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Silicon Valley venture capitalists, who contributed significantly to Donald Trump's campaign, are now preparing for a transformative period in the tech industry. Shervin Pishevar, an influential venture capitalist, expressed his excitement to Yahoo Finance, predicting a surge in American innovation over the next four years. "I think there's going to be a renaissance of innovation in America and we're going to do more in four years than we've done the last 40 years," Pishevar stated.

In June, a Trump fundraiser co-hosted by Pishevar at the home of entrepreneur and investor David Sacks managed to raise $12 million in just one day. Major Silicon Valley figures like Marc Andreessen and Peter Thiel also supported Trump's reelection campaign. Before venturing into politics, Vice President-elect JD Vance had ties to the venture capital world through a brief stint and a close relationship with Thiel.

On the other side of the political spectrum, Vice President Kamala Harris received backing from nearly 900 venture capitalists, a movement known as "VCs for Kamala." Among her supporters were prominent figures like Mark Cuban, Vinod Khosla, Ron Conway, and Reid Hoffman. Despite their efforts, it wasn't enough to secure victory.

Stephen DeBerry, a venture capitalist and supporter of Harris, highlighted ongoing internal discussions within Silicon Valley regarding the political shift. Many investors and founders interviewed by Yahoo Finance anticipate that Trump's policies will ease regulatory constraints, facilitating innovation and business expansion. Frustrations with Democratic policies often stemmed from concerns about high taxes, overregulation, and antitrust laws.

"The tech ecosystem is going to grow really fast - much faster than the last four years," Pishevar claimed, pointing out difficulties VCs faced in raising capital recently. He anticipates significant positive changes ahead.

As Trump prepares to take office, one of his immediate actions may involve reversing President Biden's executive order on AI, alongside implementing a stringent tariff policy on imports, particularly from China. DeBerry mentioned that such tariffs could impact businesses reliant on Chinese products, eventually affecting consumer prices.

Despite some apprehensions, Wall Street celebrated Trump's victory, with significant gains led by major tech companies like Nvidia. Pishevar viewed this as an indicator of upcoming economic prosperity. "I think we're going to have an economic boom, we'll control inflation, create a lot of jobs," he said.

Elon Musk, CEO of Tesla and owner of companies like X, SpaceX, Neuralink, and xAI, contributed over $130 million to Trump’s campaign. Following Trump's win, Musk saw his net worth increase by more than $20 billion as Tesla shares surged nearly 15%.

In his victory speech, Trump lauded Musk as a "new star" and a "super genius," though both Musk and Trump have downplayed the idea of Musk holding an official government role. However, speculation remains about Musk's potential influence as an adviser.

"I think America needs to be run like a startup," Pishevar remarked regarding Musk's role, praising him as the greatest entrepreneur of our time. Musk himself has proposed the creation of a "Department of Government Efficiency" to reduce federal spending. "We're going to get the government off your back and out of your pocketbook," he declared at a recent Trump rally, suggesting he could cut $2 trillion from the federal budget, which stood at $6.75 trillion in fiscal year 2024 according to the Treasury Department.