What is happening in the US high-tech world and on Wall Street is absolutely crucial, with a growing turn of its main protagonists towards the candidacy of Donald Trumpand in rejection of Joe Biden and the Democratic administration, around 2 fundamental points:
a) The need to move to a stage of drastic deregulation of the “high tech” industry, one of whose manifestations has been the full recovery of freedom of expression (1st Amendment) on Internet networks, which was prohibited to Donald Trump and conservatives after January 6, 2021 (Assault on the Capitol), and which Elon Musk reinstated in X (ex – Twitter)
b) Facilitate the process of fusions and acquisitions (M&A) of Wall Street, today practically paralyzed, and which is essential to channel the investment boom of Artificial Intelligence (AI).
The reason for these two trends is that the product cycle in AI is 2 years, and that AI equipment becomes obsolete from that moment on, and must be replaced.
The four main American “high tech” companies – Amazon, Microsoft, Meta/Facebook and Google – have invested more than US$ 200,000 million annually in their teams in the last 4 years, which represents, directly or indirectly, around US$ 800,000 million per year in the world.
The head of BlackRock, the main investment fund on Wall Street, Stephen Schwarzman, a traditional supporter of the Democrats, has decided to support Donald Trump this year, arguing that “…he shares the concern of the majority of Americans that politics economic, immigration, and current foreign policy They are taking the country in the wrong direction.”
The same has happened with Bill Ackman, head of “Pershing Square Capital Management” – the 3rd “hedge fund” on Wall Street -, who is now betting on supporting Donald Trump in the November 5 elections. Ackman is a partner of Elon Musk in X and his support for Trump became public after the New York court ruling that convicted the former president of 34 crimes.
Wall Street, in short, tends to turn to Donald Trump on a large scale; and the reason is that the ex-president proposes in a new government to initiate a drastic cycle of deregulation of the financial systemand above all the investment process, ending the hyper-regulatory Democratic interventionism of the “Federal Trade Commission”, which is the “anti-trust” agency of the North American government, as well as launching a new cut of taxes, just as he did in his 1st term.
What is notable is that something similar regarding Donald Trump is happening in the ultra-liberal stronghold of Silicon Valley.
Everything revolves there around Elon Musk, who has become the champion of the complete deregulation of the technological revolution of Artificial Intelligence; and Elon Musk supported Biden in 2020, and before – twice – Barack Obama, and then Hillary Clinton.
But last week Musk noted, referring to the New York court that unanimously convicted Donald Trump: “The more unfair the attacks on Trump seem to the public, the more your support will grow in the polls”, as he stated on X before his 185 million followers.
Musk starkly focuses on the cognitive and physical limitations derived from President Biden’s high age, and does so in unequivocal terms: “Biden – he specified – obviously You don’t know what’s happening around you. “The president is nothing more than a tragic front for a far-left political machine that controls the White House.”
The data of this turn to Donald Trump of North American high technology, points out “Financial Times”, are the following: in 2020 there were 28 Biden donors for every Trump donor in Silicon Valley, and the ratio climbed 3.9 to 1 in the area. of the San Francisco Bay Area, while in 2024 there are 2.6 Biden donors for every support for Donald Trump, and in the “Bay Area” the ratio has fallen 3.3 to 1, with a trend that accelerates as November approaches .
The situation can be summarized in these terms: the United States has once again become the unequivocal center of world power, as happened in the ’90s after the implosion of the Soviet Union, but this time because it is the axis and the beginning of the new technological revolution of Artificial Intelligence (AI), and therefore, of the 4th Industrial Revolution, which is the current phase of capitalist accumulation in the world, and will be in the next 10/15 years.
Hence the change in the balance of forces in favor of Trump and against the Democrats that is being seen both in Silicon Valley and on Wall Street.
“There is a dark harmony in things,” says Holderlin, only this time the “things” have the dazzling clarity of the technological revolution of Artificial Intelligence, which is the technology of the time, originated and spearheaded by the United States, indisputably. become the axis of world power in the third decade of the 21st century.
