Technology
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Technology
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Vance calls out globalization
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Vice President Vance argued Tuesday globalization has stifled American innovation over the past several decades as he defended the Trump administration's technology agenda.
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“Our workers, the populists on the one hand, the tech optimists on the other, have been failed by this government," Vance said during his keynote address to the American Dynamism Summit hosted by the Andreessen Horowitz (a16z) venture capital firm.
"Not just the government of the last administration, but the government — in some ways — of the last 40 years, because there were two conceits that our leadership class had when it came to globalization."
Vance argued the first conceit of globalization — describing the interdependence of the world’s economies and services — was the assumption the U.S. would be able to separate the manufacturing of products from their design process.
The vice president described how design firms work with their manufacturing partners and often share intellectual property, practices and sometimes employees as a result.
“Now, we assume that other nations would always trail us in the value chain. But it turns out that as they got better at the low end of the value chain, they also started catching up on the higher end. We were squeezed from both ends,” he said.
The second conceit, Vance argued, was the idea that cheap labor is a positive thing for innovation.
“Cheap labor is fundamentally a crutch, and it’s a crutch that inhibits innovation,” the vice president said. “I might even say that it’s a drug that too many American firms got addicted to now.”
Vance, a former venture capitalist, has served as one of the Trump administration’s main messengers of technology policy.
Tuesday’s address built off his speech at the Artificial Intelligence Action Summit in Paris last month. Vance on Tuesday echoed his push against excessive regulation, arguing tech companies must be able to “build, build, build.”
Read more in a full report at TheHill.com
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Welcome to The Hill’s Technology newsletter, I'm Miranda Nazzaro — 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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Indian Prime Minister Narendra Modi has joined President Trump’s Truth Social platform. “Delighted to be on Truth Social! Looking forward to interacting with all the passionate voices here and engaging in meaningful conversations in the times to come,” Modi said in a post on Monday. Trump announced the launch of Truth Social back in 2021 after he was banned from Twitter, which is now known as X. He frequently posts on the platform, …
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The FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) is investigating damage to Cybertrucks at a Tesla dealership in Kansas City, Mo., according to a Tuesday social media post. “The FBI and ATF are working with the Kansas City, MO Police Department to investigate an overnight incident in which Cyber Trucks at a Tesla Dealership in south Kansas City were damaged,” the FBI’s Kansas City field office …
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Former NASA astronaut José Hernández said Monday that travel to Mars is “a good 15 years away.” “As I’ve always said … space travel is not trivial, and so what we need to do next is, we’re going to retire the International Space Station, invest that — that operational money in developing a lunar base where technologies that are needed to go to Mars need to be developed and tested and proved, because right now, there’s …
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News we've flagged from the intersection of tech and other topics:
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The FTC removes posts criticizing Amazon, Microsoft and AI firms (WIRED)
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Google strikes $32 billion deal for cybersecurity startup Wiz (The Wall Street Journal)
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House Democrat looks past party lines on crypto
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Welcome to Crypto Corner, a daily feature focused on digital currency and its outlook in Washington.
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Rep. Ro Khanna (D-Calif.) was not afraid to break with his party when it came to cryptocurrency over the past few years.
Reflecting on the tone shift in Washington, Khanna offered his view of why it took Democrats longer to come around to cryptocurrencies during a conversation at the Digital Asset Summit on Tuesday.
"I understood from conversations with many different entrepreneurs and leaders that this was a very important technology and I guess that's what I never understood about why it became so political," he told Blockchain Association CEO Kristin Smith.
The Biden administration and various Democratic lawmakers took a hardline approach toward the industry, which is now welcoming President Trump's support for the space.
When asked why the Biden administration was aggressive towards the industry, Khanna suggested they "didn't fully understand the technology."
"They didn't understand several basic principles. The Democratic party has said we don't want to be insular, we don't just want to look at America," he continued. "Well, if you have that view, wouldn't you want more people around the world to have access to dollars?"
"To me, this is about the extension of American leadership and influence but I don't think the Democratic Party fully understood that."
The lawmaker, who represents parts of Silicon Valley, explained how he held a roundtable convening various crypto advocates and Biden administration officials.
One of these officials said, "Wow, I didn't realize they were this upset at us," according to Khanna.
Now, the California Democrat is happy to see some of his colleagues come on board amid a major lobbying effort from the digital assets space.
Khanna and some members "want this to be a bipartisan issue for American competitiveness."
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Branch out with other reads on The Hill:
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SpaceX capsule with retrieved astronauts departs space station
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The SpaceX capsule tasked with bringing back two NASA astronauts who have spent months on the International Space Station (ISS) after thruster issues following the launch of Boeing’s Starliner mission last year have now departed for Earth. Astronauts Butch Wilmore and Suni Williams undocked early Tuesday from the space-facing port of the ISS Harmony module in the SpaceX Dragon spacecraft, NASA confirmed. The pair are …
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Two key stories on The Hill right now:
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A federal judge ruled Tuesday that Elon Musk and the Department of Government Efficiency (DOGE) likely exercised unconstitutional authority “in multiple … Read more
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Chief Justice John Roberts issued a rare public statement Tuesday pushing back after President Trump called to impeach a federal judge that ruled … Read more
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Opinion related to tech submitted to The Hill:
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You're all caught up. See you tomorrow!
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