Several Silicon Valley venture capitalists celebrate Trump’s return to the Oval Office. Prominent venturists like Elon Musk, Shervin Pishevar, and Peter Thiel helped provide significant financial support for Trump’s win.
The tech industry is expecting several regulatory changes and the assistance of accelerating innovation under Trump’s second presidency. Tech venturists are excited to see the changes that may happen after Trump’s election.
Background and Major Supporters
Key Silicon Valley Trump supporters were Shervin Pishevar, Peter Thiel, Marc Andreessen, and Elon Musk, who backed the now-president’s claims to support the tech industry. They have contributed significant donations and fundraising events to the Trump campaign, including Pishevar and David Sacks’s event that raised $12 million.
VCs like Stephen DeBerry were in opposition to Trump supporters. DeBerry has backed Kamala Harris in previous elections.
Anticipated Regulatory Shifts
Teach leaders are expecting reduced regulation constraints under Trump. Shervin Pishevar, a Trump-supporting VC, said, “I think there’s going to be a renaissance of innovation in America, and we’re going to do more in four years than we’ve done the last 40 years.”
VCs felt like past Democratic policies such as taxation, overregulation, and antitrust law stifled technological growth. Pishevar comments on tech’s lack of growth in the last four years. “It’s been stalled the last four years. VCs have had difficulty raising capital, and I think things are going to change. We’re really excited about those changes,” he says.
He expects the tech field to grow rapidly under Trump’s presidency. He believes the ease of capital raising will significantly contribute to companies’ growth.
Tariff Policy and Its Economic Impact
Trump has proposed a tariff policy of 10% to 20% on imports and up to 100% on Chinese goods. He aims to increase the circulation of American-made goods.
Tech leaders have expressed concern with this policy. Many tech companies utilize Chinese supply chains, and the tariff policy could increase consumer costs.
DeBerry comments on the immediate impact these tariff policies can have on businesses that rely on international goods. He feels the increased production price will ultimately fall on consumers rather than businesses.
Market Response and Financial Gains
Wall Street responded immensely favorably to Trump’s presidential victory. Major tech stocks, including Nvidia and Tesla, saw significant price jumps. Tesla experienced a 15% price increase.
Elon Musk’s financial gains from Tesla’s stock surge and his rising influence in the political sector. “I think America needs to be run like a startup,” Pishevar adds to speculation of Musk’s growing political influence. Musk has donated over $130 million to the Trump campaign and has been praised by Trump as a “super genius.”
Musk has shared his idea to implement a “Department of Government Efficiency” (DOGE). In a New York City Trump rally, Musk advocated for the government to receive less tax money from citizens.
AI Development and Trump’s Approach
Trump has not commented directly about AI, but Musk has long advocated for its regulation. Pishevar believes, “AI is going to accelerate so fast we’re going to reach AGI or super intelligence within the next two to three years.”
“I think there will be Manhattan projects for AI, quantum computing, biotech,” Pishevar adds. VCs advocating for Trump believe significant tech changes are incoming.
Industry Division and the Vision for Society
“If we can come to a consensus that we actually care about building a great society, then I’m excited in that context,” DeBerry says about Trump’s victory. He believes “the question isn’t about technology. The question isn’t about economic capability. The question is about our will.”
Silicon Valley technologists are divided about Trump’s presidency but remain committed to technology’s ability to change society.
Silicon Valley remains divided about Trump in the office. Many anticipate Trump’s second term and its impact on innovation and the economy.
