Ritika Janiya
In recent elections, Silicon Valley’s tech elites, many of whom are well-known for their conservative views, saw significant victories both at the national level and locally in California. These victories came after they threw their support behind Donald Trump and other conservative causes, as well as political measures aimed at reshaping local government policies.
Elon Musk, the CEO of Tesla, was one of the most prominent figures celebrating the outcome of the election. On election night, Musk spent time with Donald Trump, who was hosting a victory celebration at his Mar-a-Lago estate in Florida. Along with Musk, other powerful tech figures such as venture capitalists Marc Andreessen and Joe Lonsdale, as well as executives from Peter Thiel’s venture fund, also celebrated Trump’s win. Many of these individuals have long been advocates of what they call a more “anti-woke” approach and fewer regulations for the tech industry.
David Sacks, another well-known investor in the tech world, also joined the celebrations at Mar-a-Lago. He is known for his work with Musk, as well as his investment in other startups, and is a strong supporter of Trump’s political vision. For some of these tech leaders, Trump’s victory was a personal success, as they see him as an ally who understands their goals and values. They also consider Trump’s circle of advisors and allies to be made up of “some of the most effective people on the planet,” a sentiment shared by Lonsdale, who co-founded the America political action committee with Musk.
The support for Trump among Silicon Valley’s powerful figures has been growing over the years. Rob Lalka, a professor at Tulane University, points out that many of these individuals have worked together for a long time, pooling their resources and time to support causes they believe in. This effort to back Trump is not just about the 2024 election; it is part of a larger trend that aims to push the Republican Party toward libertarian ideals and away from traditional conservatism.
Musk and his allies in Silicon Valley see Trump’s win as a chance to push for policies that would benefit the tech industry. Musk himself tweeted his thoughts on why Trump won, highlighting the effectiveness of Trump’s campaign compared to that of Vice President Kamala Harris. Musk praised the way Trump connected with voters, calling it a reflection of a deeper understanding of the country’s political landscape.
If Trump remains in office, Musk expects to be given a prominent role in his administration. Trump has already announced plans to appoint Musk to lead a government efficiency commission, which would focus on cutting costs and streamlining government operations. Musk has expressed his belief that government spending should be reduced, and has suggested transitioning some government workers to private sector jobs where they could contribute to industries like manufacturing.
In addition to Musk’s political ambitions, many of Silicon Valley’s top investors and executives are also eager to see changes in the way big tech companies are regulated. One key issue for these individuals is the leadership of Lina Khan at the Federal Trade Commission (FTC). Khan has been pushing for antitrust investigations into major tech companies like Google, Amazon, Meta, and Apple. Musk and other tech leaders have voiced their support for the idea of removing Khan from her position, hoping that a new leadership at the FTC would lead to a more favorable environment for tech companies.
However, not all tech industry executives share the same enthusiasm for a Trump presidency. Parker Conrad, the CEO of payroll software company Rippling, expressed concern that many tech leaders were overly optimistic about what a Trump administration would deliver. Conrad argued that some people mistakenly believe Trump will create a tech-friendly environment, but he warned that they may be disappointed by the reality of his policies.
While the national election captured most of the attention, several Silicon Valley investors and executives also focused their efforts on local races in California. In particular, they pushed for candidates and measures that would bring about more moderate policies in cities like San Francisco. Over the past few months, tech executives have spent millions of dollars backing moderate candidates for mayor and the Board of Supervisors. Their aim was to unseat more progressive politicians in favor of candidates who they believed would prioritize business interests and make San Francisco more friendly to the tech industry.
One of the groups leading this effort was GrowSF, a political action group made up of tech executives from companies like Apple, Google, and Amazon. GrowSF has long advocated for what it calls “common sense” candidates, and it supported Daniel Lurie, an heir to the Levi Strauss fortune, in the race for San Francisco mayor. While the final vote count is still ongoing, the group was optimistic about the outcome, calling it a victory for moderates in the city. Other candidates backed by GrowSF also appeared to be on track to win seats on the Board of Supervisors.
However, not all the efforts of Silicon Valley’s political action groups were successful. Together SF, another group aligned with tech executives, had backed Mark Farrell for mayor, as well as a controversial ballot measure known as Proposition D. Proposition D would have reduced the number of commissions in San Francisco and given the mayor more control over city decisions. Unfortunately for the group, this measure appeared to be on track to fail, despite receiving a record amount of funding.
