Anna Moneymaker/Getty Images

After Tuesday’s election, the congratulations from the tech elite to Donald Trump came in fast. Everyone from Tim Cook to Mark Zuckerberg posted their well wishes for Trump’s second term. Even Jeff Bezos weighed in, hailing Trump’s “extraordinary political comeback and decisive victory.” This, from a man who has been in more than one public feud with Trump.

The newfound praise does not, however, signal a political realignment in all of Silicon Valley. Tech executives as well as rank-and-file workers overwhelmingly supported Kamala Harris in the election, which shouldn’t be too surprising: She’s been involved in Bay Area politics for many years and has deep ties with the tech and venture capital industries. 

That allegiance continued the trends of the Obama era, which was marked by a bit of a love fest between Washington and Silicon Valley.  Now, that era is over. 

In its place is something darker and dominated by a small but very loud group of technolibertarian Trump fans whose ranks include not only Elon Musk but also the industry’s most influential investors, most of the “PayPal Mafia”, and the new vice president-elect.

Does that mean the tech industry has taken a turn to the right? Is Silicon Valley Trump country now?

“It is neither left nor right, Democrat or Republican,” Margaret O’Mara, an American history professor at the University of Washington, told me after the election. She pointed out that the tech industry culture in Silicon Valley has its roots in post-Vietnam baby boomers viewing personal computers as a form of liberation.

“They didn’t feel like they had anything in common with political conservatives, but they shared a libertarianism that ran its way all the way across the political spectrum,” O’Mara added. “It’s kind of a funny libertarianism.”

You get a sense of Silicon Valley’s anti-bureaucratic worldview in everything from Apple’s famous “1984” ad, which quite literally suggests tearing down the establishment, to Google’s celebrated 20 percent rule, which lets employees work on side projects of their own choosing. There’s also a more extreme version of this philosophy in the tech industry: These 21st-century techno-libertarians just want to be left alone to build things and make money.

The tech executives busy kissing the ring this week are not necessarily part of this crowd. The Tim Cooks of the world are just doing business, and that requires doing business with the president of the United States, whomever it might be. After the tumultuous first Trump administration, these leaders learned that the president-elect responds best to flattery and praise. 

This would be handy for many reasons. The Biden administration has been tough on Big Tech. He appointed anti-monopoly legal star Lina Khan to chair the Federal Trade Commission, and she mounted multiple antitrust suits against the country’s biggest tech companies, including Amazon, Microsoft, and Meta. Now, Khan is currently waiting to see if she’ll keep her job, and the targets of those lawsuits may have an ally in Trump, who gets to decide Khan’s fate. Tech companies would also enjoy lower corporate taxes, which Trump has promised to provide.

“In my mind, this isn’t a story about Silicon Valley overall and DC overall,” said Robert Lalka, a professor at Tulane University. “Instead, what’s occurring now involves the influence of far fewer people: a very close-knit network of like-minded Trump supporters, especially if we focus on the PayPal Mafia, and the transformation of the Republican Party and its policy agenda.”

The PayPal Mafia refers to a group of entrepreneurs who worked at PayPal in its early days before going on to found or help build hugely influential tech companies. If you had to pick a godfather of the PayPal Mafia — and hence the leader of this pro-Trump techno-libertarian political revolution — it would be Peter Thiel. The PayPal co-founder donated over $1 million to Trump’s campaign back in 2016 and spent $10 million to help JD Vance win a Senate seat in Ohio in 2022.  

Thiel also helped fund a project to establish autonomous, floating nations in international waters, where they would be free of all laws and regulations — one reason he has been called the “avatar of techno-libertarianism.”

The motivations of the techno-libertarians, also now known as techno-authoritarians, are more twisted. Elon Musk, who was also a co-founder of PayPal, emerged this year as Trump’s biggest supporter after donating nearly $119 million to his campaign through his America PAC and has made the promotion of free speech one of his missions.  

It’s not hard to see why Musk would benefit from a close relationship with the White House. Musk’s rocket company, SpaceX, makes billions of dollars through government contracts, while his car company, Tesla, is lobbying for fewer regulations around self-driving cars as it attempts to launch a robotaxi business. Musk’s company Tesla Energy, formerly SolarCity, has received billions in subsidies over the years and surely looks to benefit from the federal government’s continued investment in the energy transition. Meanwhile, Trump has promised Musk a role in his administration as the “secretary of cost-cutting” — a position that doesn’t yet exist, but one that Trump seems to be seriously entertaining.

The other loud pro-Trump voices in Silicon Valley share a web of connections to one another. There’s former PayPal COO and Musk pal David Sacks, who spoke at the Republican National Convention in July; Joe Lonsdale, who co-founded Palantir with Thiel and helped launch Musk’s America PAC; and Marc Andreessen, who last year published the 5,200-word Techno-Optimist Manifesto that envisions tech leaders as keepers of the social order.

It’s worth noting that not every member of the PayPal Mafia has pledged allegiance to Trump. Reid Hoffman, another former PayPal COO and co-founder of LinkedIn is a prominent fundraiser for the Democratic Party. He donated $7 million to pro-Harris and pro-Biden PACs, even though he’s a vocal Lina Khan critic. He was also on a list of more than 100 venture capitalists who threw their support behind Harris leading up to the election.

And then there’s cryptocurrency.

You could argue that the crypto vote was vital to helping Trump and a lot of other Republican candidates win, too. The crypto industry has emerged as one of the most powerful lobbying forces in the country, pouring tens of millions of dollars into races against politicians they perceive to be anti-crypto. It’s working, too. So far, 48 candidates backed by pro-crypto PACs have won their races this year. Zero have lost.

When you think of it that way, Trump’s win on the back of techno-authoritarian billionaires seems less like a seismic shift in the politics of the tech industry and more like a bunch of one-issue voters who donated lots of money and got their way.

One day after Trump declared victory, he asked Elon Musk to join him on a call with Ukrainian President Volodymyr Zelenskyy. And in the coming months, several more members of the PayPal mafia get to decide what US tech policy will be for the next four years.

You have to wonder if they just want to tear it all down. Or maybe they’ll get bored and move to a floating nation in international waters where there are no laws and never have been.

Jean Chung/Getty Images

The viral 4B movement, explained: After President-elect Donald Trump’s win, some curious Gen Zers are turning to the Korean 4B campaign for inspiration. The movement, developed among feminist Twitter users in 2017 and 2018 in conjunction with South Korea’s Me Too movement, asks followers to swear off heterosexual marriage, dating, sex, and childbearing. 

How to live under rising authoritarianism, according to a philosopher: Our ethics columnist recommends the work of Viktor Frankl, a Jewish philosopher who survived Nazi concentration camps. His viewpoint of “tragic optimism” demanded people take action in times of unknowable change, and argues that humans always have agency when it comes to making meaning out of a difficult situation.

Worried Trump could run for a third term? He definitely cannot. While President-elect Donald Trump has joked about pursuing a third term, he’s barred from running again by the 22nd Amendment of the US Constitution. To run for a third term, he’d have to repeal that amendment, which would be extremely difficult to pull off successfully.

Where the future administration stands on AI: It’s still unclear where Trump stands on artificial intelligence, which has changed immensely over the past four years. While Trump’s supporters include anti-regulation accelerationists like venture capitalist Marc Andreessen, he has also been influenced by billionaire Elon Musk, who supports regulation and has expressed concerns that AI will bring about the end of the human race.

Political upheaval in Germany: The country is facing political gridlock after its deeply unpopular ruling coalition collapsed last week. Germany was previously governed by a coalition of three parties with very different aims —  but now one has pulled out, making it difficult to pass legislation with just two parties left.

Racist texts targeting Black Americans: The FBI is currently investigating a wave of racist texts that have been sent to Black people across nine states ordering them to report for duty as slaves, addressing some recipients by name. [Washington Post]

Arrests in connection to Liam Payne’s death: Three suspects have been arrested in connection with the former One Direction member’s death in Argentina last month. They were charged with “the crimes of abandonment of a person followed by death, supply and facilitation of narcotics." [Yahoo]

Christopher Furlong/Getty Images

In October, the total amount of credit card debt in the US reached an all-time high of $1.14 trillion, with individuals owing an average of $8,000. 

As Americans stare down a mountain of credit card debt and student loan payments that deplete their savings, many may have begun to yearn for the economy under Trump in 2019, when they had more cash on hand and had a stimulus boost to cushion their financial fears. 

After a brief spike in savings rates during the pandemic due to stimulus checks, Americans are now saving less than they were pre-pandemic. To read more about why the economy feels bad to so many Americans and how it affected Trump’s reelection, you can check out senior reporter Nicole Narea’s story here.

Are you enjoying the Today, Explained newsletter? Forward it to a friend; they can sign up for it right here. 

And as always, we want to know what you think. Specifically: If there is a topic you want us to explain or a story you’re curious to learn more about, let us know by filling out this form or just replying to this email. 

Today’s edition was produced and edited by senior editor Lavanya Ramanathan, with contributions from staff editor Melinda Fakuade. We'll see you tomorrow!

Become a member to support fearless, independent election coverage.

This email was sent to you. Manage your email preferences or unsubscribe. If you value Vox’s unique explanatory journalism, support our work with a one-time or recurring contribution.

View our Privacy Notice and our Terms of Service.

Vox Media, 1701 Rhode Island. NW, Washington, DC 20036.
Copyright © 2024. All rights reserved.