At the 2024 New York Times DealBook Summit, Elon Musk dominated conversations despite his physical absence, with prominent AI executives and business leaders weighing in on his new political role. Musk, who has become a close advisor to President-elect Donald Trump and co-leader of the proposed Department of Government Efficiency (DOGE), drew reactions ranging from cautious optimism to indifference from fellow billionaires and tech leaders.
Sam Altman, CEO of OpenAI and Musk’s former co-founder at the AI company, offered nuanced commentary on his one-time “mega hero.” Despite their ongoing personal and legal feud, Altman praised Musk’s ambitious vision that inspired many in the tech industry to “think much more ambitiously.” However, Altman expressed confidence that Musk wouldn’t abuse his political proximity to Trump, stating it would be “profoundly un-American” to use political power to hurt competitors or advantage his own businesses, including xAI, Musk’s artificial intelligence venture.
Sundar Pichai, CEO of Alphabet and Google, acknowledged Musk’s xAI as a “formidable competitor” in the AI space, citing “Elon’s track record” as a significant factor. This recognition comes as xAI competes directly with Google’s AI initiatives in an increasingly crowded artificial intelligence market.
Jeff Bezos, whose Blue Origin competes with Musk’s SpaceX, took a wait-and-see approach, expressing hope that Musk’s stated intentions to operate “above board in the public interest” would prove accurate. Bezos said he would take at “face value” claims that Musk won’t leverage political power for business advantage.
Billionaire hedge-fund manager Ken Griffin praised Musk’s “entrepreneurial ability” in running Tesla and SpaceX at exceptional levels, while questioning his potential impact on federal spending. Griffin warned that cutting “trillions of dollars” from the federal budget would prove “politically very unpopular.”
Political figures appeared less concerned. Federal Reserve Chair Jerome Powell expressed confidence in the Fed’s independence, despite Musk’s support for bringing the central bank under presidential control. Former President Bill Clinton was notably dismissive, suggesting Trump values Musk primarily for being “the richest guy on Earth” and calling the relationship “no big deal.”
Musk contributed approximately $119 million to Trump’s campaign, making him one of the president-elect’s largest donors. His absence from this year’s summit contrasted sharply with last year’s appearance, where he infamously told X advertisers to “go fuck themselves.”
Key Quotes
At a time when most of the world was not thinking very ambitiously, he pushed a lot of people, me included, to think much more ambitiously.
OpenAI CEO Sam Altman said this about his former co-founder Elon Musk, acknowledging Musk’s positive influence on the tech industry despite their current legal and personal disputes. This statement reflects the complex relationship between two of AI’s most prominent figures.
It would be profoundly un-American to use political power, to the degree that Elon has it, to hurt your competitors and advantage your own businesses.
Sam Altman made this pointed statement about the potential for Musk to abuse his political proximity to President-elect Trump. This quote establishes public expectations and serves as a warning against anticompetitive behavior in the AI industry.
I take it face value what has been said, which is that he is not going to use his political power to advantage his own companies or to disadvantage his competitors.
Jeff Bezos offered this cautiously optimistic take on Musk’s political role, expressing hope that Musk will operate ethically despite their business competition. The statement reflects a wait-and-see approach from fellow tech billionaires.
Being the richest guy on Earth is far more important than anything else that you could be to him. That’s what he values. It’s no big deal.
Former President Bill Clinton dismissed concerns about Musk’s influence with this characterization of Trump’s relationship with the tech billionaire, suggesting the partnership is transactional rather than ideological.
Our Take
The DealBook Summit revealed a strategic dance among AI leaders navigating Musk’s dual role as competitor and political insider. Altman’s comments were particularly calculated—praising Musk’s past contributions while establishing clear ethical boundaries for his future behavior. This public positioning serves multiple purposes: it sets expectations, creates accountability, and signals to regulators that the industry is self-monitoring.
What’s striking is the contrast between tech and political responses. AI executives expressed genuine concern about competitive fairness, while political figures like Clinton dismissed Musk’s influence as transactional. This gap suggests tech leaders understand something politicians may not: in AI, regulatory decisions and government relationships can be as valuable as technological breakthroughs. The acknowledgment of xAI as a “formidable competitor” by Pichai indicates the industry takes Musk’s AI ambitions seriously—and his political connections make those ambitions more concerning. This moment may define how political access intersects with AI competition for years to come.
Why This Matters
This story holds significant implications for the AI industry’s relationship with political power. With Musk leading xAI while simultaneously holding unprecedented political influence, the competitive landscape for artificial intelligence development faces potential disruption. The concerns raised by Sam Altman and Sundar Pichai reflect broader industry anxieties about fair competition in AI—a sector where regulatory decisions, government contracts, and policy frameworks can determine winners and losers.
The intersection of AI leadership and political access raises critical questions about governance, antitrust considerations, and the future of AI regulation. As xAI competes with OpenAI, Google, and other major players, Musk’s proximity to the incoming administration could influence everything from AI safety regulations to government AI procurement decisions. The tech leaders’ public statements appear designed to establish expectations of ethical behavior while signaling they’re watching closely for any anticompetitive actions.
For the broader AI ecosystem, this situation underscores how political relationships increasingly matter in an industry facing mounting calls for regulation and oversight. The responses from AI executives suggest the industry is preparing for a new era where political connections may rival technological innovation in determining market success.
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Source: https://www.businessinsider.com/what-clinton-altman-bezos-say-about-elon-musk-dealbook-2024-12