As President Donald Trump takes office for his second term, the tech industry is flexing its muscles, spending hundreds of millions of dollars to buy influence and avoid regulation. The likes of Elon Musk, Jeff Bezos, and Mark Zuckerberg are reportedly attending Trump's inauguration, with some even securing office space in the Eisenhower Executive Office Building next to the White House.
The tech giants are looking to capitalize on their investments, with Musk, Bezos, and Zuckerberg, the three wealthiest men on Earth, seeking to shape policy to their advantage. Musk, in particular, has been vocal about his desire to influence Trump's administration, having spent at least a quarter of a billion dollars to elect him. Corporations and wealthy donors have sent half a billion more since he was elected, with Amazon, Google, Uber, Microsoft, and Meta donating $1 million each to Trump's inauguration.
The crypto industry is also spending big, with some donors giving as much as $10 million or $20 million to secure a friendly Securities and Exchange Commission. Venture capitalist and PayPal co-founder David Sacks has already been named as a "crypto czar," and a pending executive order is expected to name crypto "a national imperative or priority." This could lead to a higher likelihood of crypto being used in new government projects, whether useful or not, and soft-pedaling enforcement of criminal industries that rely on it.
The tech industry is also looking to benefit from mass privatization, which could make things even more profitable for them. Data and research are obvious areas of interest, but Musk's criticisms of the F-35 program suggest a broader targeting of military investment. This could lead to greater investment in drones, for instance, benefiting Anduril, and potentially even missiles, given SpaceX's existing rocket technology.
However, the interests of these tech giants do not align, and their efforts to influence Trump's administration could lead to a messy and competitive landscape. Zuckerberg, for example, is the biggest beneficiary of a TikTok ban and has practically begged Trump to punish Apple for him. Apple, meanwhile, is dependent on Chinese manufacturing and needs exemptions from the Trump administration's promised tariffs.
The selective legal enforcement that comes with keeping Trump happy could be expensive, but cheaper than legal battles. This puts every company under a sword of Damocles, where one wrong move could lead to severe consequences. The Supreme Court's upholding of the TikTok ban, despite Trump's apparent willingness to punish the company, is a prime example of this.
Critics argue that this level of influence-buying and corruption makes life tangibly worse for everyone who isn't a billionaire. Tech companies, padding their bottom lines, have made their experiences worse for consumers, with scandals ranging from scams to child predation, worker exploitation, and violations of user privacy. Trump's administration has offered tech a way to buy itself out of consequences, allowing even more rottenness to fester in secret.
In conclusion, the tech industry's efforts to buy influence and avoid regulation under Trump's administration raise serious concerns over corruption and the impact on consumers. As the industry continues to flex its muscles, it remains to be seen how this will shape policy and affect the lives of everyday Americans.