🗿The role of US presidents in tech

In partnership with

GM. It’s August. Put down your Aperols because US election season is upon us.

For today’s newsletter, I’m going to break down what a US president can and should do for tech – specifically AI and crypto.

No mention of candidates (besides outlining Yang’s prescient proposal for a Technology department in 2020). Just raw facts and some guidance.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

FREE AI & ChatGPT Masterclass to automate 50% of your workflow

More than 300 Million people use AI across the globe, but just the top 1% know the right ones for the right use-cases.

Join this free masterclass on AI tools that will teach you the 25 most useful AI tools on the internet – that too for $0 (they have 100 free seats only!)

Get it now for absolutely free! (for first 100 users only) 🎁

This masterclass will teach you how to:

• Build business strategies & solve problems like a pro

• Write content for emails, socials & more in minutes

• Build AI assistants & custom bots in minutes

• Research 10x faster, do more in less time & make your life easier

You’ll wish you knew about this FREE AI masterclass sooner 😉

Register & save your seat now! (valid for next 24 hours only!)

How much can the president actually influence tech regulation?

We’ve been wondering.

Does the US election really mean that much for AI and crypto? Or are election headlines smoke and mirrors?

Let’s start with the high level “why it matters” – especially if you don’t live in the US.

1. The US has the highest GDP and is home to some of the largest financial institutions in the world.

2. The US is a global leader for technology and innovation.

3. The US has not been clear about its relationship with new technologies like AI and crypto.

4. This gray relationship negatively impacts the global growth and adoption of new technology.

So how could a new president influence the future of tech?

Significant influence, limited direct powers.

• They can set policies or direct federal agencies to take specific actions regarding technology, such as cybersecurity measures or privacy protections via executive orders

• The president can appoint heads of key federal agencies, such as the Federal Trade Commission (FTC) and the Federal Communications Commission (FCC), which regulate tech industries. These appointments can shape the regulatory approach of these agencies. More on appointments in a minute

• The president can advocate for new laws or amendments to existing laws related to technology by working with Congress. The president cannot pass laws. But their support can influence the legislative agenda and priorities.

• They have the power to negotiate trade agreements and impose tariffs, which can affect the tech industry, especially in areas like intellectual property protection and technology transfers.

• TikTok bans. The president can enact national security-related executive actions that impact technology. Like banning foreign companies from operating in US jurisdiction or restricting the export of sensitive technologies. The is especially relevant for crypto companies too.

• The president can also influence tech regulation via budgets proposals that allocate funding to specific regulatory initiatives or research and development programs in technology.

It’s important to highlight the “public influence” impact of the White House occupant. If a president goes all-in on innovation in blockchain and AI, this would inevitably lead to more positive consideration in other parts of the government and even private sector.

The president can use their platform to shape public opinion and industry practices by highlighting specific issues, encouraging voluntary standards, and calling for industry cooperation on matters like misinformation, data privacy, and cybersecurity.

Taking some lessons on tech policy from Yang’s 2020 campaign

Andrew Yang, founder of Venture For America of which I’m an alum, highlighted the need for a Technology Department in federal government back in 2020.

This is what he proposed:

Technological innovation shouldn’t be stopped, but it should be monitored and analyzed to make sure we don’t move past a point of no return.

This will require cooperation between the government and private industry to ensure that developing technologies can continue to improve our lives without destroying them.

We need a federal government department, with a cabinet-level secretary, that is in charge of leading technological regulation in the 21st century.

His call-to-action:

What We’re Reading

• EU AI Act Goes Into Effect

• US Issues Stricter Limits on AI Memory Access For China

• UAE Blocks US Congressional Meetings With G42 Amid AI Transfer Concerns

• US Listed Crypto Stocks Jump After Trump Speech

• ESMA Warns On Non-EU Crypto Venues

Reach 200,000+ Tech Consumers and Brands

This is NOFOMO, the newsletter keeping you up-to-date on all things emerging tech — from AI and Blockchain to Virtual Reality.

Advertise with our media conglomerate of thoughtful content creators the digital landscape: X, LinkedIn, Podcasting, Email, etc. We offer exclusive access to a real, engaged community of over 200,000 tech professionals boasting millions of monthly impressions and real results.

Our discerning readers are always looking for the latest tools and products in the industry. Connect with the right people and transform your business.

Request a media kit.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.