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LinkedIn's Reid Hoffman says Trump is worse than he feared

President Donald Trump's administration is worse than feared, LinkedIn co-founder Reid Hoffman said Wednesday at the Code Conference.

"By trying to elevate his own TV ratings through "America First" ideology, he is breaking our alliances and global leadership," Hoffman said.

Hoffman singled out Trump's refusal to sign the Trans-Pacific Partnership trade deal and the events of Trump's first foreign trip.

"It's unprecedented in the post-World War II era to have the leader of Germany say, 'Oh we can't rely on America anymore,'" Hoffman added. Reports surfaced on Wednesday that Trump will withdraw from the historic Paris Climate accord. (Hoffman recently made a $30 million investment in petition website Change.org.)

Hoffman, who is also a partner at venture firm Greylock, weighed in on the improving IPO market.

"One of the things that I have been a little worried about is that there has been a longer trend for companies staying private a lot longer. I think there's a good public benefit and some good public accountability for IPOs not being super deferred," he said. "So, I think the opening of the IPO market is good."