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Technology |
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Trump buys a Tesla in defense of Elon Musk |
President Trump bought a Tesla Tuesday afternoon to "make a statement" amid the backlash against tech billionaire Elon Musk and his electric vehicle company, Tesla, for leading the Trump administration's government spending initiatives. |
"I'm going to buy because number one, it's a great product. As good as it gets. Number two, because this man [Elon Musk] has devoted his energy and his life to doing this, and I think he has been treated unfairly," Trump told reporters outside the White House in the afternoon. Trump delivered the remarks alongside Musk and Musk's son, just hours after he first announced on social media he would buy a Tesla in support of the tech entrepreneur. Tesla's stock has plummeted more than 50 percent since late last year and suffered its largest drop in more than four years Monday. It follows a string of protests at Tesla warehouses across the country from demonstrators calling out Musk's leadership of Trump's Department of Government Efficiency (DOGE) and the mass layoffs and spending cuts associated with it. Some Tesla vehicles have been vandalized on the streets, while some Tesla owners have put bumper stickers displaying messages like "I bought it before Elon went nuts." "The ongoing and heinous acts of violence against Tesla by radical Leftist activists are nothing short of domestic terror," Trump spokesperson Harrison Fields said in a later statement to The Hill. "President Trump has been clear, these attacks, or any other attack to intimidate or coerce our government or it's people will not stand in President Trump's America," Fields added. Musk acknowledged the toll his political career had taken on his business empire, telling FOX Business Network host Larry Kudlow in a Monday interview he has been overseeing his companies "with great difficulty." Read more in a full report at TheHill.com. |
Welcome to The Hill's Technology newsletter, we're Miranda Nazzaro and Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley. |
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How policy will be impacting the tech sector now and in the future: |
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President Trump hinted he would be open to labeling individuals who carry out violence at Tesla dealerships as "domestic terrorists" following a string of violent demonstrations at the electric vehicle company's showrooms across the U.S. Trump was asked Tuesday at the White House if he could speak about some of the violence occurring at Tesla dealerships, with a reporter noting that some people think those responsible … |
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The Nebraska Legislature has approved a measure classifying some gig economy workers as independent contractors, according to its website. L.B. 229, introduced by state Sen. Bob Hallstrom, was approved Monday, with 33 voting in favor and 15 opposed. Under the measure, ride-hailing service drivers and some delivery drivers, via state law, become independent contractors. Nebraska state Sen. John Cavanaugh slammed the measure … |
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Tech billionaire Elon Musk admitted he is having "great difficulty" running his various businesses as he juggles an advisory role in the Trump administration and leads the Department of Government Efficiency’s (DOGE) efforts to overhaul the federal workforce, all while Tesla stocks fall. Musk sat for a rare interview Monday night on Fox Business with former Trump administration official Larry Kudlow. The host asked him … |
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Sen. Bernie Sanders (I-Vt.) said the country is getting "sick and tired" of tech billionaire Elon Musk and slammed Musk's accusation that Sen. Mark Kelly (D-Ariz.) is a traitor for visiting Ukraine as "beyond the pale." "It's disgusting," Sanders said of Musk’s criticism of Kelly, a decorated former naval aviator. "Kelly is a military guy who serves his country, went to Ukraine to get a sense of how the Ukrainian people … |
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News we've flagged from the intersection of tech and other topics: |
- DOGE cuts CISA 'red team' staffers amid federal cuts (TechCrunch)
- U.S. Transportation Secretary says Verizon 'not moving fast enough' on FAA contract (Reuters)
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Senate Banking to vote on stablecoin bill |
Welcome to Crypto Corner, a new feature in The Hill's Technology newsletter focused on digital currency and its outlook in Washington. |
The Senate Banking Committee is planning to vote on Sen. Bill Hagerty's (R-Tenn.) stablecoin legislation Thursday, after unveiling newly updated bill text. The legislation seeks to create a regulatory framework for stablecoins — cryptocurrencies whose value is tied to another asset to maintain a more stable price. Sen. Kirsten Gillibrand (D-N.Y.) touted the updated bill for making significant improvements to provisions on "consumer protections, authorized stablecoin issuers, risk mitigation, state pathways, insolvency, transparency, and more." "This bill represents a true bipartisan effort, and I want to thank all our partners for their willingness to seek and find common ground," Gillibrand said in a statement. Plus: Stablecoins were the center of attention on the other side of the Capitol as well Tuesday, as the the House Financial Services Committee held a hearing on "examining a federal framework for payment stablecoins." |
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5G made for the USA, in the USA |
Ericsson is building the radio equipment to meet the demand for 5G networks. This equipment protects the supply chain & ensures we have the infrastructure to power continued U.S. tech leadership. Learn more. |
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Branch out with other reads on The Hill: |
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South Dakota pushes labels for political deepfake videos ahead of elections |
People or groups who try to use unlabeled deepfakes to influence voters in South Dakota during election season could soon face criminal and civil penalties under legislation that state lawmakers approved this week. The deepfake bill, which received final passage from the GOP-controlled state Legislature on Monday, now heads to Gov. Larry Rhoden (R) for his signature. The legislation applies to “deepfakes” defined … |
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Two key stories on The Hill right now: |
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The House on Tuesday passed a funding bill to avert an end-of-the-week government shutdown, teeing up the measure for consideration in the Senate. … Read more |
| Republicans in Congress are racing to pass a GOP stopgap funding bill by 11:59 p.m. Friday to avert a government shutdown. Speaker Mike Johnson (R-La.) … Read more |
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Opinions related to tech submitted to The Hill: |
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You're all caught up. See you tomorrow! |
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