What J.D. Vance as Vice President could mean for the tech industry

Ohio Senator and bestselling author of Hillbilly Elegy, J.D. Vance, is now Donald Trump’s running mate for the 2024 presidential election. Vance’s career has taken him from law and tech to politics, and he has become a prominent figure in both Silicon Valley and conservative circles. His journey began in 2011 when, as a student at Yale Law School, Vance attended a talk by tech billionaire Peter Thiel. Thiel highlighted the opportunities available for law students in the tech industry, a moment Vance describes as “the most significant moment of my time at Yale.” Inspired, he began planning a career not in law but in tech, investments, and eventually politics.

In the years following Yale, Vance built connections within the conservative tech scene, particularly with figures like Thiel, David Sacks, and Marc Andreessen. Vance’s relationship with Sacks was instrumental in securing the VP nomination. At a lavish fundraising dinner at Sacks’ mansion, Sacks personally suggested to Trump that he consider Vance as his running mate.

Vance’s relationship with big tech as Ohio senator

Since his election to the Senate in 2022, Vance has emerged as a leading Republican voice advocating for greater regulation of the tech industry. His critiques target a range of issues, from censorship and free speech to the monopolistic power held by a few tech giants.

Vance is particularly concerned with the control that companies like Facebook and Google exert over public discourse. He argues that their influence on what information Americans can access poses a serious threat to free speech and open debate. Earlier this year, Vance shared at an event, “The fundamental question is how we create a competitive marketplace that’s pro-innovation and pro-competition, giving consumers meaningful choices without focusing solely on pricing power.” He praised Federal Trade Commission Chair Lina Khan for her aggressive stance against Big Tech.

Vance has also criticized platforms like ChatGPT, accusing them of being politically biased and advocating for more open-source alternatives. He remains cautious about tech companies pushing for AI regulation, fearing such moves could entrench the power of big firms while stifling smaller competitors.

Despite his criticisms, Vance acknowledges the importance of technological innovation for America’s economic future. However, he insists that innovation must be accompanied by responsible regulation to ensure it benefits all Americans, not just a wealthy few in Silicon Valley.

Vance’s view on cryptocurrency

Vance is a strong supporter of cryptocurrency, viewing it as a tool to counter government overreach. Trump’s acceptance of crypto donations further aligns with Vance’s support for the sector. Vance himself has reported Bitcoin holdings valued between $100,000 and $250,000 through the Coinbase platform. He has opposed strict tax reporting rules for crypto firms and co-sponsored the Financial Regulatory Accountability Act with two other senators. In 2023, he introduced a bill aimed at safeguarding crypto customers from banking restrictions and has been vocal in his criticism of the SEC’s regulatory approach toward the industry.

Vance’s stance on the tech industry reflects his broader vision of balancing progress with the needs of the American people. As he continues his political career, Vance is poised to remain a key figure in the ongoing debate over technology’s role in society. His unique perspective, shaped by his time in Silicon Valley and his Rust Belt roots, positions him as a formidable opponent to Big Tech. His evolving views and strong connections within the tech world give him a significant influence that will continue to shape discussions on technology and policy.