Elon Musk and Vivek Ramaswami are “high-IQ small-government revolutionaries” who are calling on Americans willing to work 80+ hours a week to join their new Ministry of Government Efficiency for no pay.
In a recent X post, which also served as an announcement of his appointment and a playful jab at Mr. Musk, the newly appointed president’s account stated: We are seeking ultra-high IQ small-government revolutionaries who are ready to work over 80 hours a week to bring costs down to earth.”
The department, not associated with the federal government, bears a resemblance to the popular Shiba Inu meme.
“If this sounds like you, please DM this account with your resume. Elon & Vivek will evaluate the top 1% of applicants,” the statement added.
Musk reiterated the call in another post, stating: “Yes, this may be a mundane job. You will make plenty of adversaries and receive no compensation.”
“How delightful!” Musk, the wealthiest person in the world, wrote with a laughing emoji. He pledged to reduce federal bureaucracy by a third and decrease U.S. government spending by $2 trillion, but acknowledged that the process “will inevitably involve temporary challenges.”
Earlier this week, President Donald Trump announced the appointment of Musk and Ramaswamy as president, emphasizing that they will lead efforts to streamline government bureaucracy, reduce excessive regulation, eliminate wasteful spending, and overhaul federal agencies. This is crucial to the “Save America” movement.
President Trump described the newly formed department as a “modern-day ‘Manhattan Project,'” likening it to the U.S.-led research program during World War II aimed at developing a nuclear bomb, which he noted came at a human cost. Estimation [Japan’s population in 1945 was 214,000].
Since the first attempt on Trump’s life in July, Musk has emerged as one of the president’s most devoted supporters, at one point dubbing himself a “Dark Maga” during the campaign. He contributed $120 million to the president-elect’s campaign, hosted rallies in Pennsylvania, and vigorously promoted Trump’s message on X.
Following Trump’s re-election, Musk shared an edited photo of himself holding a sink in the Oval Office, with text that read “Please sink.”
This image recalls a promotional campaign from October 2022, shortly after Musk sealed a $44 billion deal to acquire X (formerly Twitter). Musk entered the headquarters carrying Sink. According to new estimates from Fidelity, X’s value has dropped nearly 80% since Musk’s acquisition two years ago.
DDonald Trump’s resounding victory in the 2024 presidential election can be largely attributed to the unwavering support of the richest man in the world. Elon Musk, in the leading months to the election, fully embraced the MAGA movement, stood up for Trump on a significant podcast, and utilized his influence through X to shape political conversations. A staggering amount of around $120 million was injected into the former president’s campaign by Musk. Now, Trump is expressing his gratitude, mentioning that he intends to appoint Mr. Musk as the “cost reduction secretary.” Musk humorously suggested his interest in leading the Department of Government Efficiency (Doge) to slash government spending by $2 trillion. This move could potentially impact Musk’s companies like Tesla, SpaceX, X, and Neuralink directly through deregulation and policy alterations.
Experts foresee a reciprocal relationship where the Trump administration might ease regulations and redirect federal resources in a manner that favors Musk. This transparent and transactional exchange sets a unique precedent in recent U.S. political history, as noted by Gita Johar, a professor at Columbia Business School. The possibility of quid pro quo benefits for Musk has raised concerns about conflicts of interest.
President Trump: “Bad for electric cars, good for Elon”
Although President Trump has been vocal in his criticism of electric vehicles, Tesla’s fortunes surged under his administration. Tesla’s stock price soared by 13% to reach a 52-week high following the announcement of Trump’s endorsement by the Associated Press. This bolstered Musk’s personal wealth by $26 billion, despite Trump’s public skepticism towards environmentally friendly cars and his plans to revoke Biden’s electric vehicle-related mandates.
However, Trump’s stance on EVs softened after Musk extended his support to him, displaying a shift in policy alignment. The potential reduction in tax credits for EV buyers under the Trump administration could adversely affect emerging EV startups and traditional automakers but benefit Tesla, which heavily relies on these incentives.
President Trump, first lady Melania Trump, and son Barron give their victory speech on Tuesday night. Photo: Jim Watson/AFP/Getty Images
Dan Ives, an analyst at Wedbush, highlights Tesla’s advantageous position due to its scale and scope in the EV market, which could provide a competitive edge amidst changing regulatory landscapes. However, the potential implications of Trump’s tariffs on Tesla’s supply chain from China pose significant challenges, especially concerning the production costs and materials sourcing for Tesla’s vehicles.
The Trump administration’s policies could reshape the environment for Musk’s autonomous vehicle ambitions, namely Tesla’s self-driving car rollout, by potentially streamlining regulations and federal approval processes. This could accelerate Tesla’s progress in catching up with more advanced competitors in the autonomous vehicle space.
SpaceX could secure lucrative government contracts for Starlink deployment and Mars missions
SpaceX, Musk’s private space company, stands to benefit substantially from potential government partnerships under the Trump administration. Musk’s alignment with Trump could strengthen SpaceX’s position in securing space contracts, especially with the intensifying competition from other space ventures. The relationship between Musk and Trump could pave the way for SpaceX to capitalize on government contracts for projects like Starlink deployment and Mars missions.
Furthermore, Musk’s engagement with the Trump administration could influence policies favoring SpaceX’s interests, such as with regards to space exploration and satellite internet services. Republican-led initiatives may open doors for SpaceX to expand its services like Starlink, offering new opportunities for government collaboration and funding.
Musk’s push for Mars colonization aligns with Trump’s vision of space exploration and could lead to lucrative government contracts for SpaceX in the realm of interplanetary missions. The collaboration between Musk and Trump on space ventures could mark a new era of space exploration and government partnerships.
Preparing the ground for Musk’s self-driving cars
Musk’s involvement in shaping regulations for self-driving cars, particularly Tesla’s autonomous vehicles, could greatly impact the future of transportation. Trump’s administration may play a pivotal role in streamlining regulations and approval processes for advanced autonomous vehicles, potentially benefiting Tesla’s efforts in the space of self-driving technology.
Experts highlight the importance of regulatory decisions under the Trump administration that could influence Tesla’s autonomous vehicle roadmap, as well as the broader implications for the transportation industry.
Trump’s potential impact on Neuralink and X oversight
Aside from Tesla and SpaceX, Trump’s presidency could affect other Musk-owned ventures like Neuralink and X. Regulatory changes under the Trump administration, particularly at the FDA, could potentially reduce oversight on Neuralink’s brain-computer interface experiments and X’s operations.
Despite concerns about conflicts of interest, Musk’s influence in the Trump administration could shape policies in ways that benefit his businesses. The dynamics of this relationship raise ethical questions about the intersection of business interests and governance in the political landscape.
“The conflict of interest seems pretty strange.”
Elon Musk’s expanding role in American politics and the Trump administration poses unique challenges and opportunities. Musk’s deep pockets and close ties to Trump signal a shift in the traditional power dynamics of politics and business. The potential conflicts of interest inherent in Musk’s involvement in policy decisions underscore the need for greater transparency and accountability in government and corporate relations.
The uncertain future of Musk and Trump’s alliance raises questions about the ethical implications of such relationships and the broader impact on governance and public trust. As Musk continues to navigate the political landscape, his influence and actions will undoubtedly shape the future of technology, business, and politics.
Bitcoin has reached record highs amidst speculation on Donald Trump’s victory in the US presidential election, with many viewing him as a candidate supportive of cryptocurrencies.
The digital currency hit $75,005.08 on Wednesday morning, surpassing its previous peak of $73,797.98 achieved in March.
“Bitcoin’s price seems to be closely tied to President Trump’s standing in the polls and betting markets,” commented AJ Bell analyst Russ Mould ahead of the U.S. presidential election.
Investors believe that a Republican win could lead to increased demand for digital currencies,” he added.
Although Trump previously criticized cryptocurrencies as scams during his tenure, he has since shifted his position and even introduced his own platform for the currency.
Nigel Green from DeVere also stated before the election that “President Trump’s victory could propel the world’s first and largest cryptocurrency to new heights.”
Green added, “If re-elected, there would likely be a focus on deregulation, tax breaks, and economic policies favoring investments like Bitcoin.”
President Trump has vowed to make the United States the “Bitcoin and cryptocurrency capital of the world” and appoint Elon Musk to oversee a comprehensive audit of government spending.
Trump’s corporate tax cuts during his previous term boosted market liquidity and encouraged investment in high-growth assets such as cryptocurrencies.
In September, Trump announced the launch of a digital currency platform named World Liberty Financial with his son and other entrepreneurs, although initial sales were sluggish.
World Liberty Financial provides a lending and borrowing service for cryptocurrencies, akin to platforms like Aave.
Since their inception, cryptocurrencies have made headlines for extreme volatility and the collapse of major industry players, notably the FTX exchange platform.
Leading up to the election, Trump made a purchase at a New York restaurant, touting it as a “historic transaction” and possibly becoming the first former president to use Bitcoin for a transaction.
“Who wants a hamburger?” Trump exclaimed to his followers in September, shortly after the platform’s launch.
Read more of the Guardian’s 2024 US election coverage
After Donald Trump’s statement this past weekend that he would stop targeting the cryptocurrency industry if re-elected, Bitcoin surged to its highest price in over six weeks.
On Monday, the price of the cryptocurrency increased by more than 3%, reaching a peak of around $69,745, marking its highest value since June 12 when it surpassed $69,800.
Trump made supportive remarks at the Bitcoin 2024 convention in Nashville, Tennessee, declaring his intention to make the United States a global leader in cryptocurrency and adopt a more pro-Bitcoin stance compared to his opponent, Sen. Kamala Harris.
The former president assured the Bitcoin community that if he takes office, the current anti-cryptocurrency initiatives by Joe Biden and Kamala Harris would come to an end. He emphasized the importance of embracing cryptocurrency technology to prevent other countries like China from dominating.
Trump also vowed to remove the chairman of the Securities and Exchange Commission (SEC) on his first day as president, specifically targeting Gary Gensler, who has been critical of cryptocurrencies despite past endorsements.
At the Bitcoin Conference, Trump proposed the creation of a Presidential Cryptocurrency Advisory Council and the establishment of a national Bitcoin reserve using confiscated cryptocurrency held by the U.S. government.
Echoing his support for Bitcoin, Trump advised against selling the cryptocurrency, promising to retain all Bitcoin owned or acquired by the U.S. government if elected.
According to the Financial Times, Harris’ advisors have been reaching out to major crypto companies to mend relations between the Democratic Party and the cryptocurrency industry, including Coinbase, Circle, and Ripple Labs.
circleJD Vance was a student at Yale Law School in 2011 when he attended a talk by conservative tech billionaire Peter Thiel. Vance didn’t know Thiel at the time, but over the next decade he became Thiel’s employee, friend, and recipient of his generosity. Thiel’s millions of dollars paved the way for Vance to become a senator.
Vance wrote that Thiel’s speech “was the defining moment of my time at Yale Law School.” Essays for 2020 Vance said Thiel’s talk about the failure of elite institutions and his Christian faith made him rethink his own faith and quickly planned a career outside of law, perhaps tinkering with technology and venture capital before entering politics.
Vance is best known for the hardscrabble upbringing he described in his autobiography, “Hillbilly Elegy,” but in the years after graduating from Yale he developed extensive ties to Silicon Valley investors and elites. His experience as a venture capitalist combined with his status as a rags-to-riches media fixture forged the core connections that powered his political climb and helped him assemble an influential following that pushed him to become Trump’s running mate.
After graduating from Yale and briefly working in corporate law, Vance moved to San Francisco and joined Thiel’s venture firm, Mithril Capital, in 2015. After his best-selling book “Hillbilly Elegy” gained him national fame in 2016, he joined Revolution, a venture capital firm founded by former AOL CEO Steve Case.
Vance returned to Ohio and stayed in the tech venture capital world. Leaving the Revolution Vance received funding from Thiel in early 2020 to co-found a venture firm, Naria Capital, which, like Thiel’s, was named after the elven ring of power in “The Lord of the Rings.” Naria’s other notable investors include former Google CEO Eric Schmidt and Marc Andreessen, the venture capitalist who endorsed Trump last week. The avowed goal of Vance’s firm was to invest in early-stage startups in cities that Silicon Valley often overlooks.
In 2021, Naria Capital led a group of conservative investors, including Thiel, to invest in Rumble, a video streaming platform positioning itself as a less moderated, right-leaning version of YouTube. Naria co-founder Colin Greenspon touted the investment as a challenge to Big Tech companies’ control over online services, a topic conservatives have frequently discussed amid the backlash against content moderation surrounding the pandemic and the 2020 presidential election. It was also around this time that Thiel, a major financial backer of Trump during the 2016 campaign, invited Vance to meet with Trump for the first time, in a secret meeting at Mar-a-Lago in February 2021. According to the New York Times:.
Vance and Thiel’s longtime relationship also paid dividends in the 2022 Senate race, with Thiel pouring a massive $15 million into Vance’s campaign. According to the Washington Posthelped garner support for President Trump and led Vance to win the fiercely contested Republican primary and Senate elections.
While Thiel has vowed in recent years to stay away from donating to the 2024 election, Vance has since tried to ingratiate himself with Trump through other Silicon Valley connections. The Ohio senator introduced prominent venture capitalist David Sachs to Donald Trump Jr. in March. The New York Times reported.Vance attended a pro-Trump fundraiser for Sachs in June, which he co-hosted with Chamath Palihapitiya, Sachs’ co-host on the popular podcast “All In.” The event, which cost $300,000 to attend, was held at Sachs’ San Francisco mansion, where investors thanked Vance for helping make the fundraiser happen. During an informal conversation at the dinner, Sachs and Palihapitiya said Trump said: Vance as his running mate.
Sachs spoke at the Republican National Convention on Monday, days after calling Trump to endorse Vance as his running mate, along with Elon Musk and former Fox News host Tucker Carlson. According to AxiosThiel also voiced his support for Vance during a private phone call with Trump, according to The New York Times. After Trump confirmed Vance would be his running mate, Sachs and Musk tweeted their congratulations, with Musk saying the victory was “ringing off.”
Many of Vance’s wealthy tech elite and venture capitalist backers now appear ready to offer even more concrete support. Investors including Musk, Andreessen, and Thiel’s Palantir co-founder Joe Lonsdale have ReportedlyPlanning a donation Huge sums of money supporting the Trump and Vance campaigns.
Meta has lifted previous restrictions on Donald Trump’s Facebook and Instagram accounts as the 2024 presidential election approaches, the company announced on Friday.
After being banned for his online behavior during the January 6 riot, President Trump was allowed to return to the social network in 2023 with “guardrails” in place. But those guardrails have now been removed.
“In assessing the responsibility of permitting political expression, I believe the American people should be able to hear from presidential candidates with the same standards,” Mehta said in a blog post, alluding to Trump formally becoming the party’s nominee at the Republican National Convention scheduled for next week.
As a result, Mr. Trump’s account will no longer be subject to the harsh suspension, which he said was instituted in response to “extreme and extraordinary circumstances” and “was not necessary to apply.”
“All US presidential candidates are required to follow the same community standards as all Facebook and Instagram users, including policies to prevent hate speech and incitement to violence,” the company said in a blog post.
Since returning to the meta social network, Trump has mainly used his account to share campaign information, attacks on Democratic candidate Biden and memes.
Critics of Trump and online safety advocates have expressed concern that his return could lead to an increase in misinformation and incitement to violence like that seen during the storming of the Capitol, which initially prompted the president’s travel ban.
The Biden campaign condemned Mehta’s decision in a statement on Friday, calling it a “greedy and reckless decision” that amounts to “a direct attack on our security and democracy.”
“Restoring his access would be like giving car keys to someone you know is going to drive his car into a crowd and off a cliff,” campaign spokesman Charles Kretschmer Luttwak said. “It’s like giving a megaphone to a real racist who is going to shout hatred and white supremacy from the rooftops and make it mainstream.”
In addition to the Meta platform, other major social media companies, including Twitter (now X), Snapchat and YouTube, have also banned Trump’s accounts due to his online activity surrounding the January 6 attack.
The former president was allowed to return to X last year following a decision by Elon Musk, who bought the company in 2022, but has yet to tweet.
Trump Came back It is set to appear on YouTube in March 2023. He remains banned from Snapchat.
Trump launched his own social network, Truth Social, in early 2022.
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