TechGods went from bit players in the political influence game to Masters of the PEUniverse. Private equity underwriters (PEU) had been the billionaire influencers driving government policy under Red and Blue political administrations over the last 25 years.
Senior TechGods got one if their own installed as Vice President, Junior TechGod and relatively new PEU (Narya Capital) J.D. Vance.
Vance has the personality of a seasoned TechGod apprentice, i.e. he talks like a machine, moves like a robot butler and wears makeup like most of the men and women in the Trump II White House. Makeup cannot cover a hollow heart and his Thiel programmed brain.
TechGods have been stealing intellectual property, a la China, for years. They openly admit it. I believe that is called criminal intent.
There's a new push from TechGods. It's called "Code is Law." The phrase is inane in and of itself. A criminal can write or use code to steal, defame, defraud, purloin, sexually predate or harass, incite violence, facilitate the movement of drugs, stolen funds and/or humans being illegally trafficked.
"Code is Law" is merely a front for "TechGods are Law." Code already spies widely. It steals wages and mileage reimbursement from workers.
It took people's bank accounts in the horrific case of Synapse, a fintech that marketed those accounts as "having FDIC coverage." TechGods walked away from Synapse's corpse, only to set up a Washington, D.C. office to ensure true accountability remained elusive.
Fintechs claim to have automated risk management to the point nobody checks anything. When the code falls apart and the TechGods walk away, all the King's horses asses and all of his henchmen will gather at the Executive Branch for some fine dining and Cabinet level jousting. There are no financial cops on the beat. They've all been dismissed.
Big financial houses responsible for due diligence have fallen prey to fintech scammers. First Brands fraud smacked Jeffries. Carriox Capital thumped BlackRock and BNP Paribas for over $550 million.
Trump II opened your 401(k) to such investments, private equity, private credit and crypto. Many have fallen to the temptation to garner outsized returns. Nobody warned us those outsized returns were already baked into the product by enterprising scammers.
The public was promised due diligence and investment grade quality. More lies from fintechs and TechGods. They will get theirs, even if it is at your expense.
Politicians Red and Blue love PEU and their new TechGod/CryptoBro brethren. Increasingly, more are one. The petulant, greedy lot needs to be tossed out and taxed mightily.