Silicon Valley’s champion just lost a key leadership race in the House

Rep. Anna Eshoo (D-CA) -- who represents California's 18th district, which includes Palo Alto and Mountain View, where Facebook and Google are headquartered -- won't be the top Democrat on the House Commerce Committee in the new Congress. And that's bad news for Silicon Valley.

She narrowly lost her bid to succeed Rep Henry Waxman (D-CA), who's retiring, as the ranking member. By a 100-90 vote, House Democrats voted instead for Frank Pallone (D-NJ), who has been in Congress longer than Rep Eshoo.