Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

Market Insanity

Economic War on Trump Begins

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The open-sourced war on Trump has already spread to Silicon Valley, the app market and the nation’s airports.

The New York City Taxi Workers Alliance; a cab drivers’ union, staged a boycott of JFK Airport to protest President Trump’s ban on Muslim refugees, on January 28. Most of the Alliance’s members are Muslims and they were not very happy with the Donald’s actions.

Uber found itself ensnarled in the mess when Alliance supporters started deleting its app from their phones. Activists targeted Uber because it was still hauling travelers to JFK, CNBC reported.

Delete Uber, even though it opposes Trump

“Don’t just #DeleteUber. Cancel your account and tell them it’s b/c @uber supports fascism. The link they hide:”

Alliance supporter David Berg tweeted.

Ironically enough some of those taking Uber to the airport were demonstrators planning to protest the ban. To add to confusion Uber CEO Travis Kalanick was one several Silicon Valley CEOs opposing Trump’s ban.

Uber did try to demonstrate its support for the protestors by suspending surge pricing on rides to JFK, CNBC reported. Not to be outdone Uber’s archrival, Lyft announced it was planning to donate $1 million to the American Civil Liberties Union to back litigation against the ban.

Airbnb Declares war on Trump

Uber and Lyft are not the only companies involved in the war on Trump. On January 29, 2017, Airbnb CEO Brian Chesky  tweeted his company will provide housing for refugees and others barred from the US by Trump’s refugee ban, CNBC reported.

“Airbnb is providing free housing to refugees and anyone not allowed in the US,” Chesky tweeted. “Stayed tuned for more, contact me if urgent need for housing.”

“Not allowing countries or refugees into America is not right, and we must stand with those who are affected,” Chesky wrote.

Idealism may not be the only factor motivating Lyft and CEOs like Chesky. They might be afraid of becoming the next target of anti-Trump protesters; like those who chained themselves to Uber headquarters’ front doors on January 21.

Hatred for Trump Runs Deep in Silicon Valley

Hatred for Trump runs deep in Silicon Valley. Uber Chief Technology Officer Thuan Pham wrote an email comparing Trump to Communist Chinese dictator Mao Zedong and Cambodian despot Pol Pot. Thuan vowed never to utter Trump’s name in the mail.

The message which branded Trump deplorable; and said his election was a step backward for America went viral inside Uber, Business Insider reported. Many Uber employees share Pham’s opinions and were angry that Kalanick had taken a position on a body that advises Trump.

Spreading the email and leaking it to the media is a means of driving a wedge between Trump and a supporter. It is also a great means of making life miserable for a very cautious Trump supporter. The anti-Trump movement is making an example of Kalanick and sending a message to everybody in Silicon Valley; get off Donald’s bandwagon and onto ours or else.

An Anti-Trump Strategy in Action

The predictions of an open sourced war on Trump that will ensnare the business community are coming true. Many Americans who would normally support the President will turn on him not out of conviction; but out of fear of being targeted by his enemies.

We are already seeing one of the anti-Trump forces’ most potent strategies in action. The strategy is a simple one, make life as miserable for Trump supporters as possible. Tactics used to accomplish this goal will be boycotts, protests, and social media campaigns. The goals of this strategy are obvious, they are: isolate Trump from support and force businesses into the opposition camp.

Since the strategy is effective it will be repeated again and again. Expect retailers, media outlets and tech companies to be among the biggest targets.

This is just starting and things are going to get far uglier real soon. Expect many of the business interests that have rallied to Trump to drop him like a hot potato. They will do so to keep out of the crossfire, not out of any conviction. The economic war on Donald Trump has begun and businesses will scramble to get off the battlefield.