Marking the emergence of a new, potentially dominant political force

President Obama’s San Francisco fundraiser with the tech elites today, along with the upcoming IPO for Facebook, marks the emergence of a new, potentially dominant political force well on its way to surpassing Hollywood and even Wall Street as the business bulwark of the Obama Democratic Party.

In 2008 the industry gave Obama more than $9 million, three times what it raised for any other politician; it was the first time the digerati outspent Hollywood. The numbers will surely go up this year.

"The Facebook instant millionaires and billionaires are about all Democrats," said Morley Winograd, a longtime California Democratic activist and chronicler of information-age politics. "There’s an enormous amount of power residing there–and it will only get greater."

Joel Kotkin

Full Story: http://www.newgeography.com/content/002675-president-obama-courts-silicon-valley%E2%80%99s-new-digital-aristocracy