Silicon Valley got Trump completely wrong

In the previous year, a group of wealthy tech individuals threw their support behind Donald Trump’s presidential campaign, despite not all being lifelong Republicans. In 2016, venture capitalist Marc Andreessen endorsed Hillary Clinton for president, criticizing Trump’s immigration policies. Elon Musk, a former Obama supporter, also shifted his support to Trump in 2024. These tech moguls offered various reasons for their support, including self-interest and the belief that Trump’s policies would benefit the country’s economy and technological advancement. However, their investment in Trump has ultimately been detrimental to American economic growth and global standing.

The tech right’s backing of Trump was influenced by their concerns about the Democratic Party posing a threat to their financial interests, particularly in the crypto industry. They viewed Biden’s administration as unfavorable towards their businesses and cultural values. Trump’s promises to support their interests, such as limiting regulation and taxation, appealed to these tech moguls. However, Trump’s policies, including his trade war and spending cuts, have had negative consequences on economic growth, technological progress, and America’s global influence.

Trump’s trade war, marked by tariffs and trade policies, has harmed American tech investors and founders, affecting startups and major tech companies alike. The tariffs have not accelerated economic growth as promised but have instead hindered it. Additionally, Trump’s cuts to federal funding for scientific research and government agencies have slowed down technological progress and innovation. His administration’s actions have also led to a decline in skilled labor immigration, further jeopardizing America’s access to talent.

Overall, the tech right’s support for Trump, based on the belief that his policies would benefit the country’s economy and technological advancement, has proven to be misguided. Trump’s actions have undermined these goals, causing adverse effects on economic growth, scientific research, and America’s global standing.