Daily Management Review

Heads of tech giants to meet with Trump


12/12/2016


Directors of Alphabet, Apple, Microsoft, Facebook, Intel, Cisco, IBM and Oracle have been invited to a meeting with Donald Trump in the Trump Tower in New York City on Wednesday, December 14, according to Recode, citing sources.



Gage Skidmore
Gage Skidmore
The publication notes that the meeting with US President-elect will welcome heads of those companies, which activities in the high-tech sector are considered key. In particular, Mr. Trump will host Operational Head of Facebook Sheryl Sandberg, Head of Microsoft Satya Nadella, Corporate Director of Alphabet Larry Page, as well as Chairman of Alphabet’s board of directors Eric Schmidt.

It is noted that the meeting was organized by one of PayPal’s founders, and a member of Trump’s transition team Peter Thiel.

Head of Tesla Motors Elon Musk is also invited to the meeting and is going to come, according to Wall Street Journal, citing people familiar with the situation. The publication did not explain objective of the meeting, however, Trump reiterated need to increase number of jobs in the United States. As noted by the media, companies such as Apple and IBM have been known to create jobs abroad.

Amazon’s founder and CEO Jeff Bezos was also invited and will probably take part in the meeting. It was noted before that Amazon’s Head is in a strained relationship with Trump. According to President-elect, Amazon pays too low taxes, and is not persecuted antitrust authorities because founder and CEO of the company is also owner of The Washington Post.

According to Trump, Bezos is using influence of the newspaper to protect Amazon from any encroachments, and hold information campaigns.

Apparently, Trump is ranking on Amazon’s Head due to the fact that The Washington Post earlier published negative statements about the future president. Trump believes that somehow Bezos has reduced his chances of winning. Trump's victory led to Amazon’s shares falling 2.6% overnight.

Elon Musk’s presence at the meeting is also important for his company’s future. Earlier, renewable energy was considered an important industry, and ‘green’ companies received subsidies and economic preferences. Trump, however, is not their biggest fan, and so active support of companies, such as Tesla Motors, may cease.

In particular, the new government may cancel tax incentives for consumers to purchase electric cars. This means that price tag on Tesla Model 3 will rise from $ 27 500 to $ 35 000. A number of solar energy R&D companies, such as SolarCity of the same Elon Musk, will also suffer losses if their customers do not receive financial incentives to purchase of electricity.

"I plan to tell President-elect, that we are with him and will help him any way we can, - said CEO of Oracle Safra Katz in a written statement. If he can reform the tax laws, reduce regulation, achieve the best conditions for trade transactions, the American technology community will become stronger and more competitive than it has ever been." 

source: recode.net, wsj.com






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