Netflix co-founder Reed Hastings urges Biden to step aside, becoming one of the initial Democratic megadonors to do so

Reed Hastings, the co-founder of Netflix, recently made headlines by publicly calling for President Joe Biden to step down. This move has sparked a conversation among Democratic donors, especially those from Hollywood, about the future of the party and the upcoming 2024 election.

At a talk during the Aspen Ideas Festival, Ari Emmanuel, CEO of Endeavor, expressed frustration with the idea of a president as old as Biden, who is 81, running for re-election. This sentiment was echoed by Hastings, who criticized the lack of an “end date” for presidential candidates set by the Founding Fathers.

Hollywood has been a significant source of support for Biden, with star-studded fundraisers raising millions for his campaign. However, Hastings’ public stance has raised questions about whether other major donors will follow suit and call for Biden to step aside.

The concerns expressed by Hastings reflect a broader unease among some Democratic donors following Biden’s lackluster debate performance against Trump. Reports from anonymous donors suggest that Biden’s struggles in communication extend beyond the debate stage, with claims that his team restricts interactions with donors.

In response to the growing criticism, Biden’s campaign team has been working on damage control efforts to reassure donors and voters of the president’s fitness for office. Despite calls for Biden to step aside, not all donors agree with Hastings. Some, like Noah Mamet, continue to show unwavering support for the president, emphasizing the importance of rallying behind Biden to secure a victory in the upcoming election.

Hastings, known for his significant contributions to the Democratic Party, has donated millions over the years. He and his wife have been notable supporters, with substantial donations made to support Biden in both the 2020 and 2024 campaigns.

As the debate over Biden’s candidacy continues within Democratic circles, the party faces a crucial moment in navigating the path forward for the 2024 election. The differing opinions among major donors highlight the complex dynamics at play as the party prepares for the upcoming political landscape.