While Elon Musk enjoyed his election victory with Donald Trump at Mar-a-Lago, Silicon Valley moguls were focused on the election results. Venture capitalists and executives celebrated Trump’s victory, anticipating a more tech-friendly regulatory environment. Some tech investors, including David Sachs and Palmer Luckey, joined in the celebrations.
This victory was personal for many, as they have close ties to Trump and his administration. The tech industry’s support for Trump reflects their influence in promoting libertarian ideals and reshaping the conservative landscape.
Trump’s second term is expected to bring changes in government agencies, with potential job cuts. Musk’s proposed Government Efficiency Commission would aim to reduce spending and streamline operations.
While some tech leaders support Trump’s presidency, others are skeptical. Parker Conrad, CEO of Rippling, believes that people’s expectations of Trump aligning with their interests are misguided.
Besides national races, tech executives are also involved in local politics, investing in moderate candidates in San Francisco. Groups like GrowSF are influencing local policy and celebrating victories in mayoral and supervisor races.
However, not all tech organizations saw success, with proposals like Prop. D facing defeat. Despite significant financial contributions, some ballot measures did not achieve the desired outcomes.
Explore more of the Guardian’s coverage of the 2024 US election
Source: www.theguardian.com
