Sacks predicted that the late‑May 2024 Silicon Valley Trump fundraiser would “break the ice” and trigger a preference cascade in which high‑profile business and finance figures would start openly backing Trump, making such support more acceptable in elite circles.

Evidence from the 2024 cycle shows exactly that pattern:

• Within days, David Sacks and Chamath Palihapitiya’s San Francisco fundraiser for Trump (early June 2024) raised about $12 million and drew dozens of prominent tech investors. Jacob Helberg, a former Democratic fundraiser who himself donated about $1 million to Trump, said that in 2016 he knew only one Silicon Valley Trump supporter (Peter Thiel) but by mid‑2024 he counted them “in the dozens” and described the prior six months as seeing “the dam break.”(cnbc.com) In a separate interview he noted that “the social cost of supporting Trump isn’t as great as it was” and called himself one of a “cadre of high‑powered Silicon Valley businessmen” newly warming to Trump.(dailywire.com) That is precisely the dynamic Sacks forecast.

• A dedicated Trump super PAC, America PAC, was founded by Elon Musk in 2024 with backing from multiple high‑profile tech investors including Joe Lonsdale, Tyler and Cameron Winklevoss, Ken Howery, Shaun Maguire, and Antonio Gracias—an organized cluster of Silicon Valley and crypto‑aligned business elites publicly financing Trump’s bid.(en.wikipedia.org) Separately, Trump’s main super PAC, MAGA Inc., saw very large checks from billionaire financiers Timothy Mellon, Diane Hendricks, Howard Lutnick, and Paul Singer in mid‑2024, including Mellon’s $50 million contributions in both May 31 and July, underscoring strong, visible support from the financial elite.(en.wikipedia.org)

• Several very prominent business figures who had been Democrats or non‑Trump Republicans made public pro‑Trump moves after this period:

  • Elon Musk, by early 2024 already leaning right, formally endorsed Trump minutes after the July 2024 assassination attempt and went on to become the single largest individual donor of the 2024 election, giving roughly a quarter‑billion dollars in support of Trump and allied efforts.(en.wikipedia.org)
  • Bill Ackman, a long‑time Democratic donor who had backed Dean Phillips and RFK Jr. earlier in the cycle, publicly endorsed Trump on July 13–14, 2024, in widely covered posts on X, explicitly framing it as a careful, data‑driven choice.(investing.com)
  • Marc Andreessen and Ben Horowitz, co‑founders of Andreessen Horowitz and historically Democratic donors, announced on their own podcast and in a TechCrunch‑covered statement on July 16, 2024, that they would support and vote for Trump, citing tech and crypto policy as reasons.(techcrunch.com)
  • Thomas Peterffy, a billionaire who had previously said he would not fund Trump, reversed course and in August 2024 both attended a high‑dollar Aspen fundraiser for Trump and contributed hundreds of thousands of dollars after giving nothing to Trump earlier in the cycle.(en.wikipedia.org) Together with other financiers such as Scott Bessent—an ex‑Democratic donor turned seven‑figure Trump fundraiser—this represents exactly the “flipping” of business and finance leaders Sacks anticipated.(en.wikipedia.org)

• Compiled endorsement lists for Trump’s 2024 campaign show a substantial roster of named CEOs, founders, hedge‑fund managers, and crypto leaders in the finance and technology categories, including Musk, Ackman, Andreessen, Charles Hoskinson, Thomas Peterffy, Joe Ricketts, the Winklevoss twins, and others.(en.wikipedia.org) Post‑election commentary by Bill Gates explicitly notes the emergence of a “significant right‑of‑center group” of tech leaders—he specifically names Musk, Sacks, Thiel, Patrick Collison, Horowitz, and Andreessen—who had backed Trump in 2024, emphasizing how unusual this was given Silicon Valley’s historic Democratic tilt.(nypost.com)

At the same time, many corporate leaders continued to back Democrats (especially Kamala Harris once she became the nominee), and some high‑profile Republicans on Wall Street, like Ken Griffin, remained outspoken Trump critics or sat the race out.(en.wikipedia.org) But Sacks did not predict that elite support would be monolithic—only that there would be a noticeable cascade and that open Trump support would become more acceptable in elite business circles.

Given:

• the rapid sequence of highly visible endorsements and mega‑donations from new or previously reluctant business and finance leaders after the late‑May / early‑June 2024 fundraiser,
• explicit contemporary descriptions of a “dam break” in Silicon Valley Trump support and a reduced social cost to backing him,
• and subsequent recognition that a sizable, coherent pro‑Trump faction had emerged among tech and financial elites,

Sacks’s prediction that the fundraiser would be followed by a noticeable preference cascade of elite business and financial support for Trump during the 2024 cycle is best judged as right.