Yahoo Finance I’m an Economist: Here’s My Prediction for the Tech Sector If Trump Wins the Election
The 2024 election is coming up and one of the questions on people’s minds is how the two candidates will handle the tech sector.
Deborah Perry Piscione knows a lot about money and technology. She spent 18 years in federal policy, including working on Capitol Hill and the White House, and has now been in Silicon Valley for 18 years. She’s also the CEO of the Work3 Institute, an advisory firm based on the forthcoming Harvard Business Review book, “Employment Is Dead: How Disruptive Technologies Are Revolutionizing the Way We Work.”
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Here’s what she thinks might happen to technology in America if Donald Trump becomes president again.
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Tougher on China’s Tech
Piscione thinks Trump will be harder on China’s technology companies.
“If Trump were to win the 2024 election, his technology priorities might include an escalation of technological competition with China,” she said. “Trump might expand bans or restrictions on Chinese tech companies operating in the U.S. or accessing U.S. technology, further decoupling the U.S. and Chinese tech sectors.”
She also talked about a big problem in Silicon Valley: “Moreover, a critical issue likely to come under scrutiny is the influx of foreign investment in strategic tech hubs, particularly Chinese investment in Silicon Valley real estate.”
She believes Trump might make new rules about who can buy land in important tech areas.
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Changing How Social Media Works
Piscione believes Trump will try to change how social media companies are run.
“A significant push to reshape social media regulation,” she shared. “This could involve major changes to Section 230, potentially reducing content moderation powers of major platforms and increasing their liability for user-generated content.”
In plain language, social media companies might have to be more careful about what people post on their websites.
Making Internet Faster
Trump might also focus on making internet connections faster.
Piscione said there could be “[a] strong focus on advancing 5G and 6G technologies. This could include rapid deployment of 5G networks nationwide, allocating more spectrum for these technologies, providing tax incentives for infrastructure investment, and increasing funding for 6G research to maintain U.S. leadership in telecommunications.”
This means trying to make America the best at fast internet.
Why This Election Matters
Piscione believes this election could change how America handles technology.
“The nation that leads in critical technologies such as artificial intelligence, quantum computing, and advanced telecommunications will likely hold significant economic and geopolitical advantages,” she shared.
In other words, the country with the best technology might have more power in the world.
If Trump wins, Piscione thinks there might be big changes in how America deals with other countries about technology.
She said, “As technology increasingly becomes a tool of soft power and economic leverage, it will play a central role in diplomatic relations, alliance formations, and global governance structures.”
Technology could affect how America gets along with other countries.
“The elected leadership will be tasked with navigating complex issues such as data privacy, cybersecurity, and the ethical implications of emerging technologies, all while fostering an environment that promotes innovation and maintains economic competitiveness,” she said.
So, whoever becomes president will be tasked with keeping information safe and helping American tech companies grow.
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This article originally appeared on GOBankingRates.com: I’m an Economist: Here’s My Prediction for the Tech Sector If Trump Wins the Election
