Tech Billionaires Love Trump Now — Because He’s One of Them
Introduction:
The Republican National Convention in 2024 saw GOP vice presidential candidate J.D. Vance, a former venture capitalist, garnering support from Silicon Valley’s big names. This surprising turn of events challenges the perception of the tech industry as a liberal stronghold. However, the media’s focus on Vance and his Bay Area supporters has overshadowed an essential point: Trump himself is not only attracting tech billionaires but also becoming one.
The Rise of Trump in Silicon Valley:
The early days of Trump’s 2016 campaign owe a debt of gratitude to Peter Thiel, a conservative Stanford tech mogul. Thiel’s support for Trump, despite his unconventional background, paid off handsomely. Thiel’s influence allowed him to arrange a meeting between Trump and Silicon Valley’s biggest names, leading to increased government contracts for tech companies.
Tech Billionaires and Trump’s Policies:
Vanity Fair’s Nick Bilton argues that pro-Trump Silicon Valley leaders prioritize policies that directly impact their bottom lines, such as taxes, regulations, and immigration policies. This alignment of interests explains why tech billionaires are throwing their support behind Trump.
Trump’s Transition into the Tech Industry:
After leaving office, Trump wasted no time in capitalizing on the financial opportunities presented by the tech industry. He ventured into the world of non-fungible tokens (NFTs) and even headlined the Bitcoin 2024 conference. This move attracted support from the crypto community, including the Winklevoss twins. Trump’s social media company, Truth Social, went public through a SPAC, a stock market trick popularized by tech veteran Chamath Palihapitiya.
Tech Oligarchs and Trump’s Similarities:
Contrary to popular belief, Trump’s alignment with tech billionaires is not surprising. Both parties share a penchant for financial tools that inflate the tech bubble. Additionally, some of Trump’s top tech supporters, like David Sacks, have been associated with controversial ventures, raising questions about their ethical practices.
Historical Connections between Silicon Valley and Conservatism:
Silicon Valley’s conservative ties predate the tech industry itself. Herbert Hoover, the first U.S. president from the Santa Clara Valley, transformed Stanford University into a conservative powerhouse. The Hoover Institution, a bastion of far-right thought, stands as a testament to Hoover’s influence. Other notable figures like David Packard and William Shockley Jr. also straddled the worlds of industry and conservative politics.
Trump’s Place in Silicon Valley’s History:
Trump’s foray into the tech industry aligns with the historical connections between Silicon Valley and conservatism. His success as a tech billionaire mirrors the trajectory of previous figures who leveraged their Stanford connections to implement their pro-business political agendas.
The Bay Area’s Influence on Republican Presidents:
The Bay Area’s influence on Republican presidents is well-documented. Ronald Reagan sourced high-ranking officials from the Hoover Institution, while George W. Bush relied on Silicon Valley supporters. The overlap between the tech industry and the Democratic Party is often emphasized, but the bosses of tech companies have consistently aligned with conservative ideologies.
Silicon Valley’s Political Philosophy:
Silicon Valley’s right-wing leaders do not subscribe to libertarianism; instead, they believe in a state that works in their favor. This philosophy has driven their support for Trump, who embodies their interests. Trump’s affinity for the tech industry is not surprising, as he shares the characteristics of right-wing warmongers and con men who have historically led the industry.
Conclusion:
The support of tech billionaires for Trump challenges the perception of Silicon Valley as a liberal stronghold. Trump’s alignment with the tech industry is not a recent development but rather the culmination of a historical connection between conservatism and the Bay Area. Understanding this history sheds light on the motivations behind tech billionaires’ support for Trump and highlights the shared interests between the industry and the former president.
