How Big Tech Could Benefit from Trump’s Second Term

Returning President Donald Trump received congratulations from major tech companies that included Meta, Amazon, Google, and more. They could become major beneficiaries of his second term.

Many tech companies are hopeful that a Trump administration will be a boon for big business and will get rid of some of the government interference and high taxes that they have been dealing with. If their hopes are confirmed, then that could help spur innovation in the tech industry.

Venture capitalists and tech company owners had a lot to be thankful for on election night. Donald Trump has always presented himself as a friend of businesses, especially American businesses.

Elon Musk is one of the tech company owners that stands to benefit the most from Trump’s presidency. Of course, Musk is a strong supporter of the incoming President, having heavily contributed to his campaign and then vouching for him on the X social media platform.

Tech Innovations to Come?

Both Trump and Harris promised support for AI (artificial technology), but Trump was more specific in his plans. He said he would repeal the AI executive order that President Joe Biden passed in 2023. That order was designed to keep AI businesses in check with their innovations, and Trump believes that the order will hinder technological progress.

Trump has also vowed to support cryptocurrency, and he could open the doors for more innovation there by pulling back some of the regulatory framework and making sure the government does not get in the way of what the crypto market is doing. He already has his own crypto token and his own crypto venture in World Liberty Financial.

Is Retribution Coming for Some Companies?

Trump has expressed unhappiness with how some tech companies have represented him, specifically Google, which he says made him look bad. He said it has too much power and he plans to “do something” about that. Speaking on Google, he said, “What you can do without breaking it up is make sure it’s more fair.” What that entails remains to be seen, but you can be sure that Trump will target his enemies once he assumes power.

There is some concern that he will dip his toes into antitrust legislation, but for many tech companies there are already ongoing legal cases concerning that issue. Trump is not likely to interfere with them and just let them play out for now before trying to do anything on the antitrust front early on in his presidency.

He may, however, crack down on TikTok, as Biden reversed some of the plans Trump had to limit TikTok in the US.