Why Are Tech Billionaires Saying VC David Sacks May Be 'The Most Evil Person In Silicon Valley'?

A public dispute between former Zenefits co-founders David Sacks and Parker Conrad has ignited a firestorm among Silicon Valley's elite. This escalation began last week when Craft Ventures co-founder David Sacks publicly criticised Democratic Party candidate Kamala Harris, triggering a heated online exchange among several prominent business people.

Because of this, tech billionaires are heatedly debating who the "most evil person in Silicon Valley is," with VC Sacks seemingly leading the list.

David Sacks' Coup Claims Stir Up Political Storm

Sacks alleged that the US Vice President was orchestrating a "coup" to overthrow President Joe Biden and take over as the head of the Democratic Party. "One candidate survived assassination," he wrote, referencing the attack on Donald Trump. "The other staged a coup. Your choice, America."

In a subsequent post, he claimed that Democrat propagandists have been discussing a fake coup for more than three years, and they are now desperate to deny that a real one has happened. Oliver stated that while President-elect Biden wasn't at risk of being overthrown on January 6, 2021, he was replaced as the Democratic Party nominee on July 21, 2024, despite his repeated insistence that he didn't want to go.

After Biden announced his withdrawal from the presidential race and endorsed Harris as his successor, attention quickly shifted to the Vice President and her husband, Doug Emhoff. Both have built impressive careers in public service and accumulated significant wealth through a diverse array of assets and investments.

Oliver argued that this was not a "voluntary abdication"' but rather a "political hit," which he described as a "coup in [his] book." These politically charged statements have sparked a frenzy online, leading to former colleagues digging up Sacks' alleged past career moves.

Breaking Down the Silicon Valley Squabble

Forty-four-year-old Rippling CEO Parker Conrad joined the conversation by retweeting Sack's post and adding, "Let me tell you, coups are this man's speciality." Conrad co-founded Zenefits with Sacks in 2012 and served as the company's CEO until his resignation in 2016.

Buzzfeed News reports that Conrad left the company after it was found that Zenefits had used unlicensed brokers to sell health insurance across multiple states. According to TechCrunch, Conrad and Zenefits eventually resolved the SEC investigation and paid fines without admitting wrongdoing.

Sacks, who served as COO, was cleared of any misconduct and swiftly replaced Conrad as CEO. Responding to Conrad's tweet, the South African entrepreneur wrote, "You were sanctioned by the SEC. Nobody else, only you. But you've spent the last decade trying to shift the blame onto others for your own poor ethics."

Following Conrad's pointed remark, other Silicon Valley entrepreneurs joined the fray. Paul Graham was quick to defend Conrad, tweeting, "Do you really want the full story of what you did to Parker to be told publicly? Because it's the worst case of an investor maltreating a founder that I've ever heard, and I've heard practically all of them."

"I was talking recently to another investor about whether you're most evil person in Silicon Valley," he continued via social media. He thought about it for a few seconds, and agreed that he couldn't think of anyone worse."

Meanwhile, Cloudflare CEO Matthew Prince offered a more cautious opinion, stating he was unsure if Sacks was the "most evil person in Silicon Valley" due to "lots of competition." These public exchanges come amid a broader shift in the industry.

A March report suggested Elon Musk has adopted a more conservative stance, challenging the long-held perception of Silicon Valley as a liberal stronghold.

"I really really hate bullying and pile-ons except when it's well-deserved," while Ilhar Mahaniok, a managing partner at VC firm Geek Ventures, said: "I'm glad that finally David Sacks is getting the treatment he deserves," AI investor Siri Srinivas added.