Musk sees Trump administration as the vehicle for getting rid of as many regulations as he can
- Elon Musk ’s backing of Donald Trump ’s decisive victory for a second presidency gives the billionaire entrepreneur extraordinary influence to help his companies secure favorable government treatment. Musk contributed at least $119 million to a pro-Trump spending group, federal records show, and tirelessly touted the former president at the critical late stage of his campaign.
Musk endorsed Trump on July 13, the day the candidate was shot in the ear in a Pennsylvania assassination attempt. Musk's donations financed an extensive get-out-the-vote effort as Trump faced a stiffer challenge after Vice President Kamala Harris replaced President Joe Biden in July as the Democratic presidential nominee.
He's now at the forefront of a growing class of Silicon Valley billionaires championing a libertarian movement as a backlash to the California region's historically liberal ideology - which Musk now derides as a “woke mind virus.” The fortunes of Tesla could rise or fall depending on Trump's treatment of the diverse array of subsidies, policies and regulatory schemes for electric and autonomous vehicles. Democratic administrations have historically championed many such pro-EV policies, with Tesla's support. Musk could potentially now protect them despite the Republican party’s traditional rejection of EVs - and Trump’s ridicule of Biden’s EV policy on the campaign trail.
There are no nationwide regulations governing how autonomous vehicles can be deployed. That means operators have to deal with different regulations in each state. Musk bemoaned the challenges of the state-by-state regulatory landscape in a Tesla earnings call last month and advocated for one federal approval process.
At his brain-implant startup Neuralink, Musk has long complained that the U.S. Food and Drug Administration approval process has slowed the firm from implanting the device in humans. Musk could use his rising clout in a Trump administration to cut through some of the safety-related approvals in that process, according to a source familiar with the company’s operations.
NASA and other agencies often try to avoid alienating the company, said a federal official who is familiar with the company’s government interactions and spoke on condition of anonymity. “NASA needs SpaceX more than SpaceX needs NASA,” the official said. Musk has nonetheless excoriated the government for trying to enforce the rules even as his company has moved faster than competitors. In an interview before the election, he described federal enforcement as overly harsh and said he aimed to get rid of “insane” regulations.
Elon Musk Spacex Tesla Neuralink Brain Chips
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