TL;DR:
• Sequoia's Michael Moritz publicly defends Intel CEO after Trump's resignation demand
• Intel shares surge 5% as CEO visits White House to address concerns
• Moritz calls attack "vindictive political sideshow" challenging corporate boards to show "backbone"
• Sets precedent for how tech industry will handle political pressure under Trump administration
Sequoia Capital legend Michael Moritz just threw down the gauntlet against President Trump's unprecedented attack on Intel CEO Lip-Bu Tan. The veteran venture capitalist is calling Trump's demand for Tan's resignation "artless bullying" with "no modern precedent," setting up a high-stakes showdown between Silicon Valley's most influential investors and the White House over corporate independence.
The battle lines are drawn. Sequoia Capital's Michael Moritz, the legendary investor behind Google and PayPal, just delivered a scathing rebuke to President Trump's attack on Intel CEO Lip-Bu Tan. In a Financial Times op-ed published Sunday, Moritz called Trump's demand for Tan's resignation a "vindictive political sideshow" with "no modern precedent."
The stakes couldn't be higher. Intel shares jumped nearly 5% Monday as investors digested the rare public defense from Silicon Valley's most influential circles. The move signals growing tension between tech's power brokers and a White House increasingly willing to target individual CEOs.
"Trump's assault has no modern precedent," Moritz wrote, framing the controversy as a test case for corporate America. The 78-year-old venture capitalist, who spent decades at Sequoia before stepping down in 2023, has known Tan personally for nearly four decades - giving his defense unique credibility in both Silicon Valley and Wall Street circles.
The controversy erupted last week when Trump posted on Truth Social calling the 65-year-old Tan "highly CONFLICTED" and demanding his resignation. Senator Tom Cotton amplified the pressure, raising questions about Tan's previous business ties to Chinese companies and potential national security risks.
