Every man in the White House is benefiting himself first.
Look at Secretary of Commerce Howard Lutnick. In his previous job as CEO of Cantor Fitzgerald, he became deeply involved with stablecoin cryptocurrency Tether. Supposedly Cantor Fitzgerald holds close to a hundred billion dollars of funds for Tether, but this has never been verified by an audit — the only confirmation is from Lutnick himself.
In his White House job, he has worked hard to make it easier for companies like Tether to operate in the US with no oversight. And why wouldn’t he? As the sole guarantor of Tether’s credibility, he’s probably making billions from them.
In every practical sense, this is the grifter administration. They know they are untouchable at the moment, so everyone is out to get their piece of the pie.
All decisions and plays have some financial motives behind them. There's a reason POTUS admires Russia, and their style of governance - if he could, and had the time, the US would be a mirror of just that.
Keep the people occupied with a non-stop firehose of grievance bullshit, and be laser focused on enriching yourself and your allies.
EDIT: Gotta love the downvotes. The sheer level of shamelessness exhibited by the this admin, and people somehow still run to their defense.
Sometime around 2016 everyone learned that “corrupt” was just some synonym of “bad” and here we are, showered in a repeat of an administration of endless actual corruption.
Mr. Huang argued that restricting exports of Nvidia’s chips would push Chinese companies to develop more powerful alternatives.
This is so disingenuous. You think they'll stop developing local alternatives if you sell them your high end chips? That won't even stop Google, much less a command economy like China.
Subtitle:
David Sacks, the Trump administration’s A.I. and crypto czar, has helped formulate policies that aid his Silicon Valley friends and many of his own tech investments.
Most corrupt administration in American history by far. Sadly, not at all surprising. Many people are somehow ok with this cesspool and it is sickening.
Could be man or woman, and they’ve been doing it forever. Not news.
Every time I see one of these political hit stories it makes me close the tab for ycombinator for the day.
David Sacks' 5 page letter is pretty scathing response to the NYTimes. Seems like the NYT was throwing noodles at the wall and seeing what would stick.
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[ 3.1 ms ] story [ 34.2 ms ] threadLook at Secretary of Commerce Howard Lutnick. In his previous job as CEO of Cantor Fitzgerald, he became deeply involved with stablecoin cryptocurrency Tether. Supposedly Cantor Fitzgerald holds close to a hundred billion dollars of funds for Tether, but this has never been verified by an audit — the only confirmation is from Lutnick himself.
In his White House job, he has worked hard to make it easier for companies like Tether to operate in the US with no oversight. And why wouldn’t he? As the sole guarantor of Tether’s credibility, he’s probably making billions from them.
All decisions and plays have some financial motives behind them. There's a reason POTUS admires Russia, and their style of governance - if he could, and had the time, the US would be a mirror of just that.
Keep the people occupied with a non-stop firehose of grievance bullshit, and be laser focused on enriching yourself and your allies.
EDIT: Gotta love the downvotes. The sheer level of shamelessness exhibited by the this admin, and people somehow still run to their defense.
This is so disingenuous. You think they'll stop developing local alternatives if you sell them your high end chips? That won't even stop Google, much less a command economy like China.
Subtitle: David Sacks, the Trump administration’s A.I. and crypto czar, has helped formulate policies that aid his Silicon Valley friends and many of his own tech investments.
There were definitely conflicts of interest that should have been resolved but it's no where near what we're seeing this year (sigh, "so far").
https://x.com/DavidSacks/status/1995225152674533557?s=20