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Time of India
3 days ago
- Automotive
- Time of India
If Elon Musk and President Donald Trump divorce, who gets Silicon Valley?
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Last year, Elon Musk was the Pied Piper of support for Donald Trump among Silicon Valley power by one, tech billionaires close to Musk who had either backed Democrats or avoided the political scrum put their money and their time behind the former president's bid to reclaim the White House But the meltdown of the relationship between Trump and Musk on Thursday has thrown that cosiness into question. In the coming days, the billionaires who followed Musk to Washington may be forced to decide whose side they are on in this suddenly personal Silicon Valley, what appeared to be a once-in-a-lifetime opportunity to team up with decision-makers in Washington is looking precarious. Musk was the keystone of the tech industry's relationship with the Trump administration. Without him, it could be up to lesser-known figures, such as venture capitalist David Sacks , a close friend of Musk who has become the Trump administration's artificial intelligence and crypto czar, to maintain those ties."This is a tale as old as time," said Venky Ganesan, a partner at venture capital firm Menlo Ventures. "Like Icarus, Elon is finding out that if you fly too close to the sun, your wax melts and you crash."Even before Musk announced that he was leaving Washington, there were growing questions about what exactly the tech industry's embrace of the Trump White House was yearslong attempt by the Justice Department to break up Google? Still on track. The Federal Trade Commission's pursuit of Meta , Facebook's parent company? That just wrapped up in a Washington courtroom and is now in the hands of a federal judge. Tariffs on imported goods that could hurt device makers like Apple? Trump seems more determined than ever to see them through."Much better to be aligned with principles than personalities," Ganesan added. "A lesson tech titans might want to learn."Representatives for the White House and Sacks did not immediately respond to requests for comment. Musk did not return an email request seeking 2024, many of the tech industry's boldface names threw their support and hundreds of millions of dollars behind Trump, mainly because he promised to back away from regulating the cryptocurrency industry and keep the federal government's hands off artificial capitalist partners Marc Andreessen and Ben Horowitz surprised many when they announced they were supporting Trump, though Horowitz changed his mind when former Vice President Kamala Harris, a personal friend, entered the race. (He said, however, that their venture firm still endorsed Trump.) Many of their colleagues, such as the tech mogul hosts of the popular All-In Podcast, which includes Sacks, also endorsed them, Trump has kept up his end of the bargain. He has not only pushed for the deregulation of crypto markets, his family's company has jumped headfirst into them. And Trump's domestic policy bill that angered Musk even contains a provision that would block states from regulating tech industry leaders have not had as much luck. At Trump's inauguration, Apple's Tim Cook, Meta's Mark Zuckerberg, Amazon's Jeff Bezos, Google's Sundar Pichai and Musk formed a Mount Rushmore of tech bosses in the crowd behind the new president. Sergey Brin, a Google co-founder who once raced to the airport in San Francisco to protest the travel restrictions of Trump's first administration, was also there. So was OpenAI's Sam Altman, a fellow travel restriction protester. Jensen Huang, CEO Nvidia and relative newcomer to presidential circles, did not attend the inauguration but traveled to Trump's Mar-a-Lago resort in Florida to talk AI results have been mixed. For a while, Cook appeared to have talked Trump out of the tariffs on Chinese imports that would have badly hurt Apple. But Trump changed his mind and created a different set of tariffs that directly targeted Apple. Huang has been blocked from selling chips to China over national security concerns but was awarded a license to sell hundreds of thousands of chips in the Middle East in data centre deals that also brought Altman's company to the Secretary Howard Lutnick told a room of AI leaders, lobbyists and lawmakers this week that the administration would invite foreign investment into AI data centres, reversing Biden administration was speaking at an event hosted by Washington AI Network and sponsored by Meta, Amazon, OpenAI, Microsoft and TikTok, where he announced the administration would rename the U.S. Safety Institute to the centre for AI Standards and Innovation to emphasize growth of the industry over regulation."America must lead in AI, and that means embracing innovation while securing our infrastructure," Lutnick said. "The new centre for AI Standards and Innovation will help ensure developers have clear, trusted guidelines -- without unnecessary regulation -- so we can stay ahead in the global AI race."But if Musk's all-out hostility toward Trump continues, it is difficult to say how Trump will treat Musk's companies and Silicon Valley. Until this past year, Trump showed more interest in old industries like steel and cars and was critical of the tech industry's biggest companies -- as well as a few of the smaller ones. Many Trump supporters are still suspicious that Silicon Valley's peacemaking is just opportunism, and would be happy to see him become more rift with Trump could directly affect efforts in Washington to benefit his companies. At the Federal Communications Commission, SpaceX has intensely lobbied for more access to spectrum for its Starlink satellite wireless service. FCC Chair Brendan Carr has been a vocal supporter of Musk's satellite strategy and his business. At a SpaceX launch in November, Carr posted a photo of the launch with the words, "It's time to unleash America's space economy."Musk saw an opportunity after his Starlink satellite service was shut out of the $42.5 billion Broadband Equity Access and Deployment Program created during the Biden administration, which favored fiber internet service over satellite in hard-to-reach rural much of that is up in the air, and Trump has threatened to target the many government contracts held by Musk's companies."This has escalated very quickly, so this rupture absolutely could matter," said Blair Levin, of New Street Research and a former chief of staff to the FCC. Musk's satellite ambitions are tied up in policy debates in federal agencies, Levin said, and "politically it is very easy to tweak things in ways that are very unhelpful to Musk."In an update on the social platform X on Thursday afternoon, Musk posted a video of Trump standing next to a bright red Tesla, parked in front of the White House."Remember this? @realDonaldTrump" Musk wrote.
Miami Herald
3 days ago
- Business
- Miami Herald
If Elon Musk and President Trump divorce, who gets Silicon Valley?
SAN FRANCISCO -- Last year, Elon Musk was the Pied Piper of support for Donald Trump among Silicon Valley power brokers. One by one, tech billionaires close to Musk who had either backed Democrats or avoided the political scrum put their money and their time behind the former president's bid to reclaim the White House. But the meltdown of the relationship between Trump and Musk on Thursday has thrown that coziness into question. In the coming days, the billionaires who followed Musk to Washington may be forced to decide whose side they are on in this suddenly personal fight. For Silicon Valley, what appeared to be a once-in-a-lifetime opportunity to team up with decision-makers in Washington is looking precarious. Musk was the keystone of the tech industry's relationship with the Trump administration. Without him, it could be up to lesser-known figures, such as venture capitalist David Sacks, a close friend of Musk who has become the Trump administration's artificial intelligence and crypto czar, to maintain those ties. 'This is a tale as old as time,' said Venky Ganesan, a partner at venture capital firm Menlo Ventures. 'Like Icarus, Elon is finding out that if you fly too close to the sun, your wax melts and you crash.' Even before Musk announced that he was leaving Washington, there were growing questions about what exactly the tech industry's embrace of the Trump White House was accomplishing. The yearslong attempt by the Justice Department to break up Google? Still on track. The Federal Trade Commission's pursuit of Meta, Facebook's parent company? That just wrapped up in a Washington courtroom and is now in the hands of a federal judge. Tariffs on imported goods that could hurt device makers like Apple? Trump seems more determined than ever to see them through. 'Much better to be aligned with principles than personalities,' Ganesan added. 'A lesson tech titans might want to learn.' Representatives for the White House and Sacks did not immediately respond to requests for comment. Musk did not return an email request seeking comment. Throughout 2024, many of the tech industry's boldface names threw their support and hundreds of millions of dollars behind Trump, mainly because he promised to back away from regulating the cryptocurrency industry and keep the federal government's hands off artificial intelligence. Venture capitalist partners Marc Andreessen and Ben Horowitz surprised many when they announced they were supporting Trump, though Horowitz changed his mind when former Vice President Kamala Harris, a personal friend, entered the race. (He said, however, that their venture firm still endorsed Trump.) Many of their colleagues, such as the tech mogul hosts of the popular All-In Podcast, which includes Sacks, also endorsed Trump. For them, Trump has kept up his end of the bargain. He has not only pushed for the deregulation of crypto markets, his family's company has jumped headfirst into them. And Trump's domestic policy bill that angered Musk even contains a provision that would block states from regulating AI. Other tech industry leaders have not had as much luck. At Trump's inauguration, Apple's Tim Cook, Meta's Mark Zuckerberg, Amazon's Jeff Bezos, Google's Sundar Pichai and Musk formed a Mount Rushmore of tech bosses in the crowd behind the new president. Sergey Brin, a Google co-founder who once raced to the airport in San Francisco to protest the travel restrictions of Trump's first administration, was also there. So was OpenAI's Sam Altman, a fellow travel restriction protester. Jensen Huang, CEO Nvidia and relative newcomer to presidential circles, did not attend the inauguration but traveled to Trump's Mar-a-Lago resort in Florida to talk AI chips. Their results have been mixed. For a while, Cook appeared to have talked Trump out of the tariffs on Chinese imports that would have badly hurt Apple. But Trump changed his mind and created a different set of tariffs that directly targeted Apple. Huang has been blocked from selling chips to China over national security concerns but was awarded a license to sell hundreds of thousands of chips in the Middle East in data center deals that also brought Altman's company to the table. Commerce Secretary Howard Lutnick told a room of AI leaders, lobbyists and lawmakers this week that the administration would invite foreign investment into AI data centers, reversing Biden administration restrictions. He was speaking at an event hosted by Washington AI Network and sponsored by Meta, Amazon, OpenAI, Microsoft and TikTok, where he announced the administration would rename the U.S. Safety Institute to the Center for AI Standards and Innovation to emphasize growth of the industry over regulation. 'America must lead in AI, and that means embracing innovation while securing our infrastructure,' Lutnick said. 'The new Center for AI Standards and Innovation will help ensure developers have clear, trusted guidelines -- without unnecessary regulation -- so we can stay ahead in the global AI race.' But if Musk's all-out hostility toward Trump continues, it is difficult to say how Trump will treat Musk's companies and Silicon Valley. Until this past year, Trump showed more interest in old industries like steel and cars and was critical of the tech industry's biggest companies -- as well as a few of the smaller ones. Many Trump supporters are still suspicious that Silicon Valley's peacemaking is just opportunism, and would be happy to see him become more hostile. Musk's rift with Trump could directly affect efforts in Washington to benefit his companies. At the Federal Communications Commission, SpaceX has intensely lobbied for more access to spectrum for its Starlink satellite wireless service. FCC Chair Brendan Carr has been a vocal supporter of Musk's satellite strategy and his business. At a SpaceX launch in November, Carr posted a photo of the launch with the words, 'It's time to unleash America's space economy.' Musk saw an opportunity after his Starlink satellite service was shut out of the $42.5 billion Broadband Equity Access and Deployment Program created during the Biden administration, which favored fiber internet service over satellite in hard-to-reach rural areas. Now much of that is up in the air, and Trump has threatened to target the many government contracts held by Musk's companies. 'This has escalated very quickly, so this rupture absolutely could matter,' said Blair Levin, of New Street Research and a former chief of staff to the FCC. Musk's satellite ambitions are tied up in policy debates in federal agencies, Levin said, and 'politically it is very easy to tweak things in ways that are very unhelpful to Musk.' In an update on the social platform X on Thursday afternoon, Musk posted a video of Trump standing next to a bright red Tesla, parked in front of the White House. 'Remember this? @realDonaldTrump' Musk wrote. This article originally appeared in The New York Times. Copyright 2025
New York Times
4 days ago
- Business
- New York Times
If Elon Musk and President Trump Divorce, Who Gets Silicon Valley?
Last year, Elon Musk was the Pied Piper of support for Donald J. Trump among Silicon Valley power brokers. One by one, tech billionaires close to Mr. Musk who had either backed Democrats or avoided the political scrum put their money and their time behind the former president's bid to reclaim the White House. But the meltdown of the relationship between President Trump and Mr. Musk on Thursday has thrown that coziness into question. In the coming days, the billionaires who followed Mr. Musk to Washington may be forced to decide whose side they are on in this suddenly personal fight. For Silicon Valley, what appeared to be a once-in-a-lifetime opportunity to team up with decision makers in Washington is looking precarious. Mr. Musk was the keystone of the tech industry's relationship with the Trump administration. Without him, it could be up to lesser-known figures, such as the venture capitalist David Sacks, a close friend of Mr. Musk who has become the Trump administration's A.I. and crypto czar, to maintain those ties. 'This is a tale as old as time,' said Venky Ganesan, a partner at the venture capital firm Menlo Ventures. 'Like Icarus, Elon is finding out that if you fly too close to the sun, your wax melts and you crash.' Want all of The Times? Subscribe.
Yahoo
26-05-2025
- Business
- Yahoo
Monarch secures $75m to expand financial wellness platform
Monarch, a personal finance application, has garnered $75m in a Series B funding round, aiming to speed up its goal of taking financial wellness to the masses. The investment round was jointly led by FPV Ventures and Forerunner Ventures, with participation from existing investors Menlo Ventures, Accel, SignalFire, and Clocktower Ventures. The company plans to use the latest funding to expand its team and platform. In a blog post, Monarch Money Co-founder and CEO Val Agostino said: 'We started Monarch six years ago with a clear but ambitious mission to solve this problem for all households, not just the wealthy. We strongly believe that everyone – no matter where they're starting – can improve their financial situation with the right information, tools, and guidance. 'We are just getting started and have big plans for evolving the Monarch platform on the journey toward unlocking financial wellness for all households.' Monarch's platform offers a comprehensive view of personal finances by connecting with a wide array of financial institutions. This enables users to monitor their financial status through intuitive graphs that display net worth, cash flow, and budget progress over time. Monarch also aids users in tracking their progress against financial goals. The platform also fosters collaboration among partners, spouses, or financial professionals, ensuring that all parties involved can stay informed and work together on financial planning. Moreover, the offering provides personalised financial advice through an advisor feature. In a LinkedIn post, FPV Ventures co-founder and managing partner Wesley Chan said: 'Our investment in Monarch is the first investment out of our new $525M fund to back the next generation of mission-driven founders. It is also the largest initial check FPV has written into any company.' "Monarch secures $75m to expand financial wellness platform" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
‘AI is already eating its own': Prompt engineering is quickly going extinct
Just two years ago, prompt engineering was hailed as a hot new job in tech. Now it has all but disappeared. Most Read from Fast Company At the beginning of the corporate AI boom, some companies sought out large language model (LLM) translators—prompt engineers who specialized in crafting the most effective questions to ask internal AIs, ensuring optimal and efficient outputs. Today, strong AI prompting is simply an expected skill, not a stand-alone role. Some companies are even using AI to generate the best prompts for their own AI systems. The decline of prompt engineering serves as a cautionary tale for the AI job market. The flashy, niche roles that emerged with ChatGPT's rise may prove to be short-lived. While AI is reshaping roles across industries, it may not be creating entirely new ones. 'AI is already eating its own,' says Malcolm Frank, CEO of TalentGenius. 'Prompt engineering has become something that's embedded in almost every role, and people know how to do it. Also, now AI can help you write the perfect prompts that you need. It's turned from a job into a task very, very quickly.' AI jobs are just jobs now Part of the prompt engineer's appeal was its low barrier to entry. The role required little technical expertise, making it an accessible path for those eager to join a booming market. But because the position was so generalized, it was also easily replaced. Frank compares prompt engineering to roles like 'Excel wizard' and 'PowerPoint expert'—all valuable skills, but not ones companies typically hire for individually. And prompt engineers may not be the only roles fading away. Frank envisions a world where AI agents—already taking shape—replace many lower-level tasks. 'It's almost like Pac-Man just moving along and eating different tasks and different skills,' he says. AI has the potential to displace thousands of workers. Its advocates have long argued that it will create as many jobs as it destroys. Prompt engineering once seemed to support that claim—a brand-new job title born from AI. But that optimism may be misplaced. Rather than inventing entirely new roles, AI is largely reshaping existing ones. Tim Tully wasn't surprised to see prompt engineering decline. As a partner at venture capital firm Menlo Ventures, he's witnessed the AI boom firsthand, especially through the firm's investment in Anthropic. He also works closely with software developers—a profession already transformed by tools like Cursor. His view is clear: The real impact of AI lies not in boutique job creation, but in widespread productivity gains.
