Billionaires like Bezos and Zuckerberg may believe that supporting Trump will benefit them in the short term, such as through loosened regulations or subsidies. However, they overlook the long-term risks of autocratic regimes, which often undermine business and economic stability by eroding trust in the rule of law.
Trump's re-election could lead to a profound undermining of trust in the relationship between government and business. This could result in a less favorable environment for investment and economic growth, as businesses may lose confidence in fair contracts, neutral courts, and the enforcement of laws.
Hungary, often admired by far-right figures, has become one of the poorest countries in Europe due to its concentration of power in a few oligarchs. This has led to corruption, a poor investment climate, and a decline in economic stability, mirroring the potential risks for the U.S. under similar conditions.
Peter Thiel and others envision a transition to a techno-oligarchic regime where unelected billionaires, such as Musk and Thiel, wield significant influence over politics and decision-making, reducing the role of ordinary citizens in governance.
Russia's economy is shifting towards war production due to its ongoing conflict in Ukraine. This has led to significant investment in weapons and military technology, making it difficult for Putin to reverse course without facing economic and political consequences.
TikTok was used to fund a far-right candidate's campaign in Romania, violating local election laws. The Romanian High Court ultimately annulled the election due to the illegal use of social media for campaigning, raising questions about the enforceability of local laws in the age of global platforms.
The Assad regime collapsed suddenly when the Russian and Iranian support waned, leading to a loss of faith among security forces. This demonstrates that even brutal regimes can fall quickly if their ability to protect their supporters is compromised, highlighting the fragility of such systems.
Israel's attacks on Gaza and Lebanon, while weakening Iran and Hezbollah, have also contributed to a sense of lawlessness in wartime. This undermines international law and the protection of civilians, potentially setting a dangerous precedent for other conflicts.
The billionaires rushing to get on board with Trump, and contributing millions for his inauguration, may have missed this key detail: Enhancing the power of a leader—to bend the rules and undermine the rule of law—is often very bad for business. Meanwhile, Team Trump is distracting the media and the public with the firehose of nominations. Plus, election laws v TikTok and Elon, how brutal regimes can quickly die, and the impact of Israel's campaigns on international law during wartime.
Anne Applebaum joins Tim Miller. *Show notes: *
- Anne's recent piece on Syria, and potentially other brutal regimes, falling quickly )
- Video of Clarissa Ward finding a Syrian prisoner who didn't know about the fall of Assad )
- Tim's playlist )