Happy Monday, Assets Tech editor Alexei Oreskovic here today, prise hitting for Leo. When the Americans celebrated a long weekend on Independence Day, they were treated in the always fascinating relationship between Silicon Valley and Washington, DC, some remarkable exhibitions of festivals and fireworks in the always fascinating relationship between Silicon Valley and Washington.
On the festive side, Venture investors And Startup founders cheered a provision in the Trump tax and expenditure calculation, which expand the tax exemptions of the capital income for share sales for certain small companies. The changes to the qualified stock program for small businesses mean that owners and investors in a domestic C company with a fortune of up to 75 million US dollars (according to the previous threshold of $ 50 million) are given more opportunities to use the advantage. A wealth planning consultant said CNBC that an investor now “brought 74.9 million US dollars into a small company and have released up to 749 million US dollars from capital gains if it is sold more than ten times the original basis”.
“We will see a lot more founders / early employees who sell secondarily, but hopefully we see a lot more people who want to join startups!” tweeted Menlo Ventures’ Deedy Das.
An entrepreneur who is not impressed: Elon Musk, who explained at the weekend that he is Start of the America partyA new political party that is fighting “against the Republican/Democrat -Uniparty after the adoption of the law”. “What the hell was the meaning of @doge if he only increases the debts by 5 trillion US dollars?” Musk tweeted on Sunday.
As expected, Trump reacted with vitriol and called Muschus a “train accident” that “went from the rails”.
It is unclear whether Musk has taken concrete steps to certify the America party (from Saturday evening no documents were submitted, according to which no documents were submitted New York Times). But the real question is what kind of concrete retaliation Trump could try in his former political ally and campaign donor. Trump has it before threatened To reduce the federal contracts and subsidies for the various companies of Musk, including Spaceex And Tesla (Teslas often persists the heights and depths of Musk’s political assets) and may even have thought about possibly about Have deported the musk.
In short, this oversized Donnybrook doesn’t seem to calm down so quickly.
Another thing. Speaking of Trump and Silicon Valley, it is no secret that the president wants Apple Make iPhones on American soil. I can only recommend that Piece by my colleague Verne Kopytoffwho looked at what the last time happened when a large tech company (Google) tried to build smartphones in the USA
Back to the regular term sheet programming with Allie Morgen,
Alexei Oreskovic
X: @Lexnfx
E-mail: Alexei.oreskovic@fortune.com
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Allie Garfinkle curated the deal area of today’s newsletter.
Venture deals
– – Nordic air defenseA defense tech startup based in Stockholm has collected strategic funds of $ 3 million. Flexion led the round.
Outputs
– – These investments agreed to acquire a majority stake Authorization of the learning groupA school service provider based in Great Britain, from Graphite capital. Financial conditions have not been announced.
Other
– – Denso acquired Netherlands Axia vegetable seedsDevelopers of a variety of powerful tomato seeds, which are known for their high disease resistance, a good taste, the quality and their high yield. Investors include Smaller Perkins, Themesk, And WP Global Partners.
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