"His comments at a New York Times finance summit underscored the governor's balancing act with the tech industry, even as his relationship with its major businesses has been strained by Trump this year. Though he has excoriated law firms and universities for selling out to Trump administration demands this year even threatening to pull state funding from California universities that sign certain agreements with the president Newsom has walked a finer line when it comes to tech."
"I think it's a little bit more, I don't want to say the word transactional, but it's fiduciary, he said of tech leaders' decisions to curry favor with Trump . Newsom, who was San Francisco mayor in the 2000s, has long been close with tech leaders. As governor, he counts on the industry's outsized gains to keep a massive state budget balanced. As a possible 2028 presidential contender, he could find Silicon Valley's deep-pocketed donors helpful."
Gavin Newsom views many Silicon Valley leaders' support for President Trump as situational and fiduciary rather than ideological. He has criticized law firms and universities for cooperating with the Trump administration and even threatened to pull state funding from universities that sign certain agreements with the president. He has maintained closer deference to tech companies, balancing regulatory measures with concerns about overregulation that could harm innovation and the state budget. Newsom relies on tech's economic gains to help balance California's large budget and could benefit from tech donors if he pursues a future presidential run. He has signed some negotiated bills and vetoed others.
Read at www.mercurynews.com
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