### Elon Musk to Lead New Government Efficiency Commission Under Trump Administration

The global business magnate Elon Musk has taken on a new role as part of the incoming Trump administration. Recently named to head the "Department of Government Efficiency," Musk's exact duties within the commission remain somewhat ambiguous. However, recent social media activity has given some insight into the commission's initial moves.

In a post on Thursday morning, the commission invited individuals to apply for membership, seeking "super high-IQ small-government revolutionaries" willing to put in over 80 hours a week dedicated to rigorous cost-cutting efforts. Prospective applicants were encouraged to send their resumes via direct message to the Department of Government Efficiency on the social media platform X.

According to sources cited by the Wall Street Journal, Musk plans to focus his cost-cutting measures on several major federal agencies, including the Federal Trade Commission (FTC), Internal Revenue Service (IRS), Justice Department (DoJ), and Securities and Exchange Commission (SEC). Musk also endorsed a New York Post analysis listing potential areas to curb government spending, suggesting cuts in various expenditures ranging from maintaining underutilized government buildings to smaller, questioned expenses, such as a $20,600 allocation for a diversity exhibit in Ecuador.

Last month, Musk indicated he could identify at least $2 trillion in potential cuts from the federal government's $6.75 trillion budget. However, Scott Bessent, considered the leading candidate for Treasury secretary under Trump, expressed skepticism, noting he wasn’t sure how Musk arrived at that figure. Despite his doubts, Bessent acknowledged Musk's successful management of his own companies.

Unlike other federal advisors, Musk will not be required to divest from his private ventures, meaning he can continue leading his enterprises, including Tesla, SpaceX, and the AI startup xAI. Analysts like Dan Ives from Wedbush have expressed optimism about Musk’s dual roles, noting that the potential benefits for Musk and Tesla outweigh any possible drawbacks. Tesla's stock has surged over 25% since the recent election.

Musk’s reported focus on cost-cutting within the FTC, IRS, DoJ, and SEC—the very agencies that regulate his own companies—raises concerns about conflicts of interest. Senator Elizabeth Warren took to social media to sarcastically critique the commission’s structure, which pairs Musk with another leader, implying inefficiency.

Interestingly, Dogecoin, the meme cryptocurrency famously endorsed by Musk, has seen a substantial rise since the announcement of the new commission. Up by around 10%, Dogecoin has outpaced even the substantial post-election gains of Bitcoin, positioning itself as the world's sixth most valuable cryptocurrency with a market cap of $57 billion. Muskingly, Musk quipped about the "funniest name" for the new commission being DOGE during a chat with Joe Rogan.