• Home
  • Mail
  • Flickr
  • Tumblr
  • News
  • Sports
  • Finance
  • Celebrity
  • Answers
  • Groups
  • Mobile
  • More
  • FirefoxTry Yahoo Finance on Firefox »
Yahoo
    • Sign in
    • Mail
    Finance Home
    • Originals
    • Events
    • Personal Finance
    • Technology
    • Markets
    • Industries
    • My Screeners
    U.S. Markets open in 5 hrs 20 mins
    • S&P Futures
      2,262.75
      -1.50 (-0.07%)

    • Dow Futures
      19,812.00
      -9.00 (-0.05%)

    Tech leaders couldn't beat Trump; they'll meet him instead

    Michael Liedtke, AP Technology Writer
    Associated PressDecember 13, 2016

    SAN FRANCISCO (AP) -- Technology leaders are about to come face-to-face with President-elect Donald Trump after fiercely opposing his candidacy, fearful that he would stifle innovation, curb the hiring of computer-savvy immigrants and infringe on consumers' digital privacy.

    On Wednesday, Silicon Valley luminaries and other technology leaders are headed to Trump Tower in New York to make their peace — or press their case — with Trump and his advisers. The CEOs planning to attend include Apple's Tim Cook, Alphabet's Larry Page, Microsoft's Satya Nadella, Amazon's Jeff Bezos, Intel's Brian Krzanich, IBM's Ginni Rometty, Oracle's Safra Catz and Cisco Systems' Chuck Robbins.

    Facebook's chief operating officer, Sheryl Sandberg, will be on hand instead of its CEO, Mark Zuckerberg, who was one of many tech executives to express misgivings about Trump's pledge to deport millions of immigrants.

    TECH VS. TRUMP

    It could be a prickly meeting.

    No other industry was more open in its contempt for Trump during the campaign. In an open letter published in July, more than 140 technology executives, entrepreneurs and venture capitalists skewered Trump as a "disaster for innovation."

    And Trump's denigration of Mexicans, his pledge to deport millions of immigrants now living in the U.S. illegally, and his crude remarks about women were widely viewed as racist, authoritarian and sexist by an industry that prides itself on its tolerance.

    Trump, in turn, sometimes lashed out at the industry and its leaders.

    He lambasted Bezos for the campaign coverage of his newspaper, The Washington Post, and suggested that Amazon could face antitrust scrutiny if he was elected.

    Trump also rebuked Cook for fighting a government order requiring Apple to unlock an encrypted iPhone used by a shooter in last year's terrorist attack in San Bernardino, California.

    And Trump's repeated screeds against immigrants raised fears that he might dismantle programs that have enabled tech companies to hire tens of thousands of foreign workers with the skills to write computer programs, design web pages and build mobile apps.

    The industry is also worried that Trump might try to undermine "net neutrality," a regulation requiring internet service providers to offer equal access to all online services. Trump's harsh characterization of the media as dishonest and unfair has raised other fears that he might even try to restrict free speech online.

    OUT OF STRIFE, PEACE?

    Some in Silicon Valley think the industry's best move would be to keep its distance until Trump changes his tone. Former Google executive Chris Sacca, now a tech investor, argues that industry leaders should steer clear of the meeting altogether.

    Sitting down with the president-elect "would only make sense after Trump has given public assurances he won't encourage censorship, will stop exploiting fake news, will promote net neutrality, denounce hate crimes, and embrace science," Sacca said. "If and until then, tech figures who visit are being used to whitewash an authoritarian bully who threatens not just our industry, but our entire democracy."

    Most of the companies with executives attending Wednesday's meeting declined to comment ahead of the gathering. But Oracle's Catz said in a statement that she plans to tell Trump "that we are with him and are here to help in any way we can. If he can reform the tax code, reduce regulation, and negotiate better trade deals, the U.S. technology community will be stronger and more competitive than ever."

    Other tech institutions are also signaling an end to the animosity.

    The Internet Association, a trade group whose members include Google, Facebook and Amazon, praised Trump in an open letter last month for his use of Twitter and other digital tools to help him get elected. The letter also appealed to Trump's emphasis on the economy, citing statistics estimating that the internet sector accounted for nearly $1 trillion of the country's gross domestic product.

    Some conservatives say they're actually worried that Trump might get too friendly with tech. Peter Flaherty, the president of the National Legal and Policy Center, charges that big technology companies exploited their close relationship with President Obama "to feather their nests and push for policies that benefit them at the expense of the American worker."

    Trump spokeswoman Hope Hicks said by email that the president-elect "looks forward to meeting with this important group of industry leaders and true innovators."

    COMMON GROUND: TAX CUTS

    The technology industry already supports one of Trump's ideas. He has promised to temporarily reduce the corporate tax on foreign profits from the current 35 percent to 10 percent to give U.S. companies an incentive to bring their overseas cash back home.

    It's a cut that Cook has been pushing Congress to make because Apple has $216 billion, or 91 percent of its total cash, in overseas accounts. Other tech companies in line to benefit the most from a tax reduction include Microsoft, Cisco, Microsoft and Google's corporate parent, Alphabet.

    But Trump might not be doing many other favors for technology companies given his history of holding grudges against his opponents, said Larry Irving, a former government affairs executive for Hewlett-Packard who now runs a consulting firm.

    "Everything Trump has done so far suggests that he rewards loyalty and punishes disloyalty," Irving said. "The tech industry better have some pontoons ready."

    Recently Viewed
    Your list is empty.

    What to Read Next

    • Intelligence chief: Russia’s election interference went far beyond hacks

      Yahoo News
    • Four charged in Chicago over beating broadcast on Facebook

      Reuters
    • Here's what Goldman Sachs told its millionaire clients about 2017

      Yahoo Finance
    • Obama's last White House party line-up outclasses Trump's inauguration plan

      International Business Times UK
    • Bernie Sanders displays giant Trump tweet on Senate floor

      Yahoo News
    • Is your Sears or Macy's closing? Here's a look at the stores that will go dark

      CNBC
    • Sears is closing 150 stores — here's the full list

      Business Insider
    • Self-made millionaire: Forget skipping Starbucks. Here are 5 real ways to get rich

      CNBC
    • See Inside Ivanka Trump and Jared Kushner's New House in Washington

      Town & Country
    • Taking Stock of the U.K. Housing Market

      Bloomberg Video
    • Breast-pumping moms can now go wireless

      Yahoo Finance
    • These 5 historic properties are on sale for less than $250,000

      Yahoo Finance
    • Scientists might be seriously underestimating the risk of a major freeze in Europe

      Business Insider
    • A self-made millionaire explains how a 'painful' money mistake he made in college led him to the investment strategy that made him rich

      Business Insider
    • Japan's 'Tuna King' wins annual auction for $636,000

      AFP
    • CCLA's Bevan: S&P 500 Can Get to 2500 Points

      Bloomberg Video

    U.S. intel report identifies Russians who gave emails to WikiLeaks -officials

    Questell: OK, Republicans, who do you trust more? American intelligence agencies or Russian agencies?

    Join the Conversation
    1 / 5

    4.6k

    • JOBS ON DECK — What you need to know in markets on Friday

      Yahoo Finance
    • Reaction: US intelligence chiefs say Russia poses a major threat

      CNBC
    • Don't carry these 5 things in your wallet

      Yahoo Finance
    • 13 things to give up if you want to be successful

      CNBC
    • Kim Jong Un's Decapitation Planned By South Korea?

      International Business Times
    • Aon Hewitt's Datta: China Outflow Problem May Worsen

      Bloomberg Video
    • CES 2017 Wrap-up: Day 2

      JP Mangalindan
    • The big thing in TV sets this year is ... big TV sets

      Associated Press
    • Self-made millionaire: The 'one, proven, easy way to get rich'

      CNBC
    • The death of malls is going to reshape the teen experience in America

      Yahoo Finance
    • Astronomers have found the source of a deep space radio wave burst for the first time

      The Verge
    • LaSalle's Mokrane: Why I'm Positive on EU Real Estate

      Bloomberg Video
    • 5 ways your personal finances will change in 2017

      Yahoo Finance
    • Here’s how to figure out your full retirement age

      Yahoo Finance
    • Everybody’s getting Trump’s infrastructure plan wrong

      Yahoo Finance
    • This Republican congresswoman's Twitter poll on Obamacare didn't go very well for her

      CNBC
    • Data Disclaimer
    • Help
    • Suggestions