Investors Marc Andreessen and David Sacks Draw Attention
"Likely to Exercise Significant Power Behind the Scenes"
With the inauguration of Donald Trump's second administration scheduled for next month, key figures in Silicon Valley who have ties with President-elect Trump are gaining attention. In addition to Elon Musk, Tesla CEO and the so-called 'first buddy' shaking up the political scene, individuals supporting Trump across the tech industry are increasingly likely to hold key positions in the upcoming administration.
President-elect of the United States Donald Trump (right in the photo) and Elon Musk, CEO of Tesla Photo by AP Yonhap News
Bloomberg recently reported that Silicon Valley figures are positioned everywhere, from providing advice close to Trump to holding official roles within the administration. Bloomberg noted, "It remains unclear how much influence each of them will wield," but assessed that "technology industry leaders could exercise considerable power behind the scenes."
The most prominent figure is undoubtedly CEO Musk. As co-head of the newly established Department of Government Efficiency (DOGE) in Trump's second administration, he has announced plans to consolidate various government agencies and cut budgets. During Trump's opposition to the temporary budget bill necessary for government operations, Musk led attacks by posting over 150 critical messages on the social networking service X within two days. As an entrepreneur running six companies including Tesla and SpaceX, he is now said to be shaking up the U.S. political scene as well. Some even mention Musk as a potential candidate for the next Speaker of the House.
Mark Andreessen, co-founder of Andreessen Horowitz, a famous Silicon Valley venture capital firm (Photo by Andreessen's own SNS)
Besides Musk, there are others in Silicon Valley who have stepped into roles as Trump's technology advisors. Marc Andreessen, co-founder of the well-known Silicon Valley venture capital firm Andreessen Horowitz, serves as an advisor to Trump. Since last month’s election, he has spent time at Trump’s Mar-a-Lago residence offering various counsel. However, he is reportedly not interested in joining the administration.
Andreessen publicly stated that he supported Trump to create a market favorable to startups. This is partly because Coinbase, one of his major investments, was targeted by the Securities and Exchange Commission (SEC) during the four years of the Joe Biden administration. Andreessen has voiced the need for reduced regulations in mergers and acquisitions (M&A) and cryptocurrency sectors.
Unlike Andreessen, some Silicon Valley figures have directly entered Trump’s second administration. David Sacks, former Chief Operating Officer (COO) of PayPal and founder of the venture capital firm Craft Ventures, was appointed earlier this month as the AI and cryptocurrency czar in the second Trump administration. He also leads the President’s Council of Advisors on Science and Technology.
Sacks, who hosted fundraising events supporting Trump during this election, is considered part of Trump’s inner circle. He hosts the tech podcast 'All-In Podcast' and was an early COO of PayPal, making him a member of the 'PayPal Mafia' alongside Musk. In 2008, he founded the enterprise social media platform Yammer, which was sold to Microsoft in 2012.
Additionally, Hamit Dylan, a California Republican National Committee female member and founder of the Dylan Group law firm, and Jacob Helberg, advisor at big data analytics startup Palantir Technologies, are expected to represent Silicon Valley’s voice in the second Trump administration. Dylan is slated for a key role at the Department of Justice, while Helberg is expected to hold a significant position at the State Department.
Bloomberg assessed, "Trump’s new technology advisors will wield power simply by having him listen to their voices," adding that they could significantly influence policies on AI safety, cryptocurrency, taxation, and regulation.
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