Australia’s tech insiders are enjoying a surge in optimism from the Fed’s bumper rate cut, but all eyes are now on the US election.
The clashing visions of US presidential candidates Donald Trump and Kamala Harris on tax, immigration, crypto, AI and manufacturing will have profound impacts on Australia’s technology sector, local executives say, amid a surge in optimism from
However, some of her policies have Australian entrepreneurs worried. They say a Trump or Harris victory are both likely to have vast – although dramatically different – implications for the global technology sector, and more specifically for many of Australia’s fastest-growing companies.warns that the Democratic candidate’s plan to introduce a tax on unrealised capital gains could act as a handbrake on investment in technology and venture capital.
“It is a handbrake on investment in innovation and moonshots that could transform the American economy, such as AI, robotics and deep tech. Australia would do well not to follow their lead.”Another Australian start-up founder closely monitoring the US election is Ben Buckingham, founder of Primary, a Sydney-based fintech that helps small businesses and scale-ups optimise the yield they make on idle cash, including funds raised from venture capital investors.
“A high interest rate environment makes investments in risky asset classes with long-time horizons less appealing.” He says that while the outcome will influence the local sector, with both candidates offering opportunities and challenges for Australian start-ups, it won’t have as significant an impact as Australia’s elections and political environment.
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