Tech investor David Sacks says 'Biden was always a puppet' for Democratic Party

Biden's performance prompted calls for him to step down as the Democratic Party's presumptive 2024 nominee

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Tech investor David Sacks delivered an impassioned diatribe in the wake of Thursday's presidential debate, declaring it revealed that the Democratic Party is propping up President Biden as a "puppet" to advance the party's interests.

Sacks, the co-founder of venture capital firm Craft Ventures who recently announced his support for former President Trump, made the remarks during an episode of "The All-In Podcast" that was released Friday after Biden's dismal debate performance spurred calls for him to drop out of the race over concerns about his age and competency. Democratic leaders have defended President Biden in the wake of the debate and pushed back against calls for him to be replaced as the party's nominee.

Sacks said Biden's performance exposed that the Democratic Party has been supporting Biden as a figurehead to deflect attention from party members' goals of using political clout to funnel power and money to allies.

"The Democratic Party is a collection of interests who want to remain in power. The Democratic Party is the party of government," Sacks said. "Its goal is to allocate money and power from the government to the collection of interests who back the Democratic Party. In other words, it's basically a collection of interests who want to loot the Republic."

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President Biden's debate performance prompted calls for him to step down as the Democratic Party's presumptive nominee, though party leaders have supported him in the wake of the debate. (Christian Monterrosa/AFP via / Getty Images)

"Well, obviously no one's going to vote for that. So they have to make it about something else. They choose a figurehead, they talk about how this is about saving democracy. They basically invent, hoax after hoax, lie after lie to basically maintain their power," he continued.

"And I think what's happened is, the mask has come off, the whole shell game has been revealed. It's obvious that Biden was always a puppet for these interests who were hiding behind him. And now, it's all being exposed," Sacks said.

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David Sacks said President Biden is a "puppet" and "figurehead" for the Democratic Party. (Beck Diefenbach / Reuters)

Earlier this month, Sacks announced his endorsement of Trump and held a fundraiser at his home in San Francisco with podcast co-host Chamath Palihapitiya that raised about $12 million for Trump's campaign. Tickets to the fundraiser cost $50,000 per person and participants could spend up to $500,000 per couple for special access and a photo with Trump.

Sacks had previously signaled his support for Trump during a March meeting in Washington, D.C., with Sen. JD Vance, R-Ohio, and Donald Trump Jr., the former president's eldest son.

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Sacks hosted a fundraiser for Trump's campaign that raised $12 million. (Josh Edelson/AFP via / Getty Images)

The day of the fundraiser, Sacks publicly endorsed Trump and said in a post on X, formerly Twitter, "I give to many, but endorse few. But today I am giving my endorsement to our 45th President, Donald J. Trump, to be our 47th President. My reasons rest on four main issues that I think are vital to American prosperity, security, and stability – issues where the Biden administration has veered badly off course and where I believe President Trump can lead us back."

Sacks explained that "the voters have experienced four years of President Trump and four years of President Biden. In tech, we call this an A/B test."

"With respect to economic policy, foreign policy, border policy, and legal fairness, Trump performed better. He is the President who deserves a second term," Sacks wrote.

Previously in the 2024 election cycle, Sacks supported Florida Gov. Ron DeSantis for the Republican nomination and co-hosted the governor's campaign launch event on Twitter Spaces before the platform was rebranded by Elon Musk. The launch event was delayed for nearly 20 minutes due to technical issues that arose when over 600,000 listeners tuned in, according to Musk.

Fox News' Paul Steinhauser contributed to this report.