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☆ Why Elon Musk's push to cut federal waste might succeed where others failed
▼ + stars: | 2024-11-15 | by ( Jack Newsham | ) www.businessinsider.com time to read: +8 min

Elon Musk and Vivek Ramaswamy are promising to tame the federal government. Substantial changes to the federal budget would most likely require action from legislators, though Trump transition officials are reportedly looking for ways to short-circuit Congress' power over spending. AdvertisementPast presidents have tried to cut the federal budget with mixed successThe federal government isn't a business. AdvertisementClinton took another stab at cutting federal spending and improving government processes with his National Performance Review, which was led and staffed by federal employees instead of the private sector. AdvertisementSocial Security and Medicare are the two single biggest areas of federal spending, and changing them could be politically unpopular.

Persons: Elon Musk, Vivek Ramaswamy, they've, Trump, Reagan, Clinton, Ronald Reagan, Bill Clinton, David Walker, J, Peter Grace, Grace, didn't, Musk, Ramaswamy, Thomas Schatz, hasn't, Lex Fridman's, Veronique de Rugy, —, de Rugy Organizations: Government, Department of Government, Trump, Congress, Government Waste, Grace, Office, Citizens, Securities and Exchange Commission, Federal Aviation Administration, SpaceX, Social, Cato Institute, Social Security, GOP

☆ Ron Baron sees Tesla worth $5 trillion in 10 years, says Musk eyeing $30 trillion value one day
▼ + stars: | 2024-11-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"Tesla, I think, is going to be worth $3 [trillion] or $4 trillion — $5 trillion in 10 years, based upon the business plan that I am aware of. Then Elon believes that longer term it's going to be worth $30 trillion," Baron said Friday on CNBC's " Squawk Box ." TSLA ALL mountain Tesla Tesla is seen as a big beneficiary of promised Trump administration policies as Musk has this year been a prominent backer and donor to the president-elect. Shares of Tesla have surged about 25% in November during the postelection rally to return to a $1 trillion market cap. Baron said he will hold on to his Tesla shares for the long run.

Persons: Ron Baron, Tesla, Elon Musk, Elon, Baron, Trump, Musk, Vivek Ramaswamy Organizations: Nvidia, Apple, Microsoft, EV, Republican, Tesla, Optimus Locations: U.S, Tesla

☆ Elon Musk's new 'department' seeks 'super high-IQ' staff for unpaid jobs
▼ + stars: | 2024-11-14 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

“We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting,” the so-called Department of Government Efficiency said in a post on X. Musk and Ramaswamy have called for sweeping changes such as mass layoffs and deep cuts to federal programs. On Wednesday, Musk called for cutting grant money to nonprofit groups. Thousands of people have been replying to the DOGE account on X, including with suggested spending cuts. The DOGE account said Thursday that it was grateful to people for expressing interest in helping and that now it needs full-time staff.

Persons: Elon Musk, Vivek Ramaswamy’s, ”, Vivek, Musk, Donald Trump, Ramaswamy, Tesla, ” Ramaswamy, Trump, “, It’s Organizations: Government Efficiency, Elon, SpaceX, Trump, Republican Locations: America, ‘

☆ Elon Musk met with Iran’s United Nations envoy, NYT reports
▼ + stars: | 2024-11-14 | by ( Tara John | ) edition.cnn.com time to read: +2 min

New York CNN —Elon Musk, the world’s wealthiest person and close ally of President-elect Donald Trump, met with Iran’s ambassador to the United Nations on Monday, the New York Times reported, citing two Iranian officials. CNN is reaching out to Musk and Trump’s transition team for comment. The reported meeting comes as experts speculate that the next four years could pose a significant test for Iran. Just last week, the day after the presidential election, Musk joined Trump’s call with Ukrainian President Volodymyr Zelensky, according to two sources. Trump announced Tuesday that Musk and Vivek Ramaswamy will lead a new “Department of Government Efficiency” in his second administration.

Persons: New York CNN — Elon Musk, Donald Trump, Amir Saeid Iravani, Biden, Trump, Musk, Volodymyr Zelensky, Zelensky, Vivek Ramaswamy, Government ” Organizations: New, New York CNN, United Nations, New York Times, CNN, UN, Trump, “ Department, Government, NASA, Republicans Locations: New York, Iran, Tehran, Israel, Starlink, Ukraine, Russia, Government

☆ Elon Musk is hiring for DOGE. Here's what he's looking for.
▼ + stars: | 2024-11-14 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk wants you to help root out government waste — but only if you're really smart and willing to work 80 hours a week. Musk, who's standing up the Department of Government Efficiency — or DOGE, named after a cryptocurrency he's linked to — is looking for the top 1% of people interested in joining. We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting. We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting. Since his early days at Tesla, Musk has pushed the company's staff to work "super hardcore" — a management style he mirrored at Twitter, now X, after taking over the platform in 2022.

Persons: it'll, Musk, —, Elon Musk, Vivek, Vivek Ramaswamy, Trump, Ramaswamy, Volodymyr Zelenskyy, Recep Tayyip Erdoğan, Vance, Brian Hughes Organizations: Elon Musk's Department, Government, Service, Department of Government, Elon, — Department, Trump, Twitter Locations: Turkish

☆ Elon Musk is a showman, not an accountant
▼ + stars: | 2024-11-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

The merch will be 🔥🔥🔥”If you need more evidence of how silly this whole thing is, note (as many commentators did online) that the efficiency department is being overseen by two people. On the campaign trail last month, Musk was asked how much he thought he could cut from the nation’s $6.5 trillion budget. Musk would be lucky to find $200 billion in the federal budget, former Treasury Secretary Larry Summers said at the Economic Club of New York on Tuesday. Even Trump joked to House Republicans on Wednesday that he can’t get rid of Musk, a source in the room told CNN. And that means Musk himself, as Tesla’s largest individual shareholder, is $55 billion richer today than he was a week ago.

Persons: Donald Trump, Elon Musk, ”, he’s, Vivek Ramaswamy, ” Trump, Elon, Vivek, Trump, Musk, ments on Organizations: New, New York CNN, bro, “ Department, Government, Ford, United Airlines, Republican Congress Locations: New York, le

☆ At Tesla, some are celebrating stock gains — others worry Elon will lose focus
▼ + stars: | 2024-11-14 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Tesla employees are contending with a CEO whose list of commitments grows by the day. Most celebrated the company's surging stock price — it's up nearly 33% year to date — as Tesla stock makes up a significant share of most workers' compensation. Musk's growing list of commitmentsIn the runup to the election, Tesla CEO Elon Musk threw his money and influence behind Donald Trump. 🇺🇸🇺🇸🇺🇸 — Ashok Elluswamy (@aelluswamy) November 6, 2024Kimbal Musk, Elon Musk's brother and a Tesla board member, also appeared to celebrate the win. "On one hand, you want to celebrate the fact that the stock is up an insane amount," the employee said.

Persons: Elon Musk, Donald Trump, Vivek Ramaswamy, Musk, Trump's, Postelection, hasn't, Ashok Elluswamy, Elon, Don ’, cris, ric cars. At, vic Organizations: Elon, Tesla, Trump, PAC, America PAC, Department of Government, Palm, House Republicans, icl Locations: California, Texas, Palm Beach , Florida, Trump's, Mar, Palm Beach, Washington, DC, Palm

On the day after the election, Nov. 6, X experienced its largest user exodus since Elon Musk bought the platform in 2022. NBC News spoke to six people who have joined or committed to using Threads and Bluesky in place of X after the election because of Musk. In the past five days, Wurtz said people she used to follow on X have started to trickle over to Threads. “I have a private personal account for friends and family and a public account for Taylor Swift, so nobody drowns in my Taylor Swift content,” Polo said. Currently, X users can go to the site’s settings and opt out.

Persons: Elon Musk, Don Lemon, Donald Trump, Musk, Kara Wurtz, Louis, ” Wurtz, “, I’m, Wurtz, Wurtz isn’t, Adam Mosseri, Bluesky, ”, Mosseri, David Carr, X, Polo, Swifties, Taylor Swift, ” Polo, Elon, Rory Mir, ” Mir, José Vilson, “ I’m, ” Laura Sell, Sell, “ It’s, Micah Lee, Dr, Jorge Caballero, ” Caballero, it’s Organizations: Elon, Guardian, NBC, Trump, Twitter, NBC News, Bluesky, Electronic Frontier Foundation, Duke University Press Locations: Similarweb, United States, Canada, Bluesky

☆ Elon Musk may already be overstaying his welcome in Trump’s orbit
▼ + stars: | 2024-11-13 | by ( Dasha Burns | David Ingram | ) www.cnbc.com time to read: +6 min

In a statement, Trump-Vance transition spokeswoman Karoline Leavitt said, "Elon Musk and President Trump are great friends and brilliant leaders working together to Make America Great Again. Elon Musk is a once in a generation business leader and our federal bureaucracy will certainly benefit from his ideas and efficiency." An adviser to Trump said that Elon Musk would join Trump in a meeting Wednesday with Republican lawmakers ahead of leadership elections. In posts on X in the past week, Musk has pushed various policy ideas including deporting immigrants and slashing government spending. On Sunday, one of Trump's grandchildren, Kai Trump, posted a photo on X of herself with Musk, writing that Musk was "achieving uncle status."

Persons: Elon Musk, Donald Trump, Vivek Ramaswamy, Musk, who've, they're, he's, Trump, Vance, Karoline Leavitt, Volodymyr Zelenskyy, Elon, pester Trump, Elon doesn't, Cantor Fitzgerald, Howard Lutnick, Kai Trump Organizations: Trump, Tech, SpaceX, Department of Government, America PAC, Mar, Ukrainian, Republican, PAC, West Palm Beach Locations: Butler , Pennsylvania, U.S, Beach , Florida, Pennsylvania, West Palm Beach, Mar, West Palm, Austin , Texas

☆ Bluesky’s user base has doubled in the past 90 days. Is it a mass exodus from X?
▼ + stars: | 2024-11-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

Bluesky’s user base has doubled in the past 90 days — on Tuesday the company said it had gained 1 million new sign-ups in the past week alone, bringing it to more than 15 million total users. “X usage is at an all-time high and continues to surge,” X CEO Linda Yaccarino said in a post Wednesday. Bluesky also saw daily visits jump on Election Day and the day after to 1.2 million and 1.3 million, respectively, up from around 800,000 in the days before. On Bluesky, daily users more than doubled from-mid October to the post-election week. In the run-up to the election, Musk spread false and misleading claims about Trump’s competitor, Vice President Kamala Harris.

Persons: Bluesky rocketed, Elon, Musk, Donald Trump, Charlie Warzel, New York Times ’ Mara Gay, Don Lemon, X, White supremacists, Linda Yaccarino, “, Similarweb, Bluesky, ” David Carr, we’ve, Ed Zitron, EZPR, Zitron, Mike Isaac, ”, Trump, MAGA, Kamala Harris, Vivek Ramaswamy, Vladimir Zelensky, Musk’s Starlink, That’s, – CNN’s Liam Reilly, Matt Egan Organizations: New, New York CNN, Apple, New York Times, CNN, Guardian, ” New York Times, Trump, Twitter, “ Department, Government Locations: New York, anecdotally, Bluesky, ”, Russia

☆ Did you need another reminder that Donald Trump watches TV? Here you go
▼ + stars: | 2024-11-13 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

But some people still seem surprised to see Trump nominate Pete Hegseth for defense secretary. It's a reminder that while Twitter — and Elon Musk — is influencing Trump, he's also a very, very big TV guy. Here's one clue: Trump has just nominated a Fox News host, Pete Hegseth, to be his secretary of defense. Mr. Musk has also attended at least one national security meeting with Mr. Trump alongside the likes of Stephen Miller, a top aide, and Donald Trump Jr., according to a person briefed on the meeting. But for now, both things can be true: Donald Trump has both Twitter and TV on his mind — even if he's actually watching only one of them.

Persons: Donald Trump, Pete Hegseth, It's, Elon Musk, Trump, he's, Ron DeSantis, Pete, CNN's Brian Stelter, YouTuber Shawn Ryan, Musk, Rick Scott of, Howard Lutnick, Linda E, McMahon, Recep Tayyip Erdogan of, Volodymyr Zelensky, Javier Milei, Milei, Stephen Miller, Donald Trump Jr Organizations: Fox News, Trump, Twitter, Elon, —, Hegseth's Fox News, Florida Gov, Fox, Army National Guard, YouTube, 4chan, New York Times, Department of Education, Mr, Times Locations: Washington, Florida, Rick Scott of Florida, Canada, Recep Tayyip Erdogan of Turkey, Ukraine, Argentina, Mar

☆ Elon Musk's promise of an 'epic' leaderboard of 'dumb' government spending reveals his marketing savvy
▼ + stars: | 2024-11-13 | by ( Geoff Weiss | Grace Eliza Goodwin | ) www.businessinsider.com time to read: +7 min

Elon Musk says a leaderboard of "dumb" government spending will expose waste — and he wants your two cents. The Tesla CEO said this week that he planned to post a public "leaderboard for the most insanely dumb spending of your tax dollars." While the effectiveness of Musk's leaderboard remains to be seen, experts told Business Insider it showed his marketing savvy — even if it could also encourage "gotcha" moments that need more context. Especially in a dry realm such as government spending, Musk's plans are bound to grab eyeballs — and perhaps make people feel more invested in the outcome. She said there was some precedent for Musk's leaderboard, noting that former Sen. William Proxmire, a Democrat from Wisconsin, issued the "Golden Fleece Award" for wasteful spending throughout the 1970s and '80s via monthly press releases.

Persons: Elon Musk, —, Musk, Donald Trump's, DOGE —, he's, Vivek Ramaswamy, Natalie Andreas, Austin who's, Ayelet, didn't, Musk's, Andreas, Karen North, Clinton, Sen, William Proxmire, It's, screwworms —, Amy Jo Kim, Kim Organizations: Service, Department of Government, University of Texas, Austin, University of Chicago's Booth School of Business, University of Southern California's Annenberg School for Communication, Journalism, Stanford Locations: Wisconsin

Elon Musk listens as President-elect Donald Trump addresses a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill in Washington, D.C., on Nov. 13, 2024. Elon Musk on Wednesday joined President-elect Donald Trump for his first postelection meeting with the House Republican conference in Washington, D.C., an advisor to Trump told NBC News. Trump and Musk flew to the nation's capital together from Florida aboard Trump's plane. Musk has been alongside Trump in nearly every meeting, The New York Times reported. On Tuesday evening, Trump announced that "the Great Elon Musk" and entrepreneur Vivek Ramaswamy would lead an outside commission called the "Department of Government Efficiency," which aims to "dismantle government bureaucracy" and cut regulations.

Persons: Elon Musk, Donald Trump, Musk, Trump's, Trump, Elon, Vivek Ramaswamy Organizations: Republicans, Hyatt, Washington , D.C, Wednesday, House Republican, Trump, NBC News, SpaceX, The New York Times, " Department of Government Locations: Washington ,, Florida, Palm Beach

☆ X rival Bluesky gains 1.25 million users following U.S. election
▼ + stars: | 2024-11-13 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

In this photo illustration, the Bluesky Social logo is displayed on a cell phone in Rio de Janeiro, Brazil, on September 4, 2024. Micro-blogging startup Bluesky has gained over 1.25 million new users in the past week, indicating some social media users are changing their habits following the U.S. presidential election. "We're excited to welcome everyone looking for a better social media experience," Bluesky CEO Jay Graber told CNBC in a statement. Meta CEO Mark Zuckerberg in October said Threads had nearly 275 million monthly users. Musk in May claimed that X had 600 million monthly users, but market intelligence firm Sensor Tower pegged X's monthly base at 318 million users in October.

Persons: Elon Musk, Jay Graber, Mark Zuckerberg, Jack Dorsey, Bluesky, Dorsey, Donald Trump Organizations: U.S, Elon, CNBC, Journalists, Trump, Brazilian Supreme Court Locations: Rio de Janeiro, Brazil, U.S, Canada, United Kingdom, Seattle

☆ Elon Musk worries free speech advocates with his calls to prosecute researchers and critics
▼ + stars: | 2024-11-13 | by ( David Ingram | Lora Kolodny | ) www.cnbc.com time to read: +8 min

He cited X's increasing compliance with foreign governments' demands to censor content on the platform and the lawsuits against the Center for Countering Digital Hate and Media Matters. X has a pending lawsuit against Media Matters and a pending appeal in a lawsuit that X lost against the Center for Countering Digital Hate. The ACLU, the Electronic Frontier Foundation and the Knight First Amendment Institute at Columbia University filed an amicus brief in support of the Center for Countering Digital Hate. The feud between Musk and the Center for Countering Digital Hate has continued. Rep. Jim Jordan, R-Ohio, also criticized the Center for Countering Digital Hate on Thursday, sending the organization a demand for documents related to the "Kill Musk's Twitter" language.

Persons: Elon Musk, Donald Trump, Anna Moneymaker, Musk, Victoria Nuland, Nadine Strossen, Trump, Strossen, they're, Aaron Terr, Terr, there's, Michael Gerhardt, Chapel Hill, —, X, Charles Breyer, Imran Ahmed, Elon, Ahmed, Jim Jordan Organizations: Republican, State Department, Center, American Civil Liberties Union, New York Law School, SpaceX, Justice Department, Foundation, Rights, Hate, Media, NBC News, NBC, Media Matters, University of North, Chapel, Department, The Justice, District, ACLU, Electronic Frontier Foundation, Columbia University, Racket, Federal Government Locations: Butler , Pennsylvania, University of North Carolina, U.S, Ohio

“Any disputes Musk has with his critics should play out in the court of public opinion, not a court of law,” Terr said. Musk and representatives at X did not respond to requests for comment on his calls for prosecution. Musk and X have sometimes found allies among members of Congress or state attorneys general who have launched investigations. “The First Amendment obviously protects both Musk and his critics in making public pronouncements about each other,” he said in an email. The feud between Musk and the Center for Countering Digital Hate has continued.

Persons: Elon Musk, Musk, Victoria Nuland, ”, ” Musk, Donald Trump, Nadine Strossen, Trump, Strossen, they’re, ” Aaron Terr, ” Terr, there’s, Michael Gerhardt, Chapel Hill, —, X, Charles Breyer, Imran Ahmed, “ Elon Musk, “, ” Ahmed, Ahmed, Jim Jordan, Travis Brown, Brown, Aaron Greenspan, PlainSite, Greenspan, Jack Sweeney, Sweeney, Taylor Swift, he’s, “ Trump Organizations: State Department, Center, American Civil Liberties Union, New York Law School, “, SpaceX, Justice Department, Foundation, Rights, Hate, Media, NBC News, NBC, Media Matters, University of North, Chapel, Department, The Justice, District, ACLU, Electronic Frontier Foundation, Columbia University, Constitution, Racket, Twitter, Federal Government, World Federation, Internet, Wired, Washington Post Locations: University of North Carolina, U.S, Ohio, Texas, San Francisco

☆ OpenAI reportedly facing issues with its new AI model is a red flag for the entire industry
▼ + stars: | 2024-11-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt also undermines a core assumption about the future of generative AI: If you add more data and computing power, you get smarter and more powerful AI models. Top AI players have eye-popping valuations based on the promise that AI models will keep getting smarter and better with time. Getty Images; Chelsea Jia Feng/BISo what's holding AI models back from making another big jump? Anthony Scaramucci tells BI Trump's economic plans could cause a 1920s-style stock-market crash .

Persons: —, OpenAI's, Fabrice Beaulieu, Justin Sullivan, That's, Insider's Hasan Chowdhury, Beatrice Nolan, Orion, OpenAI, Chelsea Jia Feng, Anthony Scaramucci, Trump, Viktor Kovalchuk, Michael M, Robert Perry, Rebecca Zisser, what's, Donald Trump —, Morgan Stanley, Carta, Jed Finn, Goldman Sachs, Jeremy Siegel, Trump's, Jeff Bottari, Donald Trump, Joe Rogan, elect's, Elon Musk, Tesla's, Musk, Timo Lenzen, Juan Merchan, Donald Trump's, Jack Teixeira, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Orion, Getty, Companies, New York Times, Wall, Getty Images, Elon, BI, Trump Locations: GPT, undergrad, Mexico, New York, Ukraine, Massachusetts, Chicago, London

Pushing the funding fight to next year would put Trump in position to have far greater say. Congress faces a jam-packed to-do list of critical legislative items, including the annual defense policy bill. The next Trump loyalty test – who will lead the Senate GOP? The new Senate GOP leader will be elected by secret ballot, meaning no one will know who voted for which candidate. The House and Senate are only expected to be in session for two weeks before leaving for the Thanksgiving holiday.

Persons: Donald Trump won’t, Trump, Mike Johnson, Johnson, ”, Kelly Armstrong, “, Trump’s, Dusty Johnson of, “ I’m, Mitch McConnell, John Thune of, John Cornyn of, Rick Scott, McConnell, –, ” Thune, Cornyn, ” Scott, Scott, Sens, Marco Rubio, Tommy Tuberville, Bill Hagerty, Ron Johnson, they’d, haven’t, Elon Musk, Musk, Hakeem Jeffries, There’s, Alayna Treene Organizations: CNN, White House, Capitol, Republican Party, GOP, Trump, North, Republican, Senate, Florida Republican, Democratic, Republicans, National Defense, Department of Defense Locations: North Dakota, Dusty Johnson of South Dakota, Sens, John Thune of South Dakota, John Cornyn of Texas, Florida, Marco Rubio of Florida, Alabama, Tennessee, Wisconsin, Washington, United States

Elon Musk embraces Donald Trump during a campaign rally in Butler, Pennsylvania on Oct. 5, 2024. Kissinger was deeply respected in China and continued to meet with its leaders as an unofficial diplomat in efforts to promote warmer relations between the two countries. Just months before Kissinger died in November 2023, he met with Chinese President Xi Jinping in Beijing in July 2023. They may not reach the same impact as Kissinger, given the more complex period, he said, though they could help stabilize relations. Cook and Schwarzman also regularly visit leaders in China, where they are often highlighted by Beijing as examples of positive China-U.S. business and trade relations.

Persons: Elon Musk, Donald Trump, Anna Moneymaker, Elon, Kissinger, Scott Kennedy, Henry Kissinger, Xi Jinping, Tesla, Li Qiang, Wang Yiwei, Wang, Musk's, Musk, Joe Biden, Biden, Trump, Wang Huiyao, Tim Cook, Blackstone, Stephen Schwarzman, Cook, Schwarzman, Dewardric Organizations: Getty, White, Economics, Center for Strategic, International Studies, U.S, SpaceX, Renmin University, CNBC, Trump, Center for, Longview Global Locations: Butler , Pennsylvania, Beijing, China, Washington, imploding, U.S, Center for China, Dewardric McNeal

☆ Trump says Musk and Ramaswamy will lead government efficiency group
▼ + stars: | 2024-11-12 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

President-elect Donald Trump said Tuesday that Elon Musk and former Republican presidential hopeful Vivek Ramaswamy will lead an efficiency group when his second term begins in January. Trump wrote in a post that the Department of Government Efficiency, or DOGE, will "become, potentially, 'The Manhattan Project' of our time." Trump didn't specify where cuts will take place or when the department may be formed. Musk, who also runs defense contractor SpaceX, has reportedly been stationed at Trump's Mar-a-Lago resort in Florida since election night. Ramaswamy, who challenged Trump in the Republican primary, is co-founder of investment firm Strive Asset Management.

Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Trump, hasn't, Musk, Ramaswamy, Pete Hegseth, John Ratcliffe Organizations: Department of Government, Trump, Republican, SpaceX, Fox News Locations: Trump's, Lago, Florida

☆ Elon Musk has named his top choice for Senate majority leader
▼ + stars: | 2024-11-11 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Elon Musk wants Rick Scott to be the next Senate majority leader. "Rick Scott for Senate Majority Leader!" Rick Scott for Senate Majority Leader! Both Cornyn and Thune served as deputies to McConnell when he was Senate majority leader. AdvertisementPresident-elect Donald Trump has yet to endorse a candidate, but wrote in an X post on Sunday that the next Senate majority leader should support his recess appointments.

Persons: Elon Musk, Rick Scott, Scott, John Cornyn, John Thune, Mitch McConnell, —, Elon, Sen, Rick Scott of, lpT34yHTKk — Elon, John Thune of, John Cornyn of, Mitch McConnell of, Cornyn, Thune, McConnell, Donald Trump, Musk, — Donald J, Scott's, Trump, Volodymyr Zelenskyy, Recep Tayyip Erdogan, Zelenskyy Organizations: Service, GOP, Musk, Business, Republican Party clinched, United States, Trump, SpaceX, America PAC, PAC, The New York Times Locations: Rick Scott of Florida, John Thune of South Dakota, John Cornyn of Texas, Mitch McConnell of Kentucky, Turkish, Ukraine

☆ Trump is already wielding power and causing massive disruption
▼ + stars: | 2024-11-11 | by ( Stephen Collinson | Trump S Determination To Project Peerless Authority Is Playing Out On Multiple Fronts | ) edition.cnn.com time to read: +11 min

Democrats are, meanwhile, coming to terms with the massive fallout of their failure to stop Trump’s return to power, even as they dissolve into self-recrimination. They lack a clear leader to revive their message or a platform of power if Republicans retain control of the House. Establishing dominance over Washington Republicans: Trump has been mostly behind closed doors since his victory rally last week. Trump is promising to return to the volatile foreign policy that defined his first term — and then some. The conundrum facing US allies was laid out by French President Emmanuel Macron, who rode the Trump first-term rollercoaster.

Persons: Donald Trump, Trump, —, Mike Pompeo, Nikki Haley, Elise Stefanik, rouser Elon Musk, Volodymyr Zelensky —, Joe Biden —, Susie Wiles, Pompeo, Haley, Roger Stone, MAGA, “, ” Trump, Tony Carrk, Elect Trump, Florida Sen, Rick Scott —, Vivek Ramaswamy —, Dakota Sen, John Thune, Texas Sen, John Cornyn, Thune, Cornyn, ”, Washington, trepidation, Jim Jordan, Dana Bash, Jordan, Jack Smith, Musk, Trump —, Vladimir Putin, Emmanuel Macron, Macron, ” Macron Organizations: CNN, White, Republicans, GOP, United, New York, Trump, Pentagon, Overseas, peerless, CIA, South Carolina governor’s, Washington Republicans, Republican, United States, Democrats, Union, Ohio Republican, SpaceX Locations: Florida, United Nations, Europe, Taiwan, Iran, Russia, United States, Arizona, Washington, South Carolina, New York, ., Dakota, Texas, “ State, China

☆ Trump's tariffs will make it hard for automakers — including Tesla — to set up shop in Mexico
▼ + stars: | 2024-11-11 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Analysts said tariffs on cars imported from Mexico would have dire consequences for US automakers. Tesla announced in March 2023 that it was planning to build its seventh gigafactory near the industrial hub of Monterrey, Mexico. Trump vowed to clamp down on automakers building cars in Mexico on the campaign trail, and the prospect of new tariffs could force US automakers such as Tesla to make some hard choices about operational or planned factories in Mexico. Analysts told BI that the tariffs floated by Trump would deter automakers such as Tesla from investing in Mexico. Other automakers have expanded their presence in Mexico, despite the uncertainty of the election and the prospect of tariffs under a second Trump term.

Persons: Donald Trump, Elon Musk, —, Tesla, Trump, It's, Donald Trump's, Alex Brandon, Musk, Sam Fiorani, Fiorani, Ford, David Whiston, Scott Olson, BYD, Stephanie Brinley, Alanis King, Brinley, Stellantis Organizations: Service, Mexico —, AP, UBS, Trump, AutoForecast Solutions, General Motors, Ford, Getty, Toyota, Tacoma, Nissan, Volkswagen, BYD, Chrysler, Street Journal, BMW, P Global, Toyota Tacoma, GM Locations: Mexico, Monterrey, Detroit, United States, Cuautitlan, Toluca, San Luis Potosí

☆ Bitcoin hits $80,000. Why Trump is boosting crypto
▼ + stars: | 2024-11-10 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

After briefly touching the $80,000 milestone, bitcoin was trading just below it Sunday mid-morning. The crypto industry believes Trump’s victory is a bullish sign for bitcoin and other digital currencies. Although Trump was once a bitcoin skeptic, once saying it “was based on thin air,” he has fully embraced crypto in recent months — unlike the Biden administration, which has sought to rein in crypto. A big reason Trump has changed his tune on crypto: He now has a financial stake in it. In September, Trump and his children started a new crypto business called World Liberty Financial.

Persons: CNN — Bitcoin, Donald Trump, Bitcoin, Trump, “, ” Trump, ”, Biden, Gary Gensler, ” Gensler’s, Sam Bankman, Gensler, Gensler’s, cryptocurrencies, Elon Musk Organizations: CNN, Biden, Liberty, . Securities, Exchange, ” Gensler’s SEC, SEC, Department of Justice, cryptocurrencies Locations: USA

☆ California took a surprisingly red turn on key issues, upending its ultraliberal reputation
▼ + stars: | 2024-11-09 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Landlords, realtors, and some pro-housing groups opposed the measure, but the California Democratic Party, tenant groups, and some unions supported it. California voters did, however, vote to enshrine a state constitutional right to marry regardless of sex or race and to issue bonds for natural resource conservation. Related storiesThough Lurie is a Democrat, he received the support of some Republican groups in San Francisco who have criticized Breed's handling of crime, drug use, and homelessness in the city. AdvertisementOther signs California was turning more redBefore Election Day, there were some signs the state's electorate had shifted to the right. California is still tallying its votes, so exactly how much the presidential vote changed from 2020 to 2024 is unclear.

Persons: —, Elon Musk, Donald Trump, Kamala Harris, Gavin Newsom's, Voters, Allen J, Incumbent San Francisco Mayor London Breed, Daniel Lurie, Lurie, Levi Strauss, Mark Farrell, George Gascón, Gascón, Nathan Hochman, Harris, Joe Biden Organizations: Service, Democratic, SpaceX, Republican, Trump, State, Democratic Gov, realtors, California Democratic Party, Los Angeles Times, Getty, Incumbent San Francisco Mayor London, Democrat, The San Francisco Republican, Los, Public, Institute of California Locations: California, Texas, Coachella, San Francisco, The, Los Angeles County, Los Angeles, Illinois , New Jersey , New York , Connecticut, Maryland

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