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Silicon Valley's not crying for Musk

Silicon Valley's not crying for Musk

Axios3 days ago

Few tears will be shed in Silicon Valley or at Big Tech firms over Elon Musk's precipitous fall from White House grace.
Why it matters: Musk's brief alliance with President Trump warped the usual dynamics of the relationship between America's most valuable industry and its center of political power.
Between the lines: Musk himself is widely admired in tech's corridors of power for Tesla's and SpaceX's innovations — but also widely disliked for his unfulfillable promises, erratic behavior and social media addiction.
Now that Musk is suddenly on the outs with Trump, a lot of tech leaders are quietly crossing their fingers that they can get back to dealmaking and policy-setting without worrying about a key competitor whispering in the president's ear.
Tech giants can't be sure that whoever replaces Musk as Trump's favorite geek will bring stability or regulatory relief — but Musk wasn't delivering on those fronts either.
On the other hand, any follow-through on Trump's threat to strangle the flow of federal dollars to Musk's firms would demonstrate that vendettas are the new normal.
Such targeting of one person's business empire with the full force of presidential power would send a chill down any CEO's spine, pro- or anti-Trump.
The big picture: Tech leaders see huge opportunities in Washington and government work right now.
AI is exploding, defense tech is booming, and crypto firms are chomping at the bit.
Plenty of CEOs resented what they saw as the Biden administration's hostility to deals, dedication to strict regulation and aggressive stance on antitrust.
Yes, but: The long Republican tradition of business-friendly regulatory positions has mutated into a Trumpian realpolitik.
The Trump administration has been forthright in its intention to help friends and punish enemies.
Help comes as contracts and preferential treatment by regulators; punishment comes via canceled contracts, fines and even prosecution by the Justice Department.
The terms of this week's Trump-Musk feud made starkly clear how serious Trump is about these carrot-and-stick moves.
Losers: Musk himself obviously faces not only financial losses but a reputational reckoning.
He has already alienated his liberal-left fans, who'd once been drawn to his electric vehicles.
If Trump's MAGA loyalists abandon him too, he might be left with a thinned social media fan base, a pile of sinking shares, and not much else.
Winners: Virtually any tech leader not named Musk can find satisfaction in his misfortune.
Musk's businesses are all deeply entangled with one another but rarely partner with non-Musk-owned firms.
His empire is a mostly self-contained Muskiverse, meaning its woes aren't likely to prove contagious.
There are plenty of MAGA-friendly tech firms — think Palantir and Anduril in defense tech, Meta under a newly MAGA-fied Mark Zuckerberg, or the Andreessen-Horowitz portfolio in startups — ready to step in to the Musk void in D.C. if he and the president don't patch things up.
U.S. leaders may decide it's time to broaden the supply of rockets that can launch satellites and astronauts into space beyond SpaceX — and that could benefit Jeff Bezos and his Blue Origin firm.
One of the biggest winners, even though he has largely stayed mum on the Musk/Trump fireworks, is OpenAI's Sam Altman.
Musk's role in the Trump administration gave his X.ai company an inside track on federal contracts.
Altman, who wasn't ever known to be close to Trump, surprised Musk by repackaging his giant Stargate datacenter project as a Trump deal and winning an Oval Office photo op with Trump the day after the new president's inauguration.
Altman and Musk have their own feud. Both were among the nonprofit's cofounders, and Musk has sued OpenAI, claiming that under Altman it has abandoned its original AI safety mission.
Another winner: Vice President J.D. Vance, who during Musk's White House days seemed to fade into the woodwork, has a chance to reassert his primacy as the Trump administration's ambassador to tech.
Still to be seen is where some of the other key tech players in Trumpworld — like White House adviser David Sacks — land when the firestorm subsides.
The intrigue: You won't read expressions of tech leaders' relief at Musk's D.C. exit in their posts or interviews.
There's nothing to be gained and lots to lose for most executives or investors to take sides in the Trump-Musk war of words.
That's why the only sound from tech's normally boisterous social-media gallery has been an occasional wan plea of "be nice and make up."
What's next: Trump White House dramas never end, they just go into new seasons.

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Judge Orders J&J Subsidiary to Pay $442 Million in Antitrust Lawsuit
Judge Orders J&J Subsidiary to Pay $442 Million in Antitrust Lawsuit

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Judge Orders J&J Subsidiary to Pay $442 Million in Antitrust Lawsuit

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LA Protests: National Guard Troops Have Detained Protesters (Live Updates)
LA Protests: National Guard Troops Have Detained Protesters (Live Updates)

Forbes

time22 minutes ago

  • Forbes

LA Protests: National Guard Troops Have Detained Protesters (Live Updates)

The National Guard has at times detained protesters in its deployment to Los Angeles, an official said Wednesday, as demonstrations against Immigration and Customs enforcement raids spread to other major cities. Protesters face members of the California National Guard and US Customs and Border Protection agents ... More in Los Angeles. June 11, 4:30 p.m. EDTMaj. Gen. Scott Sherman of the National Guard told reporters federal troops have made brief detainments of protesters in Los Angeles before handing them over to law enforcement for arrests, adding about 500 National Guard troops have been trained to assist immigration operations, the Associated Press reported. 5 a.m. EDTAn LAPD spokesperson told the Los Angeles Times they arrested 25 people for violating the curfew in the city's downtown area on Tuesday night. 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The governor added: 'Democracy is under assault right before our eyes — the moment we've feared has arrived.' Newsom also hit out at Trump for pardoning the perpetrators of the January 6 Capitol riots, saying: 'Trump, he's not opposed to lawlessness and violence as long as it serves him. What more evidence do we need than January 6th.' 11.30 p.m. EDTA significant portion of downtown Los Angeles is under a curfew, which was announced earlier in the evening by the city's Mayor Karen Bass, who said the restriction will be in effect from 8 p.m. to 6 a.m. local time. Bass said she has introduced to the curfew 'to stop bad actors who are taking advantage of the President's chaotic escalation,' and added: 'Law enforcement will arrest individuals who break the curfew, and you will be prosecuted.' 4:56 p.m. EDTU.S. District Judge Charles Breyer turned down Newsom's request for an emergency ruling that would have blocked federal troop deployment in Los Angeles, giving Trump until Wednesday at 2 p.m. EDT to file a response to Newsom's lawsuit (Newsom can file his response to Trump by Thursday at 12 p.m. EDT). 4:47 p.m. EDTThe Trump administration asked the judge to reject Newsom's request and allow it to respond by Wednesday, calling Newsom's attempt to block the deployment of federal troops 'legally meritless' and saying it would jeopardize the safety of Homeland Security personnel and interfere with the government's ability to carry out operations. 2:20 p.m. EDTNewsom and California Attorney General Rob Bonta, in a filing at the U.S. District Court for Northern California, requested the federal judge quickly block the Trump administration's deployment of the National Guard and Marines to Los Angeles, arguing the order is 'unlawful' as there 'is no invasion or rebellion' in the city and asking the judge to act by 4 p.m. EDT 'to prevent immediate and irreparable harm.' 11:30 a.m. EDTInterim Defense Department comptroller Bryn MacDonnell told the House Appropriations Subcommittee on Defense the cost of sending federal troops to Los Angeles was estimated at $134 million, 'which is largely just [temporary duty assignment] costs, travel, housing, food, et cetera.' 10:44 a.m. EDTHouse Speaker Mike Johnson, R-La., said Newsom should be 'tarred and feathered' for how he has handled the protests, in response to a question about calls for the governor's arrest, provoking a response from Newsom, who said Johnson gave a 'fitting threat given the GOP want to bring our country back to the 18th Century.' 8:27 a.m. EDTIn a Truth Social post, Trump claimed Los Angeles 'would be burning to the ground right now' if he didn't deploy the National Guard to the city and appeared to reference wildfires that destroyed thousands of homes earlier this year, suggesting city and state permits are 'disastrously bungled up and WAY BEHIND SCHEDULE' to rebuild. 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Hegseth was the first Trump administration official to suggest the deployment of active duty Marines to tackle the protests in an X post. 4 a.m. EDTThe Prime Minister of Australia, Anthony Albanese, on Tuesday addressed the incident involving Australian news reporter Lauren Tomasi, who was struck on her leg by a rubber bullet while covering the protests on Sunday, saying the incident was 'horrific' and claimed footage showed that police had 'targeted' the journalist. Albanese said he has raised the matter with the Trump administration, and added: 'We don't find it acceptable that it occurred, and we think that the role of the media is particularly important.' 3 a.m. EDTThe San Francisco Police Department issued a statement about the demonstrations taking place in the city in support of the Los Angeles protests and said: 'Thousands of people participated in today's demonstrations, which were overwhelmingly peaceful.' 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The Marines will aid the more than 2,000 members of the National Guard Trump deployed to Los Angeles, according to CNN. 2 p.m. EDTBonta announced he is filing a lawsuit against Trump and Defense Secretary Pete Hegseth, alleging Trump's order to deploy the National Guard to Los Angeles was 'trying to manufacture chaos and crisis on the ground for his own political ends' while federalizing the National Guard 'is an abuse of the President's authority under the law.' Bonta claims the deployment deprived California of emergency response resources, infringed on Newsom's authority and violates the state's 'sovereign right to control and have available' the National Guard. 9:40 when asked about Newsom daring Homan to arrest him, said he 'would do it if I were Tom—I think it's great,' claiming Newsom is 'grossly incompetent.' Earlier on Monday, Homan told Fox News that while 'no one's above the law,' there was 'no discussion' about arresting Newsom. 9:40 a.m. EDTWaymo removed vehicles from the downtown Los Angeles area and suspended service 'out of an abundance of caution' following guidance from the Los Angeles Police Department, though the robotaxi firm noted it was still operating in the greater Los Angeles region. At least six Waymo vehicles set ablaze Sunday and the company was in touch with the Los Angeles Police Department for an investigation, Waymo spokesperson Chris Bonelli told Forbes, as law enforcement warned burning lithium-ion batteries used in the cars release toxic gases, posing possible health risks, and to avoid the area. 8:54 a.m. EDTNewsom signaled he would sue Trump over his decision to send the National Guard into the state, alleging Trump 'flamed the fires and illegally acted.' June 9, 5 a.m. EDTAt least 60 people were arrested in San Francisco after police reportedly clashed with a group of protestors who gathered to show solidarity with the Los Angeles protestors and oppose the Trump administration's immigration crackdown and deployment of National Guard troops to quell protests. 4 a.m. EDTIn a post on his Truth Social platform Trump mentioned the LAPD's comments from the press conference about reassessing the situation about bring in the National Guard, and wrote 'He should, RIGHT NOW!!! Don't let these thugs get away with this.' In follow up posts Trump wrote: 'Looking really bad in L.A. BRING IN THE TROOPS,' and 'ARREST THE PEOPLE IN FACE MASKS, NOW!' 3:30 a.m. EDTThe LAPD told reporters at a late night press conference that it had arrested 10 people on Sunday, bring the day's total tally to 27 after adding to the California Highway Patrol's 17 arrests. LAPD Chief Jim McDonnell told reporters that he was aware of the 'deep fear and anxiety' among the immigrant community, and said the department is 'committed to transparency, accountability, and treating every Angeleno with respect, regardless of their immigration status.' When asked about the need for National Guard presence, McDonnell told reporters, 'tonight this thing has gotten out of control' but he would have to know more about their intended role before making that determination and added: 'we got to make a reassessment.' 2:30 a.m. EDTLos Angeles Police Department said an 'UNLAWFUL ASSEMBLY' declaration has been issued 'for the area of the Civic Center part of Los Angeles' and said people with with 'Cell Phones in the received the alert.' 1:30 a.m. EDTAccording to the New York Times, a man tried to aim his van at protesters near a gas station in downtown Los Angeles, but it is unclear if any people were harmed. The LAPD later told the Times that it had detained the van driver, and noted 'multiple charges to follow.' 12:30 a.m. EDTThe Los Angeles Police Department has announced that gatherings at Downtown Los Angeles have 'been declared as an UNLAWFUL ASSEMBLY,' as it ordered people to 'leave the Downtown Area immediately.' June 8, 11.45 p.m. EDTIn an interview with MSNBC, Newsom dared the Trump administration to come and arrest him in response to earlier comments by the president's border czar Tom Homan threatened to go after any official who interferes the immigration crackdown. Newsom told MSNBC, 'Come after me, arrest me, let's just get it over with, tough guy...I don't give a damn, but I care about my community.' In his interview, Newsom once again accused Trump of 'putting fuel on the fire,' with his actions and confirmed that his state will file a lawsuit against the Trump administration on Monday. 11.30 p.m. EDTCalifornia's Lt. Gov. Eleni Kounalakis told CNN that she expects state officials to file a federal lawsuit on Monday against the Trump administration's move to federalize and deploy the National Guard in Los Angeles. Kounalakis said the lawsuit will say that the president did not have the 'authority to call in the National Guard for 400 people protesting in a way that local law enforcement could clearly handle it.' Earlier in the evening, Newsom said he had made a formal request to the White House to 'rescind their unlawful deployment of troops in Los Angeles county and return them to my command,' The governor said: 'This is a serious breach of state sovereignty — inflaming tensions while pulling resources from where they're actually needed.' 4 p.m. EDTWhen asked by reporters whether he would invoke the Insurrection Act, the law that gives presidents the authority to deploy the military domestically, Trump said, 'Depends on whether or not there's an insurrection,' adding he does not think the Los Angeles protests are an insurrection, though he said there are 'violent people, and we're not going to let them get away with it.' Trump said he called Newsom and told him he had to 'take care' of the protests, otherwise he would 'send in the troops,' and he told a reporter who asked whether California officials who obstruct deportations would face federal charges: 'If officials stand in the way of law and order, yeah, they will face charges.' 1:30 p.m. EDTAbout 300 members of the National Guard have been stationed across Los Angeles so far, The New York Times reported, the first soldiers as part of the 2,000 Trump has promised to station across the city as more protests are expected to take place this afternoon. 1 p.m. EDTLos Angeles Mayor Karen Bass told the Los Angeles Times said she tried to talk to the Trump administration to 'tell them that there was absolutely no need to have troops on the ground here in Los Angeles,' stating the protests on Saturday were 'relatively minor' and 'peaceful,' with about 100 protesters. 3:22 a.m. EDTBass appeared to rebuff Trump's claim the National Guard did a 'great job' in the city, stating in a post on X that the National Guard had not yet been deployed at that time in Los Angeles, while praising Newsom and local law enforcement. 2:41 said in a late-night Truth Social post the National Guard did a 'great job' in Los Angeles, while slamming Newsom and Bass and the 'Radical Left' protesters and stating protesters will no longer be allowed to wear masks: 'What do these people have to hide, and why???' 12:14 slammed Defense Secretary Pete Hegseth for 'threatening to deploy active-duty Marines on American soil against its own citizens' as 'deranged behavior.' June 7The Los Angeles County Sheriff's Department said it had arrested two people Saturday evening for alleged assault on a police officer, stating multiple officers had been injured by a Molotov cocktail, the Los Angeles Times reported. 10:34 exhibited 'violent behavior' toward federal agents and local law enforcement, the Los Angeles County Sheriff's Department said in a statement, while clarifying it is not involved in federal law enforcement response and is instead focused on crowd and traffic control. 10:22 a post on X, Newsom said the federal government is taking over the California National Guard and deploying soldiers in Los Angeles solely to create a 'spectacle.' 10:06 announced in a post on X the Department of Defense is 'mobilizing the National Guard IMMEDIATELY to support federal law enforcement in Los Angeles,' stating Marines are standing by for deployment in case of violence. 9:17 House press secretary Karoline Leavitt announced Trump would deploy 2,000 National Guard troops to Los Angeles to address 'lawlessness,' citing protests targeting immigration officers. Similar protests have spread to other cities across the U.S., including San Francisco, New York, Chicago, Denver, Las Vegas, Philadelphia, Seattle, Boston, Santa Ana, California, and parts of Texas, including Dallas, Houston, San Antonio and Austin. At least 80 protesters were arrested in New York, while 15 were arrested in Philadelphia, more than a dozen were arrested in Austin and one was detained in Dallas. At least two police officers were injured during protests in Philadelphia. Los Angeles Metro Police officers stand on the road in front of city hall Tuesday night. People take part in an anti-ICE protest in New York City on Tuesday. Protesters walk by the Cloud Gate sculpture in Chicago on Tuesday. Los Angeles Mayor Karen Bass will hold a press conference at 2 p.m. EDT Wednesday. Protests broke out Friday and Saturday in Paramount and Compton, cities adjacent to Los Angeles, over immigration raids conducted by ICE, during which the agency detained 44 immigrants Friday and 118 immigrants Saturday, the Associated Press reported. Police and protesters clashed over the weekend, according to local reports and videos on social media, with law enforcement using tear gas and flash grenades to break up the crowds while some protesters threw rocks and lit vehicles on fire. Glendale, California, announced Sunday the city had terminated an agreement with Homeland Security and Immigration and Customs Enforcement that allowed the agencies to house federal detainees at the city's police facility. Glendale officials said the move was 'a local decision and was not made lightly,' as the city 'recognizes that public perception of the ICE contract—no matter how limited or carefully managed, no matter the good—has become divisive.' Glendale's city manager opted to end the contract after 'careful evaluation of legal, operational and community considerations,' the city said, noting the decision was not 'politically driven.' Trump reportedly said in a memo he is invoking Title 10 of the U.S. Code on Armed Services, which allows the federal government to deploy the National Guard if the United States is 'invaded or is in danger of invasion by a foreign nation,' or if there is a 'rebellion or danger of a rebellion against the authority of the Government of the United States.' Vice President JD Vance said in a post on X on Saturday night the influx of immigrants, which he called 'Biden's border crisis,' amounts to an 'invasion,' rebuffing critics who have questioned whether Trump had the authority to deploy troops. Trump's move has faced some pushback from constitutional scholars. 'For the federal government to take over the California National Guard, without the request of the governor, to put down protests is truly chilling,' Erwin Chemerinsky, dean of the University of California Berkeley School of Law, told the Los Angeles Times. The legal issues raised by Trump sending the National Guard to L.A. (Los Angeles Times)

Trump EPA moves to repeal climate rules that limit greenhouse gas emissions from US power plants
Trump EPA moves to repeal climate rules that limit greenhouse gas emissions from US power plants

The Hill

time22 minutes ago

  • The Hill

Trump EPA moves to repeal climate rules that limit greenhouse gas emissions from US power plants

WASHINGTON (AP) — The Environmental Protection Agency on Wednesday proposed repealing rules that limit planet-warming greenhouse gas emissions from power plants fueled by coal and natural gas, an action that Administrator Lee Zeldin said would remove billions of dollars in costs for industry and help 'unleash' American energy. The EPA also proposed weakening a regulation that requires power plants to reduce emissions of mercury and other toxic pollutants that can harm brain development of young children and contribute to heart attacks and other health problems in adults. The rollbacks are meant to fulfill Republican President Donald Trump's repeated pledge to 'unleash American energy' and make it more affordable for Americans to power their homes and operate businesses. If approved and made final, the plans would reverse efforts by Democratic President Joe Biden's administration to address climate change and improve conditions in areas heavily burdened by industrial pollution, mostly in low-income and majority Black or Hispanic communities. The power plant rules are among about 30 environmental regulations that Zeldin targeted in March when he announced what he called the 'most consequential day of deregulation in American history.' Zeldin said Wednesday the new rules would help end what he called the Biden and Obama administration's 'war on so much of our U.S. domestic energy supply.' 'The American public spoke loudly and clearly last November,' he added in a speech at EPA headquarters. 'They wanted to make sure that … no matter what agency anybody might be confirmed to lead, we are finding opportunities to pursue common-sense, pragmatic solutions that will help reduce the cost of living … create jobs and usher in a golden era of American prosperity.' Environmental and public health groups called the rollbacks dangerous and vowed to challenge the rules in court. Dr. Lisa Patel, a pediatrician and executive director of the Medical Society Consortium on Climate & Health, called the proposals 'yet another in a series of attacks' by the Trump administration on the nation's 'health, our children, our climate and the basic idea of clean air and water.' She called it 'unconscionable to think that our country would move backwards on something as common sense as protecting children from mercury and our planet from worsening hurricanes, wildfires, floods and poor air quality driven by climate change.' 'Ignoring the immense harm to public health from power plant pollution is a clear violation of the law,' added Manish Bapna, president and CEO of the Natural Resources Defense Council. 'If EPA finalizes a slapdash effort to repeal those rules, we'll see them in court.' The EPA-targeted rules could prevent an estimated 30,000 deaths and save $275 billion each year they are in effect, according to an Associated Press examination that included the agency's own prior assessments and a wide range of other research. It's by no means guaranteed that the rules will be entirely eliminated — they can't be changed without going through a federal rulemaking process that can take years and requires public comment and scientific justification. Even a partial dismantling of the rules would mean more pollutants such as smog, mercury and lead — and especially more tiny airborne particles that can lodge in lungs and cause health problems, the AP analysis found. It would also mean higher emissions of the greenhouse gases driving Earth's warming to deadlier levels. Biden, a Democrat, had made fighting climate change a hallmark of his presidency. Coal-fired power plants would be forced to capture smokestack emissions or shut down under a strict EPA rule issued last year. Then-EPA head Michael Regan said the power plant rules would reduce pollution and improve public health while supporting a reliable, long-term supply of electricity. The power sector is the nation's second-largest contributor to climate change, after transportation. In its proposed regulation, the Trump EPA argues that carbon dioxide and other greenhouse gases from fossil fuel-fired power plants 'do not contribute significantly to dangerous pollution' or climate change and therefore do not meet a threshold under the Clean Air Act for regulatory action. Greenhouse gas emissions from coal and gas-fired plants 'are a small and decreasing part of global emissions,' the EPA said, adding: 'this Administration's priority is to promote the public health or welfare through energy dominance and independence secured by using fossil fuels to generate power.' The Clean Air Act allows the EPA to limit emissions from power plants and other industrial sources if those emissions significantly contribute to air pollution that endangers public health. If fossil fuel plants no longer meet the EPA's threshold, the Trump administration may later argue that other pollutants from other industrial sectors don't either and therefore shouldn't be regulated, said Meghan Greenfield, a former EPA and Justice Department lawyer now in private practice. The EPA proposal 'has the potential to have much, much broader implications,' she said. Zeldin, a former New York congressman, said the Biden-era rules were designed to 'suffocate our economy in order to protect the environment,' with the intent to regulate the coal industry 'out of existence' and make it 'disappear.' National Mining Association president and CEO Rich Nolan applauded the new rules, saying they remove 'deliberately unattainable standards' for clean air while 'leveling the playing field for reliable power sources, instead of stacking the deck against them.' But Dr. Howard Frumkin, a former director of the National Center for Environmental Health and professor emeritus at the University of Washington School of Public Health, said Zeldin and Trump were trying to deny reality. 'The world is round, the sun rises in the east, coal-and gas-fired power plants contribute significantly to climate change, and climate change increases the risk of heat waves, catastrophic storms and many other health threats,' Frumkin said. 'These are indisputable facts. If you torpedo regulations on power plant greenhouse gas emissions, you torpedo the health and well-being of the American public and contribute to leaving a world of risk and suffering to our children and grandchildren.' A paper published earlier this year in the journal Science found the Biden-era rules could reduce U.S. power sector carbon emissions by 73% to 86% below 2005 levels by 2040, compared with a reduction of 60% to 83% without the rules. 'Carbon emissions in the power sector drop at a faster rate with the (Biden-era) rules in place than without them,' said Aaron Bergman, a fellow at Resources for the Future, a nonprofit research institution and a co-author of the Science paper. The Biden rule also would result in 'significant reductions in sulfur dioxide and nitrogen oxides, pollutants that harm human health,' he said.

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