Elon Musk and Donald Trump Talk U.S. Economy, Avoid Crypto Discussion

In a widely anticipated interview on Monday, Elon Musk and Donald Trump engaged in an in-depth discussion on pressing issues like inflation, trade, and education, leaving the cryptocurrency community surprised as they skipped over Bitcoin and other digital currencies. Despite high hopes from crypto enthusiasts, the conversation largely focused on the state of the U.S. economy and other traditional topics.

Elon Musk’s X Platform Hit by DDoS Attack Ahead of Interview

The interview, hosted on Elon Musk’s X platform, faced a significant disruption due to a DDoS (Distributed Denial of Service) attack, delaying the start of the event. Musk’s platform, which had undergone extensive stress testing prior to the interview, was overwhelmed as it recorded a staggering 8 million concurrent listeners.

source: x

Despite the technical hiccup, the interview resumed, allowing Musk and Trump to delve into key economic issues, ignoring the growing tension between Musk and the European Union over misinformation regulations.

Inflation and the U.S. Economy Take Center Stage

Throughout the interview, Trump voiced strong criticism of the Biden administration, particularly on the issue of inflation. He lamented that “people have been absolutely decimated” by rising prices and emphasized the urgent need to bring them down.

Musk echoed these concerns, suggesting the creation of a “government efficiency commission” to address inefficiencies within the federal government. He expressed his willingness to play an active role in such an initiative, signaling a potential interest in collaborating more closely with Trump in the future.

Musk Criticizes Bureaucracy, Trump Promotes ‘Right to Try’ Law

The discussion also touched on issues within the Food and Drug Administration (FDA) and the Department of Education. Musk criticized the lengthy drug approval process, describing it as overly bureaucratic. Trump, who has been an advocate for the “right to try” law, which allows patients to use unapproved treatments, supported Musk’s concerns. The two leaders shared their frustrations with the current regulatory environment, suggesting that significant reforms are needed to improve efficiency.

Musk Eyes Role in Potential Trump Administration

Perhaps the most intriguing aspect of the conversation was Musk’s proposal for a “government efficiency commission,” a move that hints at his desire to play a more significant role in a potential Trump administration. “I’d be happy to help out on such a commission — I’d love if it were formed,” Musk said, with Trump showing openness to the idea. This marks a notable shift in Musk’s political alignment, especially considering his rocky past with the Biden administration.

Musk’s growing influence in policy discussions, particularly around electric vehicles and cryptocurrency, has been evident throughout 2024, as he navigates the complex landscape of regulatory battles, especially those involving the Securities and Exchange Commission (SEC) and leading crypto firms like Coinbase.

Also Read: Potential Crypto Market Surge if Trump Wins the 2024 US Election