that embrace new technologies early gain a competitive edge. Staying ahead means keeping a pulse on industry shifts, making judgement calls as to whether a new technology aligns with your goals, and taking calculated risks. It also means building to adapt, and minimizing reliance on any single model or partner. Find ways to be 'pluggable' with other tools and technologies so you can evolve your tech stack without starting from scratch. In Q3 2024, AI startups accounted for 31% of global venture funding, signaling an industry-wide shift toward automation and intelligent systems. AI is offering an unprecedented opportunity to grow efficiently, without adding costs. Companies that delay integrating these advancements risk falling behind. Regardless of a startup's stage, a forward-thinking approach to technology is key to long-term success. Building internationally and for decades to come The most successful startups aren't those that expand internationally just because they need to continue to grow sales; they're the ones that embed a global mindset into their culture, strategy, and vision from the get-go. Founders must recognize that the world is their market, not just their home country. From my native Australia to America and everywhere in between, each market might benefit from a product in different ways. Wise founders will commit to exploring and embracing those differences by building adaptable products, crafting a resonant brand story, hiring teams with diverse perspectives, and leveraging technology to stay ahead. In the end, the startups that think globally from the beginning are the ones that don't just react to the future—they create it, just as Drucker envisioned.
