Silicon Valley helped elect a president who is clearly looking out for its interests – by weakening antitrust laws, rolling back regulations, cutting social programs, and loosening labor protections. This cozy relationship between the tech giants and Donald Trump was impossible to miss during the ceremony at the Capitol rotunda, where leaders like Mark Zuckerberg of Meta, Tim Cook of Apple, Sundar Pichai of Google, Jeff Bezos of Amazon, and Elon Musk of Tesla gathered. It was a clear sign of the massive influence the tech industry now has in shaping the future of both the US and the world. And it wasn’t just Big Tech that came out on top, crypto was another big winner of the election. What’s becoming clear is that we’re seeing the rise of a new elite within Silicon Valley. Gone is the libertarian, freewheeling spirit; in its place is something far more troubling – what I’d call “reactionary tech futurism”. It’s important to understand this shift, because it’s going to affect all of us for years to come.

Silicon Valley used to be seen as a “liberal mecca”, a hub shaped by the countercultural ideas of the 1960s. The mix of progressive ideals and faith in “free markets” and technology gave rise to a culture that believed innovation could solve the world’s problems without government interference. Richard Barbrook and Andy Cameron called this the “Californian ideology”. It inspired a generation of tech innovators who saw themselves as disruptors of old systems. But looking back, it’s clear this idealism often overlooked the potential dangers of unchecked corporate power, leaving us with a tech industry that thrives while often ignoring the societal consequences.

Silicon Valley’s shift to the right

As Silicon Valley’s power has grown, so has its political influence. Once largely supportive of Democratic candidates, the recent U.S. presidential elections saw a significant shift, with significant backing for Donald Trump, especially from figures like Elon Musk, who has pledged $45 million a month to a new pro-Trump Super PAC. In the past, Silicon Valley may have viewed Democrats as business-friendly or not seen much difference between the two parties. But as tech companies face increasing scrutiny, legal challenges, and the looming threat of breakups – especially regarding cryptocurrency and AI – the appeal of the Republican Party’s promise of fewer regulations has become undeniable.

Silicon Valley, which was once critical of Trump and his policies, now sees his leadership as a means to protect its interests and evade government oversight. This shift gives tech companies more freedom to grow, allowing them to gain increasing influence over government and industries. As a result, their power to shape policies and drive change becomes even more entrenched, often at the expense of public interest. It also shows that Silicon Valley’s shift to the Right isn’t just political. It’s a calculated move to protect profits and avoid any regulations that might limit their power. By backing an anti-regulation agenda, Silicon Valley leaders can push their business interests and capital accumulation deeper into other areas of society, sometimes presenting routine tech investments as “disruptive” and “revolutionary”, while continuing to open the door to unfair practices. Key figures like Peter Thiel, Elon Musk, and Marc Andreessen embody this new mindset – one seemingly aimed at replacing democratic values with a system that prioritizes corporate power.

In this worldview, corporations step in where governments once led, with business deals and transactions replacing voting and civic engagement. Nick Land, a philosopher who has had a big influence on both Silicon Valley elites and parts of the alt-right, puts it as a choice between “voice” and “exit”. If democracy isn’t working, why not just “opt out”? Tech elites picture a world where they can live in tax-free, private enclaves with little to no interference from the government. Quinn Slobodian digs into this idea in his book Crack-Up Capitalism.

The hatred of democracy

Many in this techno-reactionary crowd see democracy itself as a problem. They view it as outdated and divisive – a relic to be contained or ignored. The political philosopher Jacques Rancière captured this attitude years ago with his term “hatred of democracy”, which Silicon Valley’s new reactionaries seem to share as they rework finance, media, and culture in ways that diminish democratic influence. Ultimately, this reactionary futurism imagines a world beyond politics, where unregulated tech and capitalism reign supreme. Land calls it “corporate governance”, a system where tech billionaires, not citizens, make the rules. This vision has gained support from thinkers like Curtis Yarvin, whose ideas have influenced figures like Thiel, U.S. Vice President-elect JD Vance, and conservative politicians. In this world, corporations answer to no one but themselves.

For many of these elites, unchecked capitalism isn’t just efficient – it’s morally right. Thiel’s famous remark, “competition is for losers”, really captures this mentality. It’s no surprise, then, that Ayn Rand’s philosophy of extreme individualism strikes a chord with tech leaders. Her ideas offer a perfect excuse to dismantle progressive values, social justice, and the welfare state. For them, Silicon Valley is like an Ayn Randian dream world, where corporations don’t just play by the rules of politics. They rewrite them, pushing aside democratic processes in favor of corporate rule.

While Silicon Valley still promotes a progressive image, it has become a machine for private profit, driven by big corporations, crypto, and the military-industrial complex. This isn’t just about social media platforms pushing propaganda. Tech billionaires control much of our digital infrastructure, and many are open, if not eager, to promote authoritarian values. As a result, our public spaces, online and offline, have been privatized and commercialized, leaving many people feeling disoriented, disconnected, and isolated. The utopia Silicon Valley once promised now looks more like a hyper-commercialized dystopia, where innovation is driven by profit rather than public good, where tech lords exploit ecological collapse, profiting from the very destruction they contribute to, while exacerbating inequalities and fueling a cycle of devastation – an “extinction loop” – where collapse becomes just another resource for the elite to capitalize on.

With the libertarian era of Silicon Valley fading, we’re entering a reactionary tech future. Recognizing this shift and finding ways to respond is essential if we are to protect democratic values in an already dystopian, capital-driven world.

 

Ali Rıza Taşkale, a Marie Skłodowska-Curie Postdoctoral Fellow in the Department of Social Sciences and Business (ISE) at Roskilde University, is the author of Post-Politics in Context (Routledge, 2016). His work has appeared in leading journals, and his current research examines the critical intersections of speculative fiction and speculative finance. He also serves on the editorial board of Distinktion: Journal of Social Theory.

This is the eleventh contribution of PERC’s series on the Silicon Valley ideology. If you wish to get involved or would like to pitch an idea for a contribution, get in touch with our editor Carla Ibled (carla.ibled[at]durham.ac.uk).