If the influence of technology leaders was ever in doubt it is now clearly visible. When Elon Musk made a decision to buy Twitter it was not clear how the billionaire would use the social media platform. People who understood technology knew that he would turn it around and build something more than just a social media platform. We now know that it has been used as a very powerful tool leading up to the US elections. Post elections it will become a tool that will be used in favour of the former President whether he wins or not. If Trump becomes a US President, Elon Musk will probably become one of the most influential people in history. His companies that include SpaceX, Tesla, Boring Company and Neuralink will probably have unfettered access to US government power. This will probably be achieved under a new government department that may be formed under the Trump Presidency, the Department of Government Efficiency. Trump promised once that he would setup such a government entity and enable Musk to lead it. "I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government," Trump told an audience that included Trump's former treasury secretary, Steve Mnuchin, and financiers Scott Bessent and John Paulson.
Jeff Bezos is another technology leader whose influence has been visible during the 2024 elections. It is reported that he stopped the Washington Post (a publication he owns) from endorsing any candidate which is a practice that was a norm for the US newspaper. It is also reported that the Washington Post editorial team had already decided to endorse Kamala Harris. During the same period leaders from companies owned by Bezos were meeting with the Presidential candidate, Donald Trump.
The world has seen enough to get the understanding that technology leaders rule the world. Their influence has gone beyond just the machines and algorithms. The very fabric of society is now in the hands of technology leaders. As everything becomes technology powered and driven the people who create such technology maintain the power. It’s clear that the power of technology leaders has gone beyond national boundaries. The question that should be upper most amongst those who care about the future of society ought to be about the shape of governance measures of not just elected leaders but also technology leaders who back them. Further consideration has to be given to creators of systems that are used across nations. Leaders of such platforms and systems have immense influence that can turn nations around. Accountability for leaders of global platforms is not global but remains a national process.
If there’s any lesson from the Elon Musk involvement in US domestic issues it is that leaders of technology leaders are not neutral as we always assumed. This episode has taught us that technology leaders are extremely powerful and possibly, more than we’ve imagined. The transparency in this regard is important as it informs decision makers fully about who they dealing with when they buy technology products for national objectives. Such power however has to be accompanied by balanced form of accountability. The bigger question is, who will hold big tech leaders accountable?
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