"This is a test for MAGA types and the populist right to see whether they allow themselves to be lied to flagrantly by elites trying to manipulate them," Drop Site's Ryan Grim wrote in response to Andreessen's comments. "The CFPB put out a legitimately good rule that went after banks over debanking users based on political views. Yes, a populist left-wing CFPB head stood up for the rights of conservatives."

"Now VCs and Musk, who don't like the CFPB for other reasons, are straight up lying to whip people into a frenzy and defang the CFPB," Grim added. "The message: They think you are stupid and can't read and are going to make your life worse in order to enrich themselves."