Tech industry wins big in California primary election with millions spent paying off

Silicon Valley had a big night in California’s primary election, proving that the tens of millions of dollars funding candidates across the state was money well spent. While the tech industry’s preferred candidate for governor came in a scant sixth place, donations to smaller elections proved to be a successful strategy. Tech billionaires have in past months thrown their full weight into politics as the industry fights regulations, taxation and promotes the unfettered growth of artificial intelligence. Getting the right candidates in office, especially in its home turf of California , is existential. With favorable candidates, tech companies can gain both political and regulatory leverage to maintain their dominance in business. Tuesday’s primary election in California saw unprecedented spending, much of which came from top tech companies , such as Google and Meta, as well as from dozens of executives and venture capitalists. The candidate grabbing the most headlines was Matt Mahan, the San Jose Democratic mayor who in January threw in his hat for governor and quickly became a Silicon Valley favorite. He amassed roughly $50m in donations, largely from the tech industry, including from former and current executives at Google, Amazon, LinkedIn, DoorDash, Palantir and more, public records show. …