Musk’s Influence Shapes Policy in Favor of Corporate Interests
Elon Musk has positioned himself as a champion of free speech and technological advancement, but his actions tell a different story. His growing influence in Washington, particularly within the Trump administration, signals a shift that does not align with the interests of working-class Americans. Instead, policies have begun catering to corporate giants while leaving labor protections and financial oversight weakened.
“The Consumer Financial Protection Bureau (CFPB) had been instrumental in regulating financial institutions that overreach into personal freedoms,” said Sohrab Ahmari, a journalist at UnHerd. Rohit Chopra, the outgoing director under the Biden administration, introduced a rule preventing financial institutions from terminating customer accounts based on political beliefs. Musk, however, pushed for the elimination of the CFPB, aligning himself with tech moguls who seek to evade regulatory scrutiny. “Musk had said that the CFPB must die, and sure enough, it did,” Ahmari added. His motives appear clear: dismantling oversight that could hinder his ambition of transforming X into an all-encompassing financial platform.
Labor Protections Weakened Under Pressure
The National Labor Relations Board (NLRB) has also faced significant disruption. Trump’s administration dismissed Gwynne Wilcox, a board member legally protected from removal without cause. This action effectively crippled the agency’s ability to enforce labor laws, preventing it from addressing unfair labor practices. “What I have heard is that they intend to keep things that way, essentially crippling the agency,” Ahmari explained.
Musk and other corporate leaders have pursued lawsuits to challenge the legitimacy of labor protections, including the Wagner Act, which has safeguarded collective bargaining rights for nearly a century. By undermining the NLRB, Musk and his allies have made it more difficult for workers to organize. This move benefits large corporations at the expense of employees who seek fair wages and better working conditions. With fewer legal protections, companies like Tesla and Amazon gain even greater control over their workforce, limiting employees’ ability to demand improved treatment.
The Illusion of Populist Reform
Trump’s campaign promised a government that serves the people, but the reality has unfolded differently. Musk and his Silicon Valley counterparts have positioned themselves as disruptors, but their priorities focus on personal gain rather than meaningful reform. Mark Zuckerberg and other tech executives have echoed similar concerns about regulatory oversight, not out of concern for the average citizen but to protect their financial interests.
Public discussions have framed these regulatory rollbacks as efforts to eliminate waste and inefficiency, yet they primarily serve corporate leaders who stand to benefit. Stripping agencies of their ability to hold businesses accountable does not translate into greater freedoms for workers; rather, it consolidates power among a select group of individuals who already wield significant influence.
A System Built to Protect Corporate Elites
The deregulation of financial and labor protections reflects a broader pattern where political influence secures economic advantages for the wealthiest. The dismantling of the CFPB benefits tech companies that wish to expand into financial services without facing scrutiny. Similarly, weakening the NLRB ensures that corporations can operate without interference, even when their practices harm employees.
This dynamic has placed workers at a disadvantage, with fewer mechanisms available to challenge exploitative practices. “Elon wants to create an app out of X that is not just a social media company but a kind of everything app like they have in China with WeChat,” Ahmari noted. The promise of economic populism under Trump’s leadership has instead facilitated an environment where oligarchs dictate policy. The influence of figures like Musk has turned government priorities away from those who need economic security and toward those seeking corporate dominance.
Corporate Takeover of Government Decisions
Musk’s ambitions extend beyond social media and electric vehicles. His vision includes transforming X into a super-app that handles everything from social interactions to financial transactions. The removal of regulatory barriers makes it easier for him to expand into these areas without facing accountability. His push for deregulation under the guise of innovation threatens to erode financial security and labor protections for millions of Americans.
While Musk and his allies present themselves as defenders of free enterprise, their actions indicate a broader agenda of self-enrichment. The working class remains an afterthought in this equation, left to navigate an economic landscape increasingly shaped by those who prioritize corporate expansion over worker stability.
The influence of Silicon Valley within the Trump administration suggests that future policy decisions will continue favoring corporate leaders rather than addressing the concerns of everyday Americans. “Trump will have to choose: populism or Elon Musk,” Ahmari warned before the election. The working class, once central to Trump’s messaging, now finds itself sidelined in favor of tech moguls who seek greater power with fewer restrictions. The question remains: how much more will be sacrificed in the pursuit of corporate-driven governance?
