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U.S. venture capitalists seem to be gripped by patriotic fervor, with a growing faction urging their peers to back more companies that help the U.S. battle adversaries like China. That’s put other venture capital firms with large China footprints on the defensive, as I reported this week.
The recent bout of nationalism has worried me, as well as some investors I’ve spoken to. For one thing, it could fuel xenophobia in Silicon Valley and enable more discrimination against Asian American entrepreneurs.
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