Leading tech companies in the United States are a worried lot. Throughout the campaigns, they had been backing Hillary Clinton while declaring that a Trump presidency would be entirely bad for innovation. Right now, the tech companies have to rethink their position since their worst nightmare has now become a reality. Here are three important things about the relationship between leaders of the tech companies and the President-Elect that you need to know.
1. Tech Companies are in a stronger negotiating position
Tech companies are in a stronger bargaining position in matters of security, government surveillance and other policies that the new administration will develop. As things stand now, the tech industry is a major component of the US economy, is worth about $3 trillion. If anything, the federal government needs the tech industry more than the tech industry needs the federal government. Therefore, leaders of the tech industry are in an excellent negotiating position.
2. Tech companies have a list of requests for Trump
Recently, leaders of the largest tech companies wrote a letter to Trump, expressing their requests to the President-Elect. The major concern that the leaders indicated is the possibility of the new administration opposing strong encryption practices and attempting to force companies to give it access to the data of individuals. Across the world, tech and telecommunication companies have been fighting attempts by governments to force them to keep logs for long and even allow government agencies to access devices if a need arises. It remains to be seen how the new administration will behave.
3. The two sides are likely to get to a compromise
Peter Thiel, one of the most respected figures in Silicon Valley, campaigned for Trump. In all probability, he is likely to guide the way for the two opposing sides to make peace. Besides, it is probable that pragmatism will guide the new administration rather than far-right rhetoric. If this happens, it is probable that the two sides will reach an agreement on how to work together.