Bloomberg Audio Studios, podcasts, radio news. When Donald Trump announced JD. Vance as his running made on Monday, some of the most prominent people in Silicon Valley rejoiced. Chamath Polyopatia, the CEO of Social Capital and a former Facebook exec, posted on X a bestie adjacent as the VP from delhian Asparov, a well known venture capitalist quote, we have a former tech VC in the White House. Greatest country on Earth. Baby. There's been some reporting that Elon Musk himself lobbied Trump to choose Vance as his VP. Just a few hours later, news broke of Musk's commitment to donating forty five million dollars a month to a Trump superpack led by Silicon Valley alums. The next day, Musk tweeted as a reminder Doug leone of Sequoia Capital, publicly voiced his support for Trump six weeks ago. Silicon Valley has shifted. It's an eye popping series of developments for anyone who remembers when Elon Musk made his Iron Man cameo and was seen as the manifestation of Obama era hopes that Silicon Valley innovation could make climate goals a reality.

Bloomberg Audio Studios, podcasts, radio news. When Donald Trump announced JD. Vance as his running made on Monday, some of the most prominent people in Silicon Valley rejoiced. Chamath Polyopatia, the CEO of Social Capital and a former Facebook exec, posted on X a bestie adjacent as the VP from delhian Asparov, a well known venture capitalist quote, we have a former tech VC in the White House. Greatest country on Earth. Baby. There's been some reporting that Elon Musk himself lobbied Trump to choose Vance as his VP. Just a few hours later, news broke of Musk's commitment to donating forty five million dollars a month to a Trump superpack led by Silicon Valley alums. The next day, Musk tweeted as a reminder Doug leone of Sequoia Capital, publicly voiced his support for Trump six weeks ago. Silicon Valley has shifted. It's an eye popping series of developments for anyone who remembers when Elon Musk made his Iron Man cameo and was seen as the manifestation of Obama era hopes that Silicon Valley innovation could make climate goals a reality.

Good idea for electric jet. You do, then we'll make it work.

Good idea for electric jet. You do, then we'll make it work.

Today, Musk and many of his former PayPal co founders and other longtime tech leaders have lined up behind Trump. One of them, David Sachs, was even a keynote speaker at the Republican National Convention this week. My friends, we need President Donald J. Trump back in the White House. So how did we get here? What does this sudden infusion of Silicon Valley capital to the Trump campaign mean for the twenty twenty four election. What might the storied crew of savvy investors expect in return if Trump gets a second term? This is the big take from Bloomberg News. I'm David Gura.

Today, Musk and many of his former PayPal co founders and other longtime tech leaders have lined up behind Trump. One of them, David Sachs, was even a keynote speaker at the Republican National Convention this week. My friends, we need President Donald J. Trump back in the White House. So how did we get here? What does this sudden infusion of Silicon Valley capital to the Trump campaign mean for the twenty twenty four election. What might the storied crew of savvy investors expect in return if Trump gets a second term? This is the big take from Bloomberg News. I'm David Gura.

Stereotype of Silicon Valley is liberal. Is just It's wrong.

Stereotype of Silicon Valley is liberal. Is just It's wrong.

Max Chafkin covers Silicon Valley and its intersections with politics for Bloomberg BusinessWeek. He also wrote the book on a legendary Silicon Valley figure, the contrarian Peter Thiel, and Silicon Valley's pursuit of power.

Max Chafkin covers Silicon Valley and its intersections with politics for Bloomberg BusinessWeek. He also wrote the book on a legendary Silicon Valley figure, the contrarian Peter Thiel, and Silicon Valley's pursuit of power.

This is an industry that was founded as defense contractors. Like when you think about like where Silicon Valley comes from, it comes from tech companies doing business with the military. That's the root of the industry. I think what has changed is that Silicon Valley historically was pretty libertarian, you know, low taxes, limited government intervention, immigration, because the industry has been and will probably continue to be dependent on immigrant labor to some extent, and many founders come from different countries. These are all kind of like basic libertarian values that both parties a Democrat and Republican have competed for over the years.

This is an industry that was founded as defense contractors. Like when you think about like where Silicon Valley comes from, it comes from tech companies doing business with the military. That's the root of the industry. I think what has changed is that Silicon Valley historically was pretty libertarian, you know, low taxes, limited government intervention, immigration, because the industry has been and will probably continue to be dependent on immigrant labor to some extent, and many founders come from different countries. These are all kind of like basic libertarian values that both parties a Democrat and Republican have competed for over the years.

Yeah, Max, I remember in two thousand and eight, two thousand and nine, there was I think a warm relationship between Silicon Valley and a Democratic president Barack Obama. He even jokingly said he might think of moving to Silicon Valley and becoming a VC as a logical next career step for him when he left the White House. Just remind us what those days were like and sort of what the political terrain looked like in Silicon Valley.

Yeah, Max, I remember in two thousand and eight, two thousand and nine, there was I think a warm relationship between Silicon Valley and a Democratic president Barack Obama. He even jokingly said he might think of moving to Silicon Valley and becoming a VC as a logical next career step for him when he left the White House. Just remind us what those days were like and sort of what the political terrain looked like in Silicon Valley.

Then, So, venture capitalists their thing is is like, is not a data business, even though they've invest in a lot of like data driven companies. It's a vibes business. It's like getting a feeling and making a gut decision. And they saw a vibe shift in two thousand and eight they saw the way that Barack Obama was able to marshal these giant crowds and generate a lot of youthful enthusiasm. And also Obama was pretty enthusiastic about Silicon Valley. He saw, you know, the new economy and tech as a way to help the nation's grow and he was very vocal about that. Obama was very supportive of Elon Musk, gave this big loan to Tesla that helped save it in the wake of the economic crisis. Very big on electric cars, very big on alternative energy, and Elon Musk, being essentially the savvy operator that he is, embraced that part of his identity and his company's identity. He really framed Tesla during those years as an environmentalist project.

Then, So, venture capitalists their thing is is like, is not a data business, even though they've invest in a lot of like data driven companies. It's a vibes business. It's like getting a feeling and making a gut decision. And they saw a vibe shift in two thousand and eight they saw the way that Barack Obama was able to marshal these giant crowds and generate a lot of youthful enthusiasm. And also Obama was pretty enthusiastic about Silicon Valley. He saw, you know, the new economy and tech as a way to help the nation's grow and he was very vocal about that. Obama was very supportive of Elon Musk, gave this big loan to Tesla that helped save it in the wake of the economic crisis. Very big on electric cars, very big on alternative energy, and Elon Musk, being essentially the savvy operator that he is, embraced that part of his identity and his company's identity. He really framed Tesla during those years as an environmentalist project.

During the twenty sixteen election, many of these tech leaders did not endorse Trump. In fact, about one hundred and forty industry executives published an open letter denouncing him. One notable exception was Peter Teel.

During the twenty sixteen election, many of these tech leaders did not endorse Trump. In fact, about one hundred and forty industry executives published an open letter denouncing him. One notable exception was Peter Teel.

Co founder of PayPal, co founder Palenteer, and more importantly, a really big deal venture capitalist. His main firm is called Founder's Fund. He's also invested in many other venture capital firms and really what's most important about Peter Teel is that he has this network of kind of like minded technologists, many of whom are very wealthy, many of whom are very powerful. It's called the PayPal Mafia.

Co founder of PayPal, co founder Palenteer, and more importantly, a really big deal venture capitalist. His main firm is called Founder's Fund. He's also invested in many other venture capital firms and really what's most important about Peter Teel is that he has this network of kind of like minded technologists, many of whom are very wealthy, many of whom are very powerful. It's called the PayPal Mafia.

It's a name that's kind of shrouded in some mystery here Max PayPal Mafia, What is it and who's in it?

It's a name that's kind of shrouded in some mystery here Max PayPal Mafia, What is it and who's in it?

It refers to the early employees and founders of PayPal who got together in the late nineties, took PayPal public, sold it to eBay, got very rich, and then use that money essentially to make other investments. And so it's a group that includes Elon Musk, who was effectively a copounder of PayPal, Max Levchin, who runs a company called a Firm, David Sachs, who was at the Republican Convention, has become a major donor, reied Hoffman, founder of Lincoln who's a big Democratic donor, founders of YouTube, Yelp. You know, it goes on and on. Many of them have stayed in touch. They invest in each other's companies, They help one another. It's not just a business network, it's a political network. In addition to helping one other's companies, advancing a vision of politics as well well.

It refers to the early employees and founders of PayPal who got together in the late nineties, took PayPal public, sold it to eBay, got very rich, and then use that money essentially to make other investments. And so it's a group that includes Elon Musk, who was effectively a copounder of PayPal, Max Levchin, who runs a company called a Firm, David Sachs, who was at the Republican Convention, has become a major donor, reied Hoffman, founder of Lincoln who's a big Democratic donor, founders of YouTube, Yelp. You know, it goes on and on. Many of them have stayed in touch. They invest in each other's companies, They help one another. It's not just a business network, it's a political network. In addition to helping one other's companies, advancing a vision of politics as well well.

During the twenty sixteen campaign, Peter Tele made waves by endorsing Donald Trump.

During the twenty sixteen campaign, Peter Tele made waves by endorsing Donald Trump.

First of all, it was shocking because very few business people, not just Silicon Valley people, were enthusiastic about Trump, but also because like Trump's whole thing seemed one hundred and eighty degrees from the stereotype of Silicon Valley, even the stereotype of like Silicon Valley conservatism. Like we're talking about a proud lud eite, a guy who doesn't use email. We're talking about a guy who wants to have like extreme crackdown on immigration. And Peter Tele, like many very successful people in Silicon Valley, is an immigrant. It just like goes on and on. Right, He seemed like the very opposite of everything that like somebody like Peter Tele stood for, and even like Teal had talked about that, he'd said, like, Donald Trump, I'm paraphrasing, is like a symptom of everything that's wrong with New York City. On the other hand, when you sort of look a little deeper, Donald Trump, despite being kind of an odd fit in terms of his character sort of an awkward match with many of these technologists, they actually fit in sort of well together. And the reason for that, I'd say, is so Teal, over the course of his career, his whole thing had been this idea that we as a society had stagnated. It was this idea that big business and government have sort of slowed down and startups, these Silicon Valley companies are the thing that's going to bring us back to that crazy sci fi future that we once imagine. That was the future of Peter Teel's boyhood. Right. But it's also just kind of another formulation for mega. It's a backward looking idea, it's an idea of nostalgia. It is, in a weird way, kind of like a Silicon Valley version of what Donald Trump was saying. Donald Trump was saying, we need to get back to the future. We need to make America grade again.

First of all, it was shocking because very few business people, not just Silicon Valley people, were enthusiastic about Trump, but also because like Trump's whole thing seemed one hundred and eighty degrees from the stereotype of Silicon Valley, even the stereotype of like Silicon Valley conservatism. Like we're talking about a proud lud eite, a guy who doesn't use email. We're talking about a guy who wants to have like extreme crackdown on immigration. And Peter Tele, like many very successful people in Silicon Valley, is an immigrant. It just like goes on and on. Right, He seemed like the very opposite of everything that like somebody like Peter Tele stood for, and even like Teal had talked about that, he'd said, like, Donald Trump, I'm paraphrasing, is like a symptom of everything that's wrong with New York City. On the other hand, when you sort of look a little deeper, Donald Trump, despite being kind of an odd fit in terms of his character sort of an awkward match with many of these technologists, they actually fit in sort of well together. And the reason for that, I'd say, is so Teal, over the course of his career, his whole thing had been this idea that we as a society had stagnated. It was this idea that big business and government have sort of slowed down and startups, these Silicon Valley companies are the thing that's going to bring us back to that crazy sci fi future that we once imagine. That was the future of Peter Teel's boyhood. Right. But it's also just kind of another formulation for mega. It's a backward looking idea, it's an idea of nostalgia. It is, in a weird way, kind of like a Silicon Valley version of what Donald Trump was saying. Donald Trump was saying, we need to get back to the future. We need to make America grade again.

You could hear that sentiment during Teal's speech at the twenty sixteen Republican National Convention.

You could hear that sentiment during Teal's speech at the twenty sixteen Republican National Convention.

Donald Trump asked us to make America great again.

Donald Trump asked us to make America great again.

He's not suggesting a return to the past.

He's not suggesting a return to the past.

He's running to lead us back to that right future.

He's running to lead us back to that right future.

October twenty sixteen, a critical moment for the Trump campaign. The Access Hollywood tape just released at.

October twenty sixteen, a critical moment for the Trump campaign. The Access Hollywood tape just released at.

The time, like every Republican was sort of running away from him, and like that's when Peter Teal chose to donate to Donald Trump. He gave a million dollars to a Donald Trump political action committee, and he gave this speech where he kind of explained himself and the explanation was like, I don't agree with what Donald Trump said, I'm offended by them, but he's the guy. And Teal had this very memorable line, you know, you shouldn't take Trump literally, you should take him seriously, implication being like he may be a little different from what you and I want, but he's the guy we need. And like that became the kind of like default Teal position, and I'd say like a position that was sort of adopted by many in the corporate world after Trump got elect did and they had to work with him.

The time, like every Republican was sort of running away from him, and like that's when Peter Teal chose to donate to Donald Trump. He gave a million dollars to a Donald Trump political action committee, and he gave this speech where he kind of explained himself and the explanation was like, I don't agree with what Donald Trump said, I'm offended by them, but he's the guy. And Teal had this very memorable line, you know, you shouldn't take Trump literally, you should take him seriously, implication being like he may be a little different from what you and I want, but he's the guy we need. And like that became the kind of like default Teal position, and I'd say like a position that was sort of adopted by many in the corporate world after Trump got elect did and they had to work with him.

Trump is elected and there's this meeting that takes place at Trump Tower in Manhattan. All these tech executives come. Just set the scene for us. What did they talk about at that meeting? And what does it say to you about the relationship that Donald Trump had with big tech?

Trump is elected and there's this meeting that takes place at Trump Tower in Manhattan. All these tech executives come. Just set the scene for us. What did they talk about at that meeting? And what does it say to you about the relationship that Donald Trump had with big tech?

So Teal after the election was named a prominent position on the transition Committee. December fourteenth, twenty sixteen. There's this meeting on the twenty fifth floor of Trump Tower. Just to set the stage, glass all around this big boardroom table, and you have basically a who's who of Silicon Valley seated with Trump in the middle. You got Trump, Mike Pences on his right side, Peter Tele's on his left side, and then going around it's all the biggies jol.

So Teal after the election was named a prominent position on the transition Committee. December fourteenth, twenty sixteen. There's this meeting on the twenty fifth floor of Trump Tower. Just to set the stage, glass all around this big boardroom table, and you have basically a who's who of Silicon Valley seated with Trump in the middle. You got Trump, Mike Pences on his right side, Peter Tele's on his left side, and then going around it's all the biggies jol.

Musco CEO of SpaceX, Tesla, Eric Smith, Alphabet Google, and Saffricatz I'm CEO.

Musco CEO of SpaceX, Tesla, Eric Smith, Alphabet Google, and Saffricatz I'm CEO.

Of Borco, Tim Cook on the other side of the table, Larry Page, Jeff Bezos, Eric Trump, Don Junior. So it's like Silicon Valley has made it to the inner sanctum. Once the cameras are gone, they just snapped into business mode. You know, they were lobbying. You know, they were got right down to business. And that's essentially the story of the first Trump presidency. Trump didn't follow through with many of these incredibly aggressive proposals. You know, there was a trade war with China, but Apple won a lot of exemptions. Trump talked ad nauseam about how terrible Facebook was and how social media need to crack down social media. There were all these events at the White House with various like far right bloggers and so on, but nothing actually happened. The stocks of these companies did very well. Trump essentially left these guys alone.

Of Borco, Tim Cook on the other side of the table, Larry Page, Jeff Bezos, Eric Trump, Don Junior. So it's like Silicon Valley has made it to the inner sanctum. Once the cameras are gone, they just snapped into business mode. You know, they were lobbying. You know, they were got right down to business. And that's essentially the story of the first Trump presidency. Trump didn't follow through with many of these incredibly aggressive proposals. You know, there was a trade war with China, but Apple won a lot of exemptions. Trump talked ad nauseam about how terrible Facebook was and how social media need to crack down social media. There were all these events at the White House with various like far right bloggers and so on, but nothing actually happened. The stocks of these companies did very well. Trump essentially left these guys alone.

So by the end of Trump's first term, he had a pretty favorable relationship with big tech. But then came January sixth. Trump was kicked off Twitter and Facebook and everything changed. That's coming up. January sixth initially seemed like it would make Trump toxic even to the business minded execs in Silicon Valley, But as Bloomberg BusinessWeek reporter Max Chafkins says, Silicon Valley is more often about vibes, and soon the vibes were back in Trump's favor.

So by the end of Trump's first term, he had a pretty favorable relationship with big tech. But then came January sixth. Trump was kicked off Twitter and Facebook and everything changed. That's coming up. January sixth initially seemed like it would make Trump toxic even to the business minded execs in Silicon Valley, But as Bloomberg BusinessWeek reporter Max Chafkins says, Silicon Valley is more often about vibes, and soon the vibes were back in Trump's favor.

And so what happened is, I think first the Republican Party sort of figured out that Donald Trump was still very popular and that voters were going to be willing to look past January sixth. Teel also kind of he never totally distanced himself from Trump, but he sort of went quiet after the twenty twenty election, and he started getting active again during the mid term. And these MAGA Republicans did not necessarily have a great general election. Some of them lost, but it was clear that the Republican Party was Donald Trump's party, and I think from the mid term to today, the sort of comfort with Trump has grown.

And so what happened is, I think first the Republican Party sort of figured out that Donald Trump was still very popular and that voters were going to be willing to look past January sixth. Teel also kind of he never totally distanced himself from Trump, but he sort of went quiet after the twenty twenty election, and he started getting active again during the mid term. And these MAGA Republicans did not necessarily have a great general election. Some of them lost, but it was clear that the Republican Party was Donald Trump's party, and I think from the mid term to today, the sort of comfort with Trump has grown.

If you look at the list of people who are supporting Donald Trump this time around from Silicon Valley, is there a common thread of grievances that they have with this curt administration with President Biden.

If you look at the list of people who are supporting Donald Trump this time around from Silicon Valley, is there a common thread of grievances that they have with this curt administration with President Biden.

There's sort of two buckets of grievance with the Biden administration that you hear from Silicon Valley. One bucket is policy. Many of these guys are investors on this list. Many of these guys made enormous investments in various crypto companies, and Biden administration cracked down on crypto to some extent. There have been a bunch of criminal prosecutions of some really prominent crypto figures and also lots and lots of civil actions. As many people in crypto see it, the Biden administration has essentially gone to war against crypto. A second bucket anti trust. Because of this kind of slightly more aggressive pose of the FTC, the M and A market has really cooled off because these big tech companies don't feel like they can do, you know, big acquisitions as easily because there's always a risk of anti trust and so like that has really disrupted the business of many of these venture capitalists. And so the industry thinks that Biden has been too hard on them, and that's a policy thing, but there's sort of a related thing, which is like character and manner and like how Biden talks about the industry. He has not been as solicitous of these guys. There's a sense that they do not have a president who is accommodating them.

There's sort of two buckets of grievance with the Biden administration that you hear from Silicon Valley. One bucket is policy. Many of these guys are investors on this list. Many of these guys made enormous investments in various crypto companies, and Biden administration cracked down on crypto to some extent. There have been a bunch of criminal prosecutions of some really prominent crypto figures and also lots and lots of civil actions. As many people in crypto see it, the Biden administration has essentially gone to war against crypto. A second bucket anti trust. Because of this kind of slightly more aggressive pose of the FTC, the M and A market has really cooled off because these big tech companies don't feel like they can do, you know, big acquisitions as easily because there's always a risk of anti trust and so like that has really disrupted the business of many of these venture capitalists. And so the industry thinks that Biden has been too hard on them, and that's a policy thing, but there's sort of a related thing, which is like character and manner and like how Biden talks about the industry. He has not been as solicitous of these guys. There's a sense that they do not have a president who is accommodating them.

Trump certainly represents a more accommodating president, but they also seem to think they'd have an accommodating vice president, somebody who could pick up the Republican Party mantle in a post Trump world. I want to ask you about jd. Vance, the junior senator from Ohio, now Donald Trump's running mate. What familiarity does he have with with a lot of these people.

Trump certainly represents a more accommodating president, but they also seem to think they'd have an accommodating vice president, somebody who could pick up the Republican Party mantle in a post Trump world. I want to ask you about jd. Vance, the junior senator from Ohio, now Donald Trump's running mate. What familiarity does he have with with a lot of these people.

He met tiol Ata a law school event while he was at Yale, and then he writes this book Hillbilly Elogy, which is, you know, a super successful memoir that really struck a nerve, especially it was published in twenty sixteen, kind of became a sort of way to understand like what was happening. With the rise of Trump, Teal blurbed the book and Teal hired JD. Vance at Mythrol, which is like kind of one of his other venture capital firms. His time at Mithroll was very short. This is not somebody who had like a long distinguished career in tech before he went into politics. And then the political story really intensifies in twenty twenty one after Trump, you know, lost reelection after January sixth, Teal takes jade Vance Tomorrow Lago to essentially introduce him and also help kind of repair some of the damage because jade Vance, when he was promoting Hillbilly elogy, was super down on Donald Trump. He presented himself not as a a enthusiastic supporter of trump Ism, but kind of as an explainer of trump Ism and a critic of trump Ism. And then most importantly, Teal gives him a huge chunk of change to get his primary candidacy off the ground. I think without the fifteen million dollars that Teal puts into JD. Fance's campaign, you know, we don't have JD. Vans the Senator. We don't have JD. Vance the vice presidential candidate.

He met tiol Ata a law school event while he was at Yale, and then he writes this book Hillbilly Elogy, which is, you know, a super successful memoir that really struck a nerve, especially it was published in twenty sixteen, kind of became a sort of way to understand like what was happening. With the rise of Trump, Teal blurbed the book and Teal hired JD. Vance at Mythrol, which is like kind of one of his other venture capital firms. His time at Mithroll was very short. This is not somebody who had like a long distinguished career in tech before he went into politics. And then the political story really intensifies in twenty twenty one after Trump, you know, lost reelection after January sixth, Teal takes jade Vance Tomorrow Lago to essentially introduce him and also help kind of repair some of the damage because jade Vance, when he was promoting Hillbilly elogy, was super down on Donald Trump. He presented himself not as a a enthusiastic supporter of trump Ism, but kind of as an explainer of trump Ism and a critic of trump Ism. And then most importantly, Teal gives him a huge chunk of change to get his primary candidacy off the ground. I think without the fifteen million dollars that Teal puts into JD. Fance's campaign, you know, we don't have JD. Vans the Senator. We don't have JD. Vance the vice presidential candidate.

Teal's donation to JD. Vance, Elon Musk's eye popping pledge of forty five million dollars a month to a Trump super pack, and now the Republican ticket with Trump and Vance at the top. It all raises a question, Max, there's something kind of inherently transactional. I think not to be too cynical about political donations, but you know, if you're ponying up forty five million dollars a month, one would think that you'd want something in return. What do these leaders in Silicon Valley expect to get or want to get from Donald Trump if he's reelected.

Teal's donation to JD. Vance, Elon Musk's eye popping pledge of forty five million dollars a month to a Trump super pack, and now the Republican ticket with Trump and Vance at the top. It all raises a question, Max, there's something kind of inherently transactional. I think not to be too cynical about political donations, but you know, if you're ponying up forty five million dollars a month, one would think that you'd want something in return. What do these leaders in Silicon Valley expect to get or want to get from Donald Trump if he's reelected.

They want to be left alone. For the most part, Palenteer during the Trump years did exceedingly well, got lots and lots of contracts. The government denied that there was any reason other than merit for Palenteer to get those contracts, but there were a handful of companies that were less well politically regarded that did not get contracts. And Elon Musk is, in addition to an electric car executive, a defense contractor. There are a lot of economists right now in twenty twenty four writing about how terrible Trump's various proposals would be we saw, you know, earlier this week the stock market dived because Trump made some comments Bloomberg BusinessWeek, and it has implications for chip companies or whatever. But I think what a lot of these CEOs know, and the Trump supporters know, or at least think they know, is that Trump didn't follow through with many of these incredibly aggressive proposals. Trump essentially left these guys alone. When you look at who is supporting Trump this time, they see a president who was fairly hands off on tech, and that's kind of like what they're hoping for. Again, they don't take the rhetoric literally, you know, just as Teal suggested.

They want to be left alone. For the most part, Palenteer during the Trump years did exceedingly well, got lots and lots of contracts. The government denied that there was any reason other than merit for Palenteer to get those contracts, but there were a handful of companies that were less well politically regarded that did not get contracts. And Elon Musk is, in addition to an electric car executive, a defense contractor. There are a lot of economists right now in twenty twenty four writing about how terrible Trump's various proposals would be we saw, you know, earlier this week the stock market dived because Trump made some comments Bloomberg BusinessWeek, and it has implications for chip companies or whatever. But I think what a lot of these CEOs know, and the Trump supporters know, or at least think they know, is that Trump didn't follow through with many of these incredibly aggressive proposals. Trump essentially left these guys alone. When you look at who is supporting Trump this time, they see a president who was fairly hands off on tech, and that's kind of like what they're hoping for. Again, they don't take the rhetoric literally, you know, just as Teal suggested.

This is the big take from Bloomberg News. I'm David Gerre. This episode was produced by Julia Press and Andreana Tapia. It was fact checked by Thomas lou. It was mixed by Bill Moss. Our senior producers are Kim Gittleson and Naomi Shaven, who also edited this episode with Stacy vanick Smith. Our senior editor is Elizabeth Ponso. Nick cool Beemster Borr is our executive producer. Sage Bauman is Bloomberg's head of Podcasts. Thanks so much for listening. Please follow and review The Big Take. Wherever you get your podcasts, it helps new listeners find the show. We'll be back tomorrow.

This is the big take from Bloomberg News. I'm David Gerre. This episode was produced by Julia Press and Andreana Tapia. It was fact checked by Thomas lou. It was mixed by Bill Moss. Our senior producers are Kim Gittleson and Naomi Shaven, who also edited this episode with Stacy vanick Smith. Our senior editor is Elizabeth Ponso. Nick cool Beemster Borr is our executive producer. Sage Bauman is Bloomberg's head of Podcasts. Thanks so much for listening. Please follow and review The Big Take. Wherever you get your podcasts, it helps new listeners find the show. We'll be back tomorrow.