MAGA Tech VCs Whine Like Babies After Democratic Sweep

Democrats across the country won decisively on Tuesday in a midterm election for the history books. Deep red South Carolina, North Carolina, Iowa, Ohio, and Kansas all saw shocking wins for Democrats—a clear repudiation of Trumpism rooted in anger over soaring costs and executive overreach. Texas, a state where many high-profile tech leaders and venture capitalists have moved in recent years, was particularly interesting to watch. James Talarico was elected the first Democratic U.S. Senator from Texas since 1988. Gina Hinojosa was elected the first Democratic governor in Texas since 1995. Supporters of President Donald Trump living in Texas aren’t taking it well, especially those who recently moved to the state in an effort to live out their MAGA dreams. Jason Calacanis, who moved to Texas from California in 2024, said “don’t blame me” as he watched the prediction markets react Tuesday night. The venture capitalist said he had voted straight Republican and hadn’t “ruined” Texas like so many other Californians who had moved to the Lone Star State. It was clear over the past year that President Trump was going to lead the GOP off the cliff because of ice, the war, tariffs, the other war and inflation. … but I never expected Texas to turn blue 🤯 Ugh, I moved here to get away from the left lunacy! pic.twitter.com/VTFzfXchHp — @jason (@Jason) November 4, 2026 Mike Solana from the Founders Fund tweeted Tuesday night: “texas + california politics would (will?) be a much, much, *much* worse place to live than california.” New York Post columnist Lydia Moynihan replied: “CA politics but without the beach and good weather.” Elon Musk, the most famous MAGA supporter who famously moved to Texas, spent almost half a billion dollars on the midterm elections and has very little to show for it. In fact, Musk deleted many of his recent tweets promoting Republicans after it became clear he was getting his ass handed to him. Elon Musk spent over $200 million on this basically pic.twitter.com/YMJT5Gb3Fb — nude gingrich (@JarJarFan69) November 4, 2026 Musk pushed particularly hard against James Talarico, who beat Republican Ken Paxton for the Senate seat 55% to 43%, according to the AP. Musk tried to argue that Talarico wanted to turn everyone’s kids trans, a desperate ploy that clearly didn’t work. Musk, who took a chainsaw to the federal government in 2025 under DOGE, has previously said that he was worried Democrats might put him in jail if they ever took power. Dow Jones Industrial Average Up 1,500 points The stock market surged Wednesday, though AI-dependent stocks sat out the rally. SpaceX stock is down 3% on the day at $137, and Tesla is down 2%. And some VCs tried to look on the bright side and just push forward with their vision for the future, like Christian Garrett, a partner at 137 Ventures with connections to folks like Peter Thiel and Alex Karp. Time to get to work! 🇺🇸 The Technology Sector has new partners to work with and our companies and people continue to be the best in the world. Long the West! — Christian Garrett (@CGarrett_15) November 4, 2026 It’s not all sunshine and roses for Democrats. Many lefties on social media became frustrated Wednesday morning after soon-to-be House Speaker Hakeem Jeffries went on MSNOW to insist that Dems didn’t win just to get revenge. "The American people don't want us to get even; they want us to get things done on their behalf."House Minority Leader Hakeem Jeffries, who is now poised to become the next House Speaker, says that Democrats will focus on affordability concerns and not retribution after their midterm wins. — MS NOW (@ms.now) 2026-11-04T13:01:08.240Z Jeffries may just be responding to the tech and defense industry donors who still tossed a little money his way. Anduril CEO Brian Schimpf donated $100,000.Palantir’s Mehdi Allhassani donated over $44,000. Lockheed Martin, Northrop Grumman, Raytheon, Boeing, and General Dynamics all gave Jeffries $10,000 each. The list goes on. Exit polls underscored Americans’ growing skepticism of AI. According to NBC News, 57% of voters said AI would do more harm than good for society, compared with just 24% who said it would do more good than harm. Meanwhile, a whopping 76% said they would oppose the construction of a data center in their community. What will tech leaders take away from these results? Probably that the people are wrong and need to be ruled with a tighter grip. They’ll continue to buy up media outlets and make an effort to shape the public discourse to their will. But Republicans are certain to be at least a little nervous about the investigations that could be coming for folks like Elon Musk. “This is stuff out of like the Fidel Castro’s Cuba” As election results began trickling in Tuesday night, Ted Cruz appeared on the All-In livestream, where he seemed terrified by the prospect of tech oligarchs being held accountable in the event of a Democratic sweep. “The Democrats have already foreshadowed that if they have one or both houses, they’re going to use subpoenas to go after business executives who’ve worked with the president, to go after Elon Musk,” said Cruz. “They’ve already declared they intend to engage in lawfare and in open attacks. Bernie Sanders has suggested nationalizing, seizing SpaceX and Starlink. This is stuff out of like the Fidel Castro’s Cuba that they’re talking about,” the senator insisted. There was absolute joy emanating from certain parts of the internet Wednesday, with more than a few people ready to get revenge. “It’s a pretty jarring day waking up and seeing last night’s election results,” one X user wrote. “If you’re someone who still believes in President Trump, I’m sure you’re feeling concerned and maybe even a little scared. So let me make this clear: We are going to eat you.” Another joke referenced the 2024 movie Civil War, directed by Alex Garland, which received some criticism when it was released for having a seemingly implausible alliance between California and Texas. You all owe Alex Garland an apology pic.twitter.com/LBs29HBgCK — Sprat (@RealSprat) November 4, 2026 What’s left? There are places where the votes are still being counted. The battle for who will win the U.S. Senate race in Mississippi is ongoing as of this writing, with 96% of the votes counted. Democratic nominee Scott Colom is barely ahead at 48.95% compared to Republican Cindy Hyde-Smith at 48.94%. Colom has 462,821 votes versus Hyde-Smith’s 462,778 votes, a difference of just 43 votes. The third-party Independent candidate Ty Pinkins has 2% of the vote with 19,935 votes, according to the Associated Press. The votes in California for Prop 40, the so-called billionaire tax, are also still being counted, but it’s not looking good for those who supported the one-time tax of 5% on all wealth above a billion dollars. The vote is currently 55% against and 44% in favor, according to the AP, with 60% of the votes counted. Alaska is also still undecided, with Democratic Senate candidate Mary Peltola currently at 48.2% (102,701 votes) compared to Republican Dan S. Sullivan’s 47.9% (102,075 votes). Seventy-four percent of the votes have been counted in that race, according to the AP.