The GOP wipeout wasn’t due primarily to the proximity of tech barons to Trump, but it certainly didn’t help. The barons now face a wave of public anger and the likelihood of more intense regulation. Will they change course or double down? As I predicted before, different companies will respond differently.
Elon Musk is one of the barons, of course, but he is a special case, because he just threw away $500 million in an effort to save the GOP’s bacon. Now he will be operating his business in blue Texas. Don’t expect him to change his opinions or his ways; he has leverage against the government at all levels, and he will have no qualms against using it.
The crypto industry had developed a reputation of being invincible. It invested huge sums of money in the midterms, particularly in the Senate race in Ohio. Adios, invincibility. Relations with the blue Congress are going to be very sticky.
J.D. campaigned extremely hard for Husted and Ramaswamy in Ohio. His efforts were a miserable failure. Trump is now arguing that the GOP only wins when he is at the top of the ticket. If he is right, what does it tell us about J.D.’s chances in 2028?