Silicon Valley elites toast Trump's tech-driven triumph
During the inauguration, the advanced technology and cryptocurrency sectors will be celebrating both Donald Trump's victory and their own, as reported by the "New York Times" on Thursday. American media emphasize that the leaders of Silicon Valley have gained influence over the future of their industry and U.S. policy in general.
During Donald Trump's second-term inauguration, many VIP seats will be occupied by the heads of large technology companies or those investing in the sector. Attendees will include Elon Musk, Amazon's Jeff Bezos, and Apple and Meta's executive directors, Tim Cook and Mark Zuckerberg. Zuckerberg will be one of the four hosts of a grand reception, described in the invitation as a celebration of the inauguration of President Donald J. Trump and Vice President J.D. Vance.
A euphoric tech industry is ready to celebrate Trump and itself, the "NYT" assesses.
Throughout the inaugural weekend, the hosts of the most sought-after parties in Washington will be major donors from Silicon Valley who financially supported Trump's election campaign and now "revel in their new clout," continues the New York newspaper.
Trump "the Crypto President"
On Friday evening, there will be a Crypto Ball sponsored by leaders from the cryptocurrency sector, described in the invitation as a celebration of the "first crypto president."
Prominent figures in the technology sector, such as Musk and billionaire investor Peter Thiel, "are poised to shape not only technology policy but also the broader direction of the nation," comments "Newsweek."
Individuals like Musk, along with tech-investing billionaires Thiel and David Sachs, who backed Trump in the elections, will use their influence on the government's actions and decisions to "secure policy shifts favoring deregulation and aggressive technological innovation."
Thiel, whose protégé is J.D. Vance, has long invested in Trump; it is now believed that Vance will serve as a liaison between the president's administration and the technology sector, the magazine writes. Many other Thiel protégés are being considered as potential candidates for important positions in the government.
Casey Burgat, a professor of political science at George Washington University, believes that some of these tech leaders, such as Bezos and Zuckerberg, are attempting—by "maintaining good relations with a government that has openly threatened their business models"—to prevent the implementation of unfavorable regulations, especially those aimed at combating monopolies.
The high-tech industry currently accounts for about 10% of the U.S. GDP and one-third of the S&P 500 stock index value. It can afford substantial contributions to politicians; entrepreneurs specializing in cryptocurrencies account for nearly half of the corporate donations that fueled the 2024 election campaign through so-called super PACs, and the entire tech sector is now one of the crucial political business sponsors in America.
However, the political ambitions of these businessmen match their generosity. Sector leaders aim to have as much influence in Washington as they do in Silicon Valley, the magazine "The New Yorker" assessed last summer.
