The candidate that Silicon Valley built is now the one they want to tear down | TechCrunch

"Ethan Agarwal, a 40-year-old tech entrepreneur with no political background, told TechCrunch on Monday evening that he is running for California's 17th congressional district. That process is likely to set up what may become one of the most lavishly funded primary challenges of the 2026 cycle."

"Khanna has doubled down, introducing national legislation with Senator Bernie Sanders that would impose a 5% annual wealth tax on all Americans worth $1 billion or more - a proposal their offices estimate would raise $4.4 trillion over a decade."

"When Khanna first ran for this same seat in 2014, he was the tech-backed outsider, with tech names like Marc Andreessen, Sheryl Sandberg and Eric Schmidt supporting him. He challenged popular Democratic incumbent Mike Honda, lost that attempt, but came back in 2016 to win."

Ethan Agarwal, a 40-year-old tech entrepreneur and Wharton graduate, announced his candidacy for California's 17th congressional district against incumbent Representative Ro Khanna. The race is expected to become one of the most lavishly funded primary challenges of 2026, driven by Silicon Valley billionaires opposed to Khanna's wealth tax advocacy. Khanna, a 49-year-old Democrat and potential 2028 presidential candidate, has publicly backed California's one-time wealth tax and co-introduced national legislation with Senator Bernie Sanders proposing a 5% annual wealth tax on billionaires. Agarwal co-founded financial services startup Coterie backed by Andreessen Horowitz. The situation mirrors 2014 when Khanna himself was the tech-backed outsider challenging incumbent Mike Honda, eventually winning in 2016.

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