President-elect Donald Trump today announced that a new Department of Government Efficiency—or "DOGE"—will be led by Elon Musk and former Republican presidential candidate Vivek Ramaswamy. Musk and Ramaswamy, who founded pharma company Roivant Sciences, "will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies," according to the Trump statement on Truth Social.

DOGE apparently will not be an official federal agency, as Trump said it will provide advice "from outside" of government. But Musk, who has frequently criticized government subsidies despite seeking public money and obtaining various subsidies for his own companies, will apparently have significant influence over spending in the Trump administration. Musk has also had numerous legal disputes with regulators at agencies that regulate his companies.

"Republican politicians have dreamed about the objectives of 'DOGE' for a very long time," Trump said. "To drive this kind of drastic change, the Department of Government Efficiency will provide advice and guidance from outside of Government, and will partner with the White House and Office of Management & Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before."

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Elon Musk’s support for Donald Trump is set to boost X’s flagging business, with some marketers poised for a return to the social media platform in order to seek favor with the incoming administration.

Media executives told the Financial Times that some brands were preparing to advertise on X once again, as its billionaire owner was likely to gain an influential role within a second Trump White House.

The platform’s revenues have fallen dramatically since Musk’s $44 billion acquisition two years ago, with some investor estimates suggesting its current valuation is less than $10 billion.

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Hello, and welcome back to TechCrunch Space. There was absolutely no news last week because nothing happened. Just kidding. Defying all early polling, Donald Trump swept the election and will soon be sworn in for his second term in office. From a space policy perspective, things are already starting to look interesting. That’s mostly due […]

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President-elect Donald Trump will try to prevent TikTok from getting banned in the United States, The Washington Post reported on Tuesday. During his campaign, Trump promised voters that he would save the popular social media app if elected. Former Trump adviser and campaign manager Kellyanne Conway told the Post that the president-elect “appreciates the breadth and […]

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Bitcoin hit a new record high late Monday, its value peaking at $89,623 as investors quickly moved to cash in on expectations that Donald Trump will end a White House crackdown that intensified last year on crypto.

While the trading rally has now paused, analysts predict that bitcoin's value will only continue rising following Trump's win—perhaps even reaching $100,000 by the end of 2024, CNBC reported.

Bitcoin wasn't the only winner emerging from the post-election crypto trading. Crypto exchanges like Coinbase also experienced surges in the market, and one of the biggest winners, CNBC reported, was dogecoin, a cryptocurrency linked to Elon Musk, who campaigned for Trump and may join his administration. Dogecoin's value is up 135 percent since Trump's win.

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President-elect Donald Trump looped in Elon Musk on his phone call with Ukraine’s President Volodymyr Zelenskyy on Wednesday, according to Axios. As one of Trump’s top campaign donors, Musk has forged a strong alliance with the incoming president. The Tesla CEO has been rumored as a candidate for a position in Trump’s cabinet, and his […]

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Following Donald Trump’s election victory, thousands of bettors anticipate a potential $450 million payout from online betting sites, says Reuters. As Trump’s odds surged on so-called prediction markets near the end of the race, platforms like Kalshi and Polymarket gained attention for diverging sharply from traditional polls, which suggested a much closer race.  Talking with […]

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A few weeks before the US presidential election, Donald Trump suggested that a breakup of Google's search business may not be an appropriate remedy to destroy the tech giant's search monopoly.

"Right now, China is afraid of Google," Trump said at a Chicago event. If that threat were dismantled, Trump suggested, China could become a greater threat to the US, because the US needs to have "great companies" to compete.

Trump's comments came about a week after the US Department of Justice proposed remedies in the Google monopoly trial, including mulling a breakup.

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Early Wednesday morning, Donald Trump became the presumptive winner of the 2024 US presidential election, setting the stage for dramatic changes to federal AI policy when he takes office early next year. Among them, Trump has stated he plans to dismantle President Biden's AI Executive Order from October 2023 immediately upon taking office.

Biden's order established wide-ranging oversight of AI development. Among its core provisions, the order established the US AI Safety Institute (AISI) and lays out requirements for companies to submit reports about AI training methodologies and security measures, including vulnerability testing data. The order also directed the Commerce Department's National Institute of Standards and Technology (NIST) to develop guidance to help companies identify and fix flaws in their AI models.

Trump supporters in the US government have criticized the measures, as TechCrunch points out. In March, Representative Nancy Mace (R-S.C.) warned that reporting requirements could discourage innovation and prevent developments like ChatGPT. And Senator Ted Cruz (R-Texas) characterized NIST's AI safety standards as an attempt to control speech through "woke" safety requirements.

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Now that the US presidential election has been called for Donald Trump, the sweeping tariffs regime that Trump promised on the campaign trail seems imminent. For the tech industry, already burdened by the impact of tariffs on their supply chains, it has likely become a matter of "when" not "if" companies will start spiking prices on popular tech.

During Trump's last administration, he sparked a trade war with China by imposing a wide range of tariffs on China imports, and President Joe Biden has upheld and expanded them during his term. These tariffs are taxes that Americans pay on restricted Chinese goods, imposed by both presidents as a tactic to punish China for unfair trade practices, including technology theft, by hobbling US business with China.

As the tariffs expanded, China has often retaliated, imposing tariffs on US goods and increasingly limiting US access to rare earth materials critical to manufacturing a wide range of popular products. And any such retaliation from China only seems to spark threats of more tariffs in the US—setting off a cycle that seems unlikely to end with Trump imposing a proposed 60 percent tax on all China imports. Experts told Ars that the tech industry expects to be stuck in the middle of the blow-by-blow trade war, taking punches left and right.

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Elon Musk — the billionaire CEO of Tesla, SpaceX, and xAI, and the owner of The Boring Company, Neuralink, and X — took a sharp swing to the right this election to support President-elect Donald Trump, using his vast wealth, influence, and megaphone on X to influence the outcome of the election.  Musk’s support came […]

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A grueling election cycle has come to a close. Donald Trump will be the 47th president of the U.S., and, with Republicans in control of the Senate — and possibly the House — his allies are poised to bring sea change to the highest levels of government. The effects will be acutely felt in the […]

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While Trump's administration is unlikely to be supportive of certain climate tech startups, it will have a harder time ending the broadly popular law.

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I was interviewing Franz Nicolay about his book, Band People, and at one point I asked him, “Where do you think ambition comes from?”

Before he could answer, I blurted out, “I think it comes from a big hole in you!”

We laughed. He didn’t disagree.

Here’s Tony Schwartz on the two lessons he learned from being Donald Trump’s ghostwriter:

The first lesson is that a lack of conscience can be a huge advantage when it comes to accruing power, attention and wealth in a society where most other human beings abide by a social contract. The second lesson is that nothing we get for ourselves from the outside world can ever adequately substitute for what we’re missing on the inside.

Casually, and anecdotally, this is what I’ve often observed in my (thankfully limited) experiences around famous or quasi-famous people.

First, it’s hard to tell in the “suck-cessful” what’s ambition or drive or hard work or whatever you want to call it and what’s sociopathy.

Second, fame never fixes anything for anybody.

Because nothing from the outside will fill what’s missing on the inside.