In his article for finews.first, Jacques-Aurélien Marcireau from Edmond de Rothschild AM considers it highly likely that a confrontation between JD Vance and Elon Musk will occur, with potentially significant repercussions for the stock market.
finews.first is a forum for authors to comment on economic and financial topics.
It's a story as America likes them, worthy of Hollywood cinema. After collapsing by more than 40 percent since the beginning of the year, Tesla stock has skyrocketed by over 140 percent. This is a magnitude never seen in such a short time for one of the largest listed companies in the world.
In addition to retail investors' unwavering adulation for Elon Musk's entrepreneurial genius, the rise also reflects the expected positive impact on the Tesla/Space X galaxy from the tech mogul's proximity to President-elect Donald Trump.
«The first clues are there»
Is this simple political opportunism, or the advent of the «technopolitical» merger between major technology groups and American authorities? – as foreseen by the political scientist Asma Mhalla or the founders of the venture capital fund Andreessen Horowitz. The first clues are there, but it may still be a little early to judge.
On the other hand, what seems certain is the upcoming confrontation between Elon Musk and Vice President-elect JD Vance. Indeed, the former advocates «big tech» and Technopolitical fusion and plays a perilous balancing act with «at the same time» vis-à-vis China.
«The game has only just begun»
The second is a fierce opponent of big tech, a supporter of decentralization, and cryptos, and wants a firm stance towards China. He has been supported by the venture capital universe, which is itself increasingly hostile to big tech, accused of stifling the innovation ecosystem given their disproportionate financial power. This balance of power is illustrated in the race for generative AI, where Silicon Valley is struggling to disrupt with a rapid – indirect – tutelage of the main unicorns of generative AI (Anthropic, OpenAI).
The stock market implications of this confrontation will be massive: the predominance of the ideas of one or the other can further anchor or, on the contrary, recede the dominance of the American technology giants and impact their role as a driver of the equity markets and the Nasdaq in particular. At the time of writing, Musk's vision is set to win, but the game has only just begun.
«Musk and Vance have forged a legitimacy to embody the post-Trump era»
More than the confrontation of ideas, it will also be the confrontation of ambitions: both have forged a legitimacy to embody the «post-Trump» era. To make their way to the top, they will have to make their mark during the Trump term, which is a sure recipe for a clash between the two men, under the leadership of the real estate mogul.
Here again, a story as America likes them, even if this time, it is the future of the country itself that is at stake.
Jacques-Aurélien Marcireau is Co-Head of Equities at Edmond de Rothschild Asset Management.
Previous contributions: Rudi Bogni, Peter Kurer, Rolf Banz, Dieter Ruloff, Werner Vogt, Walter Wittmann, Alfred Mettler, Robert Holzach, Craig Murray, David Zollinger, Arthur Bolliger, Beat Kappeler, Chris Rowe, Stefan Gerlach, Nuno Fernandes, Richard Egger, Maurice Pedergnana, Marco Bargel, Steve Hanke, Urs Schoettli, Ursula Finsterwald, Stefan Kreuzkamp, Oliver Bussmann, Michael Benz, Albert Steck, Martin Dahinden, Thomas Fedier, Alfred Mettler, Brigitte Strebel, Mirjam Staub-Bisang, Nicolas Roth, Thorsten Polleit, Kim Iskyan, Stephen Dover, Denise Kenyon-Rouvinez, Christian Dreyer, Kinan Khadam-Al-Jame, Robert Hemmi, Anton Affentranger, Yves Mirabaud, Katharina Bart, Frédéric Papp, Hans-Martin Kraus, Gerard Guerdat, Mario Bassi, Stephen Thariyan, Dan Steinbock, Rino Borini, Bert Flossbach, Michael Hasenstab, Guido Schilling, Werner E. Rutsch, Dorte Bech Vizard, Katharina Bart, Maya Bhandari, Jean Tirole, Hans Jakob Roth, Marco Martinelli, Thomas Sutter, Tom King, Werner Peyer, Thomas Kupfer, Peter Kurer, Arturo Bris, Frederic Papp, James Syme, Dennis Larsen, Bernd Kramer, Armin Jans, Nicolas Roth, Hans Ulrich Jost, Patrick Hunger, Fabrizio Quirighetti, Claire Shaw, Peter Fanconi, Alex Wolf, Dan Steinbock, Patrick Scheurle, Sandro Occhilupo, Will Ballard, Nicholas Yeo, Claude-Alain Margelisch, Jean-François Hirschel, Jens Pongratz, Samuel Gerber, Philipp Weckherlin, Anne Richards, Antoni Trenchev, Benoit Barbereau, Pascal R. Bersier, Shaul Lifshitz, Klaus Breiner, Ana Botín, Martin Gilbert, Jesper Koll, Ingo Rauser, Carlo Capaul, Markus Winkler, Thomas Steinemann, Christina Boeck, Guillaume Compeyron, Miro Zivkovic, Alexander F. Wagner, Eric Heymann, Christoph Sax, Felix Brem, Jochen Moebert, Jacques-Aurélien Marcireau, Ursula Finsterwald, Michel Longhini, Stefan Blum, Zsolt Kohalmi, Nicolas Ramelet, Søren Bjønness, Gilles Prince, Salman Ahmed, Peter van der Welle, Ken Orchard, Christian Gast, Jeffrey Bohn, Juergen Braunstein, Jeff Voegeli, Fiona Frick, Stefan Schneider, Matthias Hunn, Andreas Vetsch, Fabiana Fedeli, Kim Fournais, Carole Millet, Swetha Ramachandran, Thomas Stucki, Neil Shearing, Tom Naratil, Oliver Berger, Robert Sharps, Tobias Mueller, Florian Wicki, Jean Keller, Niels Lan Doky, Johnny El Hachem, Judith Basad, Katharina Bart, Thorsten Polleit, Peter Schmid, Karam Hinduja, Zsolt Kohalmi, Raphaël Surber, Santosh Brivio, Mark Urquhart, Olivier Kessler, Bruno Capone, Peter Hody, Michael Bornhaeusser, Agnieszka Walorska, Thomas Mueller, Ebrahim Attarzadeh, Marcel Hostettler, Hui Zhang, Michael Bornhaeusser, Reto Jauch, Angela Agostini, Guy de Blonay, Tatjana Greil Castro, Jean-Baptiste Berthon, Marc Saint John Webb, Dietrich Goenemeyer, Mobeen Tahir, Didier Saint-Georges, Serge Tabachnik, Vega Ibanez, David Folkerts-Landau, Michael Welti, Fabrizio Pagani, Roman Balzan, Todd Saligman, Stuart Dunbar, Carina Schaurte, Birte Orth-Freese, Gun Woo, Lamara von Albertini, Ramon Vogt, Andrea Hoffmann, Niccolò Garzelli, Darren Williams, Benjamin Böhner, Mike Judith, Jared Cook, Henk Grootveld, Roman Gaus, Nicolas Faller, Anna Stünzi, Thomas Höhne-Sparborth, Fabrizio Pagani, Guy de Blonay, Jan Boudewijns, Sean Hagerty, Alina Donets, Sébastien Galy, Roman von Ah, Fernando Fernández, Georg von Wyss, Stefan Bannwart, Andreas Britt, Frédéric Leroux, Nick Platjouw, Rolando Grandi, Philipp Kaupke, Gérard Piasko, Brad Slingerlend, Dieter Wermuth, Grégoire Bordier, Thomas Signer, Gianluca Gerosa, Christine Houston, Manuel Romera Robles, Fabian Käslin, Claudia Kraaz, Marco Huwiler, Lukas Zihlmann, Sherif Mamdouh, Harald Preissler, Taimur Hyat, Philipp Cottier, Andreas Herrmann, Camille Vial, Marcus Hüttinger, Serge Beck, Alannah Beer, Stéphane Monier, Ashley Simmons, Lars Jaeger, Shanna Strauss-Frank, Bertrand Binggeli, Marionna Wegenstein, George Muzinich, Jian Shi Cortesi, Razan Nasser, Nicolas Forest, Joerg Ruetschi, Reto Jauch, Bernardo Brunschwiler, Charles-Henry Monchau, Ha Duong, Teodoro Cocca, Jan Brzezek, Nicolas Mousset, Beat Weiss, Pascal Mischler, Andrew Isbester, Konrad Hummler, Jan Beckers, Martin Velten, Katharine Neiss, Claude Baumann, Daniel Roarty, Kubilay Yalcin, Robert Almeida, Karin M. Klossek, Marc Taverner, Charlie T. Munger, Daniel Kobler, Patrick Stauber, Anna Rosenber, Judith Wallenstein, Adriano Lucatelli, Daniel Goleman, Val Olson, Brice Prunas, Francesco Magistra, Frances Weir, Luis Maldonado, Francesco Magistra, Nadège Lesueur-Pène, Massimo Pedrazzini, Eric Sarasin, David Ellis, Dina Ting, Christopher Gannatti, Shaniel Ramjee, Mihkel Vitsur, Nannette Hechler-Fayd’herbe, Ralph Ebert, Chris Cottorone, Francesco Mandalà, Mariolina Esposito, Maryann Umoren Selfe, Dominique Gerster, Marc Arand, Christian Kälin, Nadège Dufossé, Benjamin Melman, Florin Baeriswyl, Marc Reinhardt, Thomas Holderegger, Beat Wittmann, Bruno Cavalier, Louise Curran, Adrian Cox, Philip Adler, Serge Fehr, Marc Lussy, Axel Brosey, Colin Vidal, Vivien Jain, Ralf Zellweger, Maria Vassalou, Nico Fiore, Gary Burnison, Thomas Signer, Brigitte Kaps, and Andreas Ita.
