Tech bros love J.D. Vance. Many CEOs are scared stiff [View all]

[usonian]

Schumpeter at the economist.

Both men are driven by grievances. Both are highly unpredictable. Yet for all the Ohioan’s twists and turns, his antipathy towards big business and his desire to break up big tech appear to run deep. That may make him harder to deal with than the transactional Mr Trump.

• Their first gripe is over cryptocurrencies and the blockchain. (Regulation)
• Next come concerns about Mr Biden’s efforts to regulate artificial intelligence (ai). ... They say the order provides an unfair advantage to tech giants, which have vastly more resources to deal with red tape. (Both sides of the aisle have expressed concern)
• The third, and most immediate, concern is Mr Biden’s latest budget proposal, which includes a 25% tax on unrealised capital gains for those with over $100m of wealth. (Proposal)

Although bosses may like the sound of tax cuts and deregulation, they fear further descent into protectionism and political chaos. There are Mr Trump’s tariff threats, echoed by Mr Vance, that risk inflaming trade wars, and the spectre of mass deportation of immigrants, which may exacerbate labour shortages. There is economic populism: “We’re done…catering to Wall Street,” Mr Vance thundered.

https://archive.ph/Tyofv or

https://www.economist.com/business/2024/07/17/tech-bros-love-jd-vance-many-ceos-are-scared-stiff
If you have money to burn.