The Game Between Tech Newcomers and Traditional Forces: The Clash of Old and New in American Politics

After Trump's return to politics, the relationship between the cryptocurrency and Web3 sectors and real-world politics has entered a new phase. In addition to the apparent personnel appointments involving key positions such as the U.S. Secretary of the Treasury and the SEC Chair, the influence of some key behind-the-scenes figures, including Peter Thiel, cannot be ignored.

Peter Thiel is not only a well-known entrepreneur and investor, but also a low-profile yet highly influential political participant. If a certain famous tech entrepreneur is the leading figure in this political upheaval, then Peter Thiel is more like the strategist behind the scenes, whose influence may profoundly affect the discourse and decision-making involvement of tech capital in the U.S. and even the global political arena in the coming years.

The relationship between Peter Thiel and J.D. Vance is a typical case. In 2011, Thiel criticized society's blind following of traditional career paths during a speech at Yale Law School, emphasizing that technological innovation should address real problems. This statement deeply influenced the student J.D. Vance, who was present at the time, prompting him to rethink his career planning.

Under Thiel's influence, Vance gave up his traditional legal career and joined Thiel's venture capital firm, starting to venture into the field of venture capital. During this time, Vance wrote a memoir titled "Hillbilly Elegy," describing his upbringing in a working-class family. The book quickly became a bestseller after its publication and is considered to reveal the mindset of some political supporters.

Interestingly, as a current vice-presidential candidate, Vance's writings garnered widespread attention at the time, allowing him to emerge in the political arena, but he initially held a critical attitude towards a certain candidate. With Thiel's introduction, Vance gradually established a connection with him. Thiel not only arranged meetings between the two but also provided significant support for Vance's political career, including donating substantial funds to political action committees supporting Vance.

With Thiel's support, Vance was successfully elected as a senator from Ohio in 2022 and was selected as a vice presidential running mate in 2024. This reflects Thiel's key role in shaping Vance's political career and showcases the influence of some conservative forces from Silicon Valley in American politics.

This is not only a story of personal power struggles but also a structural shock and interest game within the entire capitalist system. This year's U.S. presidential election seems more like the prologue to a power reshuffle within capitalism. The "new capital" represented by the Silicon Valley tech elites is challenging the "old capital" represented by Wall Street, vying for greater discourse power and distribution of interests.

The rise of the new elites in Silicon Valley is no coincidence. Over the past decade, emerging fields represented by AI and cryptocurrency have become the engines of economic growth. These emerging industries emphasize efficiency, innovation, and decentralization, with a common call for "less regulation." From Web3 to AI, "decentralization" and "liberalization" have become their core narratives, and this vision is simple yet appealing: higher technological efficiency, more capital flow, and possibly a redefinition of the rules of wealth creation.

However, this path of liberalization and deregulation is bound to further strengthen the dominant position of tech giants and capital giants. Technologies such as AI and cryptocurrency will concentrate wealth more efficiently, accelerating the widening gap between the rich and the poor, while also marginalizing the interests of traditional industrial workers and other groups. This inherent contradiction may become a deep-seated driving force behind the fragmentation of American society in the future.

From a longer-term perspective, whether the American political and economic system can find a balance between "new capital" and "old capital" in the coming years, or even over a longer period, will directly determine the final direction of this power reshuffle. For "old capital," they need to adapt more flexibly to the social changes brought about by new technologies, while also defending their core position in rule-making. For "new capital," they need to persuade a broader society to accept the costs of wealth redistribution brought about by technological expansion.

The outcome of this struggle is not only related to the political and economic landscape of the United States but will also profoundly impact the future trajectory of global capitalism. This may also be a microcosm of the transformation of global capitalism. In short, a new era that is more globalized and technology-driven is approaching, and the key lies in how to redefine the distribution patterns of power, resources, and rules.

Cryptocurrency and AI will undoubtedly be the main battleground. The entire crypto space symbolizes so-called decentralized finance and capital liberalization, and it is also a key tool for technology capital to strike back against traditional finance and reshape the rules.

The future is full of opportunities, whether in AI, cryptocurrency, or other emerging fields, their core narratives remain appealing: freedom, efficiency, innovation. This process will also test whether all parties can find a compromise amid conflicting interests.

From the current political changes to the behind-the-scenes arrangements, what we see is not just an election, but a struggle for the future rules. This is destined to be a profound contest over resources, power, and rules.