Silicon Valley residents are increasingly showing support for Donald Trump, and his recent speech at the Republican National Convention (RNC) provided some insights into why.

In his 90-minute address, former President Donald Trump made a brief but significant nod towards the tech industry. “America,” he said, “is on the cusp of a new golden age, but we will have the courage to seize it.” This remark caught the attention of the “e/acc” community, a tech-focused movement supported by figures like Marc Andreessen and Gary Tan. An anonymous social media user, “@BasedBeffJezos,” shared a clip of Trump’s speech, asking followers, “Can you feel the acceleration anon?”

The GOP’s Stance on Bitcoin and Crypto

The GOP’s support for Bitcoin has been evident. Trump has expressed a desire for all future Bitcoin to be mined in the U.S., following discussions with industry representatives. The official Republican platform opposes the creation of a Central Bank Digital Currency and advocates for the right to mine Bitcoin, self-custody digital assets, and transact free from government surveillance.

J.D. Vance, the newly nominated vice-presidential candidate, owns Bitcoin and is a vocal critic of the Securities and Exchange Commission’s approach to blockchain and crypto, calling it “almost the exact opposite of what it should be.” Trump’s commitment to crypto is further underscored by his scheduled appearance at the Bitcoin 2024 Conference in Nashville on July 27.

Embracing AI and Emerging Technologies

The GOP is also showing signs of embracing artificial intelligence (AI). The party plans to repeal the Biden administration’s AI executive order and promote AI development rooted in free speech and human flourishing. Trump briefly mentioned AI in his nomination speech, highlighting its potential for the U.S. in global tech leadership.

Organizations like the America First Policy Institute (AFPI) and the Heritage Foundation are also pushing for AI advancements. AFPI is working on a framework to position America as a leader in AI, while Heritage’s “Project 2025” emphasizes using AI to combat waste, fraud, and abuse in government spending and to enforce international trade deals.

Areas of Uncertainty

However, there are concerns about how this tech-friendly rhetoric will translate into specific policies. Autonomous vehicles, which rely heavily on AI, face mixed signals. Tucker Carlson has expressed strong opposition to autonomous trucks, and Sean O’Brien, president of the Teamsters Union, has advocated for regulations requiring human drivers in autonomous vehicles and has lobbied for bans on such technologies.

J.D. Vance’s support for Federal Trade Commission (FTC) chair Lina Khan adds another layer of complexity. Despite criticizing SEC Chair Gary Gensler’s approach to crypto, Vance has praised Khan, who has taken an aggressive regulatory stance on AI and blocked numerous tech mergers.

A Cautious Optimism

Despite these mixed signals, Silicon Valley remains optimistic about the GOP’s potential to support innovation. Many tech leaders are backing the GOP nominee, hoping for a future where permissionless innovation can thrive. While the path forward remains uncertain, the current focus on cryptocurrency offers a glimpse of hope that broader tech innovations might find support as well.

Source: Cointelegraph