Is Vance good for business?

Hi, it’s Lizette in San Francisco. A vocal contingent of Silicon Valley money men love JD Vance. Does he love them back? But first...Three t [View in browser]( [Bloomberg]( [by Lizette Chapman]( Hi, it’s Lizette in San Francisco. A vocal contingent of Silicon Valley money men love JD Vance. Does he love them back? But first... Three things you need to know today: - Silicon Valley investors are throwing money [at MAGA]( - Microsoft is under investigation for [Inflection AI hires]( - Threat of tougher US trade curbs on China [hit Japan’s tech stocks]( JD Vance’s tech agenda When Donald Trump picked JD Vance to be his running mate, it thrilled some Silicon Valley investors who saw the former venture capitalist as one of their own. “WE HAVE A FORMER TECH VC IN THE WHITE HOUSE,” Founders Fund partner Delian Asparouhov posted breathlessly [on X](, prejudging the outcome of the election. “GREATEST COUNTRY ON EARTH BABY.” Asparouhov is part of a long list of high-wattage Silicon Valley VCs who have lined up behind Trump, including Marc Andreessen, Ben Horowitz, Shaun Maguire and David Sacks. (Not to mention [Elon Musk](.) In a video on Tuesday, Horowitz said he made the pick because he thought Trump would be [better for startups](, a contingent his firm has nicknamed “little tech.” “I’m going to have a lot of friends who are probably p---ed off at me for saying anything nice about President Trump,” he said. “So here we are, and for little tech, we think Donald Trump is actually the right choice.” Despite the outpouring of techy enthusiasm, though, Vance’s relationship with the industry is complicated. He’s spent plenty of time criticizing tech’s mightiest companies, even as he’s promised to be more lenient on sectors like crypto. While the candidate is known to be willing to [change his mind](, here are a few early indicators about his policy views: Big Tech Regulation During Vance’s 2022 senate campaign, he was an outspoken critic of powerful technology companies. As my colleague Max Chafkin [writes]( for Businessweek, “Vance railed against ‘Big Tech,’ called Silicon Valley companies ‘parasitic’ and praised the Biden administration’s antitrust crackdown.” Of course, antitrust regulation may favor smaller tech companies over large ones, and even some industry advocates have [called for intervention]( on issues like app store fees. But the anti-tech message is at odds with the light-touch regulation Andreessen [has espoused](. Open-Source AI Vance has lambasted AI systems like ChatGPT for being too left wing, and said that open-source technology is the solution. He’s also been skeptical of companies pushing AI regulation, suggesting it could serve to entrench large players’ advantages. It’s a position that’s won him some [fans]( in the industry, and rankled safety advocates. “I’m not handing out favors to industrial-scale DEI bull---t because tech people are complaining about safety,” he [wrote on X]( in March. A Friend to Crypto Vance has taken an interest in cryptocurrency and positioned himself as an ally of the sector. In June, Politico reported that the Ohio senator began circulating a [draft of a legislation]( that would revamp how agencies like the Securities and Exchange Commission police the crypto market. And earlier this year, Vance voted to repeal an accounting rule that makes it hard for banks to hold digital assets. Immigration Skeptic Vance has opposed immigration, even the kind of skilled visa programs that tech companies rely on. When he ran for senate, Vance [said]( the H-1B program was part of an “unholy alliance between government and our biggest corporations.” Even Trump [recently suggested]( more support for skilled workers on a podcast with Silicon Valley VCs. Notes of disagreement probably won’t scare away tech’s Trump enthusiasts. What candidates say on the stump and what they do in office is often different. And while the industry is still largely Democratic, for some, Vance’s tech connections could be enough to win them over. Over at the All-In Podcast, where the VC industry veteran hosts call each other besties, Chamath Palihapitiya rejoiced at Vance’s nomination. “A Bestie adjacent as the VP?!?!?!” he wrote [on X](, adding a muscle emoji.—[Lizette Chapman](mailto:lchapman19@bloomberg.net) The big story Tesla is going on a hiring spree three months after [Musk’s mass layoffs](. 800 new roles have popped up on Tesla’s careers page since the chaotic downsizing, which cut thousands of positions after the company missed vehicle sales expectations by its widest margin ever. Many of the new job openings focus on AI and robotics. One to watch Aloft VC Founder Crystal McKellar, who has worked with JD Vance in the past, joins Caroline Hyde and Ed Ludlow to weigh in on his selection as VP candidate on "Bloomberg Technology." Get fully charged Huawei is close to finishing a $1.4 billion chip R&D center [in Shanghai.]( Taiwanese silicon wafer supplier GlobalWafers secured [$400 million in US support for plants in Texas and Missouri.]( Automotive supplier Tekion notched a $4 billion valuation in [Dragoneer deal.]( Rebranded Yandex is planning a share buyback [amid AI refocus.]( The death of a Malaysian TikTok user has prompted a clampdown on [cyberbullying in the country.]( More from Bloomberg Get Bloomberg Tech weeklies in your inbox: - [Cyber Bulletin]( for coverage of the shadow world of hackers and cyber-espionage - [Game On]( for reporting on the video game business - [Power On]( for Apple scoops, consumer tech news and more - [Screentime]( for a front-row seat to the collision of Hollywood and Silicon Valley - [Soundbite]( for reporting on podcasting, the music industry and audio trends - [Q&AI]( for answers to all your questions about AI Follow Us Like getting this newsletter? 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