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What Donald Trump's Victory Means for Elon Musk and Big Tech | Pivot

November 08, 2024 / 10:56

This episode discusses reactions from tech leaders like Mark Zuckerberg, Tim Cook, and Jeff Bezos to Donald Trump's political comeback. The conversation highlights the motivations behind their public statements and the implications for their businesses.

Mark Zuckerberg, Tim Cook, and others offered congratulations to Trump, with Mark Cuban's response noted as particularly classy. Jeff Bezos's comments were more effusive, raising concerns about his dual role as a tech leader and owner of the Washington Post.

The discussion shifts to Peter Thiel's influence, with the hosts suggesting he is a key player behind the scenes, shaping political outcomes and supporting candidates like J.D. Vance.

Elon Musk's financial support for Trump is analyzed, with the hosts debating the potential benefits for Tesla and SpaceX. They also discuss Musk's future relationship with Trump and the possibility of conflict between the two.

The episode concludes with a personal anecdote about gambling on political outcomes, illustrating the unpredictable nature of politics and investment.

TLDR

Tech leaders react to Trump's comeback, revealing motivations and potential conflicts in their relationships with him.

Episode

10:56
00:00:00
big Tech leaders are taking to social media of course to congratulate Donald Trump this is this is typical let's just
00:00:05
start off with that Mark Zuckerberg Tim Cook Sai Nela sunar Pai and Sam mman wished Trump well I thought they were
00:00:12
pretty anodin so did um Mark Cuban he was like godspeed You know what I mean he was like you won fair and square
00:00:18
which I thought was fair I thought that was classy of him to do so he didn't like slavishly say something the person
00:00:24
who did Jeff Bezos was quite different from the others um he was on the first to kiss the ring calling Trump's win an
00:00:31
extraordinary political comeback and decisive Victory it it had it did not have a tone of someone who owns the
00:00:37
Washington Post he's the only one who actually has another thing he's got to think about which he didn't at all in
00:00:44
any way so I thought that was problematic and it was much more effusive than the others um you know
00:00:49
they all want to work with this Administration they've done it before um they don't want to be in his crosshairs
00:00:54
and they'd like to get rid of uh all the different investigations and and things
00:00:58
like that although a lot of Republicans like these investigations very much and so that's a really interesting uh push
00:01:05
back um talk a little bit about these uh CEOs obviously you more than more than anyone Tech CEOs weit in they're smart
00:01:12
to do it Cara he responds to this type of obsequious flattery and if they're they're they're focused on their
00:01:19
shareholders they're smart to do it and it's it you kind of have to you throw up
00:01:24
a little bit in your mouth when when it's more than anything just than just a polite congratulations but if you
00:01:29
reverse engineered to shareholder value they're smart to do it just a lot of foreign leaders pretend that he's really
00:01:35
interesting and and that they're fascinated with him and he's going to get more he's going to get
00:01:41
more you know when when you're courting someone and they tell you that they're really into jewelry or baseball trading
00:01:48
cards and that they will like you if you buy them these things you buy them these
00:01:53
things and he's made it clear that if you say nice things about him it works and um so I think they're smart to do it
00:02:01
yeah I agree but I thought Bezos was a little bit abusive compare if you could put them next to each other it's really
00:02:06
quite a different tone and he does also own the Washington Post he might have been a little less it's around it's all
00:02:12
about money The Washington Post is nothing but I understand for right now he shouldn't own it then he shouldn't
00:02:18
own it then stop owning something where you have to we're talking about should versus is he Jeff Bezos is all about
00:02:24
money he already he already did that already with the dumping the uh endorsement so I just felt like he
00:02:31
should have maybe been a little less kiss assy anything about the Peter teal factor I think he's the quiet one here
00:02:36
mus gets all the we're going to talk about Elon in a second but I think Peter teal is the one the real Mastermind here
00:02:42
in so many ways um and I know people I thought he clocked Trump early um and was in there the last election I think
00:02:51
he clocked Vance um I think he's been quiet he doesn't need all the attention the way uh musk does I think he's far
00:02:58
smarter than Elon Musk in many ways um and I think he's all roads lead to Peter teal in this regard even though it
00:03:06
seemed like he was out of the election right but I don't I feel like is every one of his tenants is here is present
00:03:13
here you you first highlighted this to me and it struck me as something I hadn't I just hadn't thought about it
00:03:19
not at least it I hadn't connected the dots the way you had and I've thought about it more and more and I think what
00:03:23
you're saying makes sense because I mean here's the scary thing with Trump's age
00:03:28
and body mass index there's about a one in three chance he leaves the White House feed first you know in four years
00:03:35
and 2 months an obese what is he 78y old man it would be very hard to get life insurance and that puts a guy in the
00:03:43
White House who will never utter one word to Peter teal and that word is no he owes everything to Peter teal he
00:03:51
that's how he got to be a senator that's how he got the VP spot and so if Peter Teal calls him and says I need you to do
00:03:58
away with this tax or put a tariff here or deregulate this or create a floating island where billionaires don't have to
00:04:05
pay tax or we totally ban the following activities or so Vance Vance if he can will do it I I
00:04:16
just don't think Vance could ever say no to Peter he is where he is he is one heartbeat from the presidency because
00:04:23
not because of an impressive business career not because he's a great politician because of Peter teal yep yep
00:04:30
that's the one to watch and even though Elon as usual the circus clown likes to take all the attention as Bloomberg put
00:04:36
Elon is about to find out what $130 million for Trump gets him we mentioned the Tesla stock surge that's added 26
00:04:43
billion to his net worth but Elon stands to benefit in a number of other ways including government efficiency
00:04:48
commission role EV and autonomous driving policies that benefit Tesla and more government contracts for SpaceX uh
00:04:55
Tom has previously pledged his support for elon's goal of sending a rocket to Mars um that one I don't mind so much I
00:05:01
honestly don't and as I mentioned I think Elon merges x with true social so I also think they're going to have a
00:05:07
falling out I really feel like this is coming if I had to make any one prediction that's what I feel like Peter
00:05:14
is very quiet in the background and gets exactly what he wants Elon can't help himself and neither can Trump and
00:05:20
Trump's the president so thoughts well look this arguably you could say that Musk $119
00:05:31
million in donations to Trump were one of the best investments that's ever been made he made it over approximately 3 or
00:05:37
6 months and in exchange his net worth has gone up $15 billion just from his Tesla shares which skyrocketed on on
00:05:45
news that Trump was retaking the White House so if if someone said to any billionaire or any institution or any
00:05:51
hedge fund uh here's 9 million if you give us $119 million we think if the markets are right there's a two 23
00:06:00
chance you're going to get 15 billion back yep so you got to give it to the guy the whole best best investment of
00:06:08
the year was must dollar uh uh his his $19 million investment in the Trump campaign yeah because he was NE if she
00:06:16
had won he was never going to get that dinged for it also no so yeah that's exactly right 15 billion on 119 million
00:06:23
that's the best trade of 2024 yeah so what what's going to happen next now well so I need to disclose we talked
00:06:31
about this I was planning you know under see above got it wrong I thought poly Market the gambling site which had it
00:06:39
was 4060 own by Peter teal or was invested in by Peter teal I didn't know that so 4060 Harris to Trump's
00:06:46
likelihood of being elected so you were going to get two and a half to one I saw
00:06:49
that as asymmetric upside because I thought it was a coin flip according to the polls that I saw so I was I was
00:06:55
going to take $400,000 and put it on Harris thinking I could get a million back and I want to
00:07:01
be clear for people listening this is not investing this is gambling and I can afford to lose that and it would ruin
00:07:06
maybe an afternoon but it wouldn't have any impact on my life and I don't want to in any way tell people that they
00:07:11
should be doing this so but I was planning to do it so I went to the site signed up for it wait till Harris went
00:07:17
down to 38 then up to 42 and the site said you can't be a US citizen and then it said you can transfer money in from
00:07:25
the UK so I could not figure out how to get one of these betting sites up so I went to a different different strategy I
00:07:30
decided to I sold I did a a call a caller call strategy on Donald Trump media and that is I thought if this
00:07:40
stock if he loses the stock goes below 10 if he wins it could Skyrocket but I also thought if he wins this is no
00:07:49
longer a prediction vessel it's just a shitty company and I actually thought there's a chance it might go down even
00:07:54
if he win so MH I sold calls at 20 bucks a share way way into the money thinking this
00:08:03
thing could crash there's a good likelihood it could crash but I was worried well what if something [ __ ]
00:08:07
crazy happens and it goes to 400 and I owe someone $8 million who I sold these calls to so I bought calls way out of
00:08:16
the money at 60 I got $20 in premium for buying or selling calls at 20 I got six
00:08:22
bucks I cost me six bucks to buy calls at 60 so my downside was limited to like two and a half million bucks my upside
00:08:29
capped at 1 and a. half million and what's happened is he won the stock spiked I'm like oh [ __ ] bad day for
00:08:35
Scott but since then the strategy around it's no longer a tracking stock it's just a shitty company now it's come down
00:08:44
I think it opened it about 31 bucks today yeah it's going down so I got very lucky it's better to be lucky than good
00:08:50
I was going to make a straight wager on Harris and couldn't because I'm in the UK and I'm impatient with websites can't
00:08:55
use it yeah that's right yeah so this this kind of I think it's called called a call a collared call strategy so far
00:09:03
so far is working out because Donald Trump media I think people are waking up and going okay now what this is a shitty
00:09:08
little company yeah that's no longer no longer a prediction machine or gambling it's basically shares or ownership in a
00:09:17
company that has no revenues but is hemorrhaging money yeah interesting we'll wait and see for you but anyway
00:09:23
Peter teal uh has and along with the founder of uh ethereum raised money for poly market last earlier this year just
00:09:31
you know he's involved in that one too um it's interesting times but but musk and Trump falling out thought real quick
00:09:38
thought then we'll move on you know more about this than I do Cara what it's an interesting Theory why do you think
00:09:44
because you there was a movie with jeanclaude vanam where the future and the past person could never come
00:09:49
together was called time cop I recommend it to everybody and you couldn't ever be
00:09:54
in the same room with your future self and your present self or your past self whatever cuz would blow up the world
00:10:00
can't take that in the same place and at the very end the the villain gets into a
00:10:06
he gets them to get in a room together and then everything breaks loose and they blow up essentially I don't quite
00:10:11
understand it whatever I think these people can't coexist together in the same room for much for too long that's
00:10:17
my that's my sense maybe I'll be completely wrong but I feel like that Trump likes the attention and Elon likes
00:10:25
the attention and there's only so much attention to go around and if the Remember When Bannon got kicked out when
00:10:30
he got all the attention as being the puppet master of trump and then Bannon got and now he didn't get totally kicked
00:10:35
to the curb he kept getting brought back but kicked to the curb and brought back
00:10:39
he kicked Bannon to the curb very early we forget this uh in the Trump administration because he sucked up all
00:10:45
the oxygen so Elon might be very smart to not suck up all the oxygen

Episode Highlights

  • Tech Leaders Congratulate Trump
    Big Tech figures like Zuckerberg and Cook offer their congratulations to Trump.
    “This is typical, let's just start off with that.”
    @ 00m 03s
    November 08, 2024
  • Bezos's Controversial Praise
    Jeff Bezos's effusive praise for Trump raises eyebrows among other CEOs.
    “He was the first to kiss the ring.”
    @ 00m 29s
    November 08, 2024
  • The Peter Thiel Factor
    Peter Thiel's influence looms large in Trump's political maneuvering.
    “All roads lead to Peter Thiel in this regard.”
    @ 03m 04s
    November 08, 2024
  • Musk's Investment Strategy
    Elon Musk's $119 million donation to Trump pays off significantly.
    “The best trade of 2024 was Musk's investment in Trump.”
    @ 06m 23s
    November 08, 2024

Episode Quotes

  • Godspeed, you won fair and square.
    What Donald Trump's Victory Means for Elon Musk and Big Tech | Pivot
  • It's better to be lucky than good.
    What Donald Trump's Victory Means for Elon Musk and Big Tech | Pivot

Key Moments

  • Bezos's Praise00:24
  • Thiel's Influence02:40
  • Musk's Gamble05:31

Tension Over Time

Words per Minute Over Time

Vibes Breakdown