Trump tech appointees advocate for deregulation in the tech industry

President-elect Donald Trump’s recent appointments and cabinet nominees are showing a shift towards deregulation in the tech industry, which has tech executives excited about the potential for growth and competitiveness on a global scale.

Trump has made key selections for various positions, including the chair of the Federal Trade Commission, chair of the Securities and Exchange Commission, and even created a new role for an “AI and crypto czar.” These appointments are seen as a move towards supporting geopolitical, technology, and innovation issues that were not prioritized in his first term.

For instance, Trump has chosen Andrew Ferguson as the new chairman of the FTC, with Mark Meador joining as an antitrust specialist. Together, they are expected to focus on scrutinizing Big Tech for issues like censorship. Additionally, Trump has appointed Paul Atkins, a cryptocurrency advocate, as the chair of the SEC and David Sacks, a former PayPal executive, as the “AI and crypto czar.”

This shift in appointments reflects Trump’s changing views on digital currencies. While he once called them volatile and based on thin air, he has since embraced them, even rolling out a new venture called World Liberty Financial. He aims to make the U.S. the “crypto capital of the planet.”

These appointments and connections signal a move towards “techno-pragmatic nationalism,” where Republican deregulatory instincts are mixed with policies that aim to maintain the U.S.’s status in the global tech economy. This may result in policies that allow large U.S. tech companies to thrive while creating barriers for foreign competitors, particularly those from China.

The industry’s response to these appointments has been positive, with many projects gearing up for growth and hiring locally in the U.S. SoftBank’s $100 billion investment into U.S. projects under Trump’s term is further indication that the industry is ready to progress and attract more investment.

Overall, Trump’s second term is shaping up to be more supportive of tech innovation and growth compared to his first term. The focus is on driving local tech economies while positioning the U.S. as a global leader in tech and digital currencies. With a changing regulatory environment, technological advancements are expected to accelerate, leading to increased integration of AI across various industries.