Clear. 39.7   F New York
AI-Powered News Summarizer
Technology

Why Big Tech may be hoping for a Joe Biden presidency

November 4, 2020. Summarized by summa-bot.

Democratic presidential candidate former Vice President Joe Biden speaks at Mountain Top Inn & Resort, Tuesday, Oct. 27, 2020, in Warm Springs, Ga. (AP Photo/Andrew Harnik)

The giants of Silicon Valley -- like other big US firms —benefited from corporate tax cuts implemented under President Donald Trump. In many cases, smaller tax payments helped to boost profits. However, not all of Trump's policies and actions during his first term played well with Big Tech.

Big Tech — like other large US companies — benefited from corporate tax cuts implemented under President Donald Trump.

Another shift under Trump that could threaten Big Tech's success: America's changing "standing in the world," said Mark Lemley, a professor at Stanford Law School and director of the Stanford Program in Law, Science and Technology.

Employees at Big Tech companies appear to largely support Biden — a CNN review of campaign reports in September showed that workers at Amazon, Google, Facebook and Apple donated three times more to Biden's campaign in July than to Trump's.

Beyond tech, many American corporate leaders have said they favor Biden, whose actions some think could be more predictable than Trump's, despite risks of higher corporate taxes and increased regulations.

Silicon Valley condemned Trump's restrictions on visa programs that tech companies rely on to bring in skilled foreign workers.

The White House also implemented tariffs on US goods made in China, and Trump has said he wants tech companies to bring manufacturing and production to the United States.

Biden, like Trump, has called for repealing Section 230, the law that protects tech companies' ability to moderate content as they see fit, without being held liable for, say, users posting hate speech.

If, under Biden, Democrats introduced new regulations to replace Section 230, tech companies would likely welcome that more than a plan that simply removes the liability protection Section 230 provides, Lemley said.

Summarizer is on Google News. Now you can get the latest AI summarized news on your favorite news platform.

Don't like Google News? We have an RSS Feed for you.

Suggestions