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Tech leaders like Romney, think Obama will win

Technology leaders President Obama will be re-elected, but think Republican nominee Mitt Romney would give a bigger boost to the technology economy, according to a new survey.

The DLA Piper Technology Leaders Forecast Survey found, among other things:

    76 percent of tech leaders expect President Obama to be re-elected
    64 percent believe Romney would be better for the technology economy
    64 percent see an increased threat of regulation for the private equity and venture capital

DLA Piper, a global law firm, distributed its survey in late September and early October to senior executives and advisors in the technology industry, including CEOs, CFOs and other company officers at tech companies, as well as to venture capitalists, entrepreneurs and consultants. The study was released today in conjunction with DLA Piper’s Global Technology Leaders Summit taking place at the Rosewood Sand Hill in Menlo Park.

Sixty percent of business leaders are skeptical that a second term for the Obama administration would have a positive impact on the technology sector. The partisan tables have turned since the 2008 election, when nearly 60 percent of tech executives believed that then-Senator Barack Obama would have a more positive impact on technology development and investment than his GOP opponent, U.S. Sen. John McCain.

“Regardless of the election’s outcome, it seems clear that what technology leaders want out of Washington is greater clarity on regulation and tax policy. Those themes surfaced prominently in our latest version of the survey,” Peter Astiz, global co-head of the Technology Sector at DLA Piper, said in a news release.

The survey found 78 percent of respondents believe that the presidential campaign dialogue surrounding private equity – namely, attacks upon Romney’s record at Bain Capital – has damaged the reputation of the private equity and venture capital industry, and 65 percent expressed concern that this focus could likely lead to new regulation of the industry.

Most respondents – 60 percent – think letting the Bush-era tax cuts expire would negatively impact tech-sector investments; 33 percent think the tax cuts’ expiration would have no direct impact on the tech sector’s growth.

Josh Richman

Josh Richman covers state and national politics for the Bay Area News Group. A New York City native, he earned a bachelor’s degree in journalism from the University of Missouri and reported for the Express-Times of Easton, Pa. for five years before coming to the Oakland Tribune and ANG Newspapers in 1997. He is a frequent guest on KQED Channel 9’s “This Week in Northern California;” a proud father; an Eagle Scout; a somewhat skilled player of low-stakes poker; a rather good cook; a firm believer in the use of semicolons; and an unabashed political junkie who will never, EVER seek elected office.