Marc Andreessen, general partner of Andreessen Horowitz, has raised concerns about what he describes as “Chokepoint 2.0,” a strategy targeting political opponents and tech startups through de-banking and economic pressure. Andreessen shared his views on The Joe Rogan Experience podcast on November 26.
“Chokepoint 2.0 is primarily against their political enemies and then to their disfavored tech startups,” said Andreessen. “We’ve had, like, 30 founders debanked in the last four years. There’s no due process. None of this is written down. There’s no rules, there’s no court, there’s no decision process, there’s no appeal.”
According to CCN, Operation Chokepoint 2.0 is an alleged initiative by U.S. government agencies aimed at restricting banking services for cryptocurrency and certain tech industries. This effort is perceived as a continuation of the original Operation Chokepoint, which targeted industries such as payday lending and firearms dealers by pressuring banks to sever ties, thereby limiting these businesses’ access to financial services.
Andreessen explained that Chokepoint 2.0 is enforced through informal government pressure rather than formal legislation or regulation. He said on the podcast, “There’s no due process. None of this is written down. There’s no rules, there’s no court, there’s no decision process, there’s no appeal.” He described this exercise as “raw administrative power,” which allows government agencies to pressure banks into compliance without accountability or transparency, leaving businesses defenseless.
In a post on X (formerly Twitter), Tesla CEO Elon Musk responded to a clip from The Joe Rogan Experience featuring Andreessen by saying, “Did you know that 30 tech founders were secretly debanked?” During the podcast discussion, Andreessen mentioned that “We’ve had, like, 30 founders debanked in the last four years,” highlighting the impact of Chokepoint 2.0 on tech startups and individuals.
Custodia Bank CEO Caitlin Long also commented on her company’s experiences with being “debanked repeatedly” and referenced ongoing legal action against the Federal Reserve. She posted on X: “Keep an eye on our pending lawsuit against the Fed. Oral argument is scheduled for January 21.” Long’s remarks align with discussions surrounding Chokepoint 2.0 and its effects on financial access for lawful businesses.
According to information from the Andreessen Horowitz website, Marc Andreessen is a co-founder and general partner at the venture capital firm Andreessen Horowitz. He co-created the Mosaic internet browser and co-founded Netscape, which was sold to AOL for $4.2 billion. Additionally, he co-founded Loudcloud (later rebranded as Opsware), which was sold to Hewlett-Packard for $1.6 billion. Andreessen holds a Bachelor of Science degree in computer science from the University of Illinois at Urbana-Champaign and has served on several boards including Hewlett-Packard (2008–2018) and Meta Platforms Inc., as well as several companies within the Andreessen Horowitz portfolio such as Coinbase, Samsara, and Flow.
