Elon Musk and the tech bros banked on Trump and lost. Humbled, humiliated: what will they do next? | Jonathan Liew
Democrats won seats on anti-datacentre tickets and Musk wasted nearly half a billion dollars. Big tech may be losing its grip, but it won’t go quietly Photos That Precede Unfortunate Events: a couple of months back, Donald Trump hosted some of the world’s most powerful tech executives at the White House for a “ Super Intelligence luncheon ”, which by coincidence is also how my mum described her…
After failing to foresee the defeat of Donald Trump in the 2020 election, Elon Musk and other tech bros bet heavily on Trump and his administration, pouring nearly half a billion dollars into their vision of an unregulated AI industry led by this political force. However, their gamble has backfired as the midterms brought a resounding victory for anti-datacentre tickets and a devastating sell-off of tech stocks.
Meanwhile, big tech's influence appears to be waning as voters express their disapproval of both tech and politicians who enabled it. As big tech faces increased scrutiny, it remains to be seen if these powerful figures will demand greater accountability or retreat into a more authoritarian stance.
Written by urgent.news from Guardian Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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