Trump's close relationship with Silicon Valley is becoming a breakthrough for investigations after the Democrats regained control of Congress.
According to a report by The Washington Post on November 6, after winning a majority in both chambers of Congress, Democrats are quickly identifying investigation priorities. The House of Representatives has begun preparations to investigate Trump's military operation planning to kidnap Venezuelan President Maduro using the AI chatbot Grok owned by Musk; Apple and Meta are under scrutiny due to the ICE tracking app and local government data center agreements, respectively.
After the news broke, Meta's pre-market gain narrowed, Apple briefly dropped over 1%, while SpaceX's stock price remained strong.
The scope of the investigation may extend far beyond the three companies mentioned above. Reports state that Democrats plan to review the most controversial business activities of large American companies over the past two years, focusing on the relationships between businesses and the Trump administration. Since Trump's second term, tech billionaires and corporate executives have frequently attended White House events, donated to Trump's planned gala project, and given gifts; at the same time, several companies in which Trump family members and Wall Street executives invested also received billions of dollars in governmental support.
In the eyes of the Democrats, the commercial interactions between corporations and the government may become a crucial entry point for tracing related interests. A memo from the think tank Groundwork Collaborative lists large tech companies, private prison operators, and natural gas companies as "high-value" targets for investigation, citing the reasons including what these companies provided to Trump, what they received from the Trump administration, and what commercial activities they may have participated in.
Winter has arrived! Corporate executives urgently hire lawyers
Although the investigation has not yet officially begun, corporations are already preparing for congressional inquiries.
The Washington Post cited congressional staff, lobbyists, venture capitalists, and lawyers familiar with the preparations stating that several law firms in Washington are providing advice on how corporate founders and executives can respond to congressional investigations through emergency online meetings, gatherings, and other means. Several law firms are also vying to become Musk's personal legal advisor, believing that the investigations surrounding him could lead to a plethora of subpoenas and high-profile legal business.
Some venture capitalists have advised Silicon Valley startups to complete their funding by the end of the year to prevent executives from being required to attend congressional hearings or for the Pentagon's adjusted spending plans to affect the companies' funding sources.
Democratic lawmakers have also signaled a tough stance. Robert Garcia, who is about to become the chair of the House Oversight Committee, warned relevant companies on election night to "hire lawyers"; Senator Ed Markey stated that tech company executives will need to prepare a large volume of paperwork for the upcoming subpoenas from Congress.
Legal experts in Washington anticipate that Democratic control of both chambers will accelerate the pace and intensity of investigations. Jamie Bair, who heads the congressional investigation practice at Crowell & Moring law firm, stated that sending detailed inquiries to businesses may be more effective than sending letters to Trump administration departments, as companies are more likely to respond and disclose communications with government officials.
Apple, Meta, X, and Musk did not immediately respond to requests for comment from The Washington Post.
Robert Kelner, a lawyer at Covington & Burling, stated that the wave of investigations initiated by the Democrats is almost a foregone conclusion, and corporate clients are hiring lawyers and determining legal protection priorities. "We have always told clients that a winter is coming. Now, winter has arrived."
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