What a Second Trump Presidency Would Mean for Tech 7/1/24

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 1 July 2024

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Between last week’s debate and today’s Supreme Court ruling, Silicon Valley is thinking more than ever about what another Trump presidency would mean for the tech industry. A friendlier deal environment could benefit megacaps and the small to midcap software names. Gig economy names and American e-commerce would also get some relief from a lighter touch. On the flipside, the Trump short tech basket includes Temu-owner Pinduoduo and social media names.

Transcript

Click on a timestamp to play from that location

0:00.0	Well, after the Supreme Court's ruling that former President Trump is entitled to some immunity from prosecution,
0:05.0	the tech industry is thinking more than ever about what another Trump term would mean.
0:10.3	Dear Durbosa digs into that for today's tech check. Hi, D.
0:13.2	Hey, good morning, Morgan. So there is a reason the former president is seeing more
0:16.8	support, more dollars from Silicon Valley this time around. The last Trump administration was seen as
0:21.7	a whole lot less hostile to
0:23.6	attack than President Biden's current one. Looking forward a few major
0:27.0	areas that could be set to benefit if Trump wins in November. You just spoke
0:31.4	about this with your last guest, Eric Deals, broadly.
0:35.5	President Biden has appointed top and aggressive regulators to head the FTC and DOJ.
0:39.6	Lena Khan, Jonathan Cantor, they're known as antitrust, anti big tech bulldogs and
0:44.4	they've scuttled deals from Adobe's proposed acquisition of Figma to Amazon's
0:48.8	I robot. The former president, yes he talked tough on tech, but he had a lighter touch when it came to
0:55.3	intervention in M&A aligning with a broader deregulatory agenda.
0:59.9	Along those lines, a direct beneficiary would likely be live nation.
1:03.8	Biden's DOJ, the Department of Justice, is looking at breaking up that company.
1:08.1	And investors seem to think that that outcome is less likely if Trump is elected,
1:12.6	those shares up 3% on Friday after the debate,
1:15.6	up another 1% today.
1:17.5	There's also gig economy names, Uber, DoorDash, Lyft, Instacart.
1:21.1	They'd likely get some relief too from a lighter touch.
1:23.4	President Biden's Department of Labor has issued rules challenging the way that gig companies
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.