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

Key points

• 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.