A report highlighted the poor performance of several candidates backed by wealthy technology executives and investors during the 2026 U.S.primary elections.

Despite receiving substantial financial support from Silicon Valley donors, a number of candidates advocating policies favorable to the technology sector failed to gain voter support.

One of the most notable losses was San Jose Mayor Matt Mahan, a former startup executive who raised tens of millions of dollars through his connections in the technology industry but quickly conceded defeat in California's gubernatorial race after receiving only a small share of the vote.The trend extended to congressional contests as well.Entrepreneur Ethan Agarwal lost decisively to Representative Ro Khanna, who has supported proposals to increase taxes on California billionaires.Venture capitalist Eric Jones also finished well behind incumbent Representative Mike Thompson in Napa County.

Political strategists cited these outcomes as evidence that close ties to Silicon Valley and major technology donors may increasingly become a political liability.

According to advocates and campaign observers quoted in the report, many voters are seeking candidates who appear more connected to local communities and less aligned with the interests of wealthy technology leaders.Opposition to technology-related projects, particularly large data centers, has become a growing political issue in several regions.The article also notes that similar sentiments are emerging outside California.

In Iowa, Republican businessman Zach Lahn reportedly achieved an upset victory after campaigning against the expansion of data centers and proposing higher taxes on companies seeking to build them.

Political insiders argued that some technology megadonors underestimated the complexity of electoral politics and overestimated the influence of campaign spending, leading to disappointing results for their preferred candidates.