The case in summary: Donald Trump’s new government project, ‘Department of Government Efficiency’ (Doge), will be led by Elon Musk, and aims to reduce waste in the bureaucracy. The name ‘Doge’ shares its name with the cryptocurrency Dogecoin, which both Trump and Musk have promoted several times. Crypto founder Torbjørn Bull Jensen believes that the choice of name may be a deliberate strategy to distract people and the media with humour, and give the government greater freedom of action. Dogecoin was originally created as a joke in 2013, but has now become part of the United States’ new government. Investment director at Nordea, Robert Næss, believes Trump’s embrace of crypto is a deliberate plan to garner votes, especially among young men. The new government project balances between humor and extreme seriousness, which can make it difficult for outsiders to understand, according to Bull Jenssen. The summary is made by an AI service from OpenAI. The content is quality assured by news’s journalists before publication. It started as an internet joke. Now it has found its way to the top of American politics. In Donald Trump’s incoming government, Elon Musk will work to reduce waste in the bureaucracy. And the name of the new government office that the world’s richest man will lead is called “Department of Government Efficiency” (Doge). That is causing a stir among crypto enthusiasts around the world. “Doge” shares a name with the cryptocurrency that both Trump and Musk have promoted several times. Despite its origins as a joke, Dogecoin has developed into a significant cryptocurrency with a loyal user base. Illustration: DADO RUVIC / Reuters The “Crypto President” Dogecoin was originally created as a joke in December 2013 by Billy Markus and Jackson Palmer. They wanted to create a fun and easy version of Bitcoin. Thus, they chose to use the “Doge” meme with a Shiba Inu dog as a logo. Crypto founder and general manager of K33, Torbjørn Bull Jensen, describes Dogecoin more as a work of art and a symbolic object, than a serious cryptocurrency. – What is a bit special here is to see how this internet culture, which started on small, slightly odd forums, has now taken the journey not only to be embraced by some of the world’s richest and most powerful, but also into the state apparatus. Elon Musk has expressed great enthusiasm for his new role in the Trump administration. On X, he writes that all the work they will do will be posted online, for maximum transparency. Photo: RYAN COLLERD / AFP With Donald Trump and Elon Musk at the helm, Dogecoin has gone from being a “meme coin” to becoming part of the new US government. – Elon has promoted Doge for a long time, says Bull Jenssen. Donald Trump, for his part, has called himself “crypto president”. Thinks Trump is trolling The fact that the new government office and the cryptocurrency share a name can be a completely deliberate strategy, says Bull Jensen. The aim is to distract people and the media with humour, in order to give the government greater freedom of action, he believes. – It creates noise around what is actually happening, says Bull Jensen and continues: – Much of the strategy is to distract dissenters with humor and make them attack the humour. This is a variant of trolling, says Bull Jenssen. – Will now “brosa” Nordea’s Investment Director, Robert Næss, believes Trump’s embrace of crypto is a deliberate plan to garner votes. – You have seen who trades bitcoin. Men are by far the largest group, and young men are again by far the largest group among men. Crypto entrepreneur Torbjørn Bull Jenssen agrees. – He now wants to “brosa”, he says. Trump’s embrace of crypto says something about the times we live in, believes the crypto entrepreneur. – It shows that what a few years ago were young people online are starting to become powerful people in society. And according to Jenssen, it is exactly this group that Trump and Musk are wooing with the new government office, which in Norwegian roughly becomes the Ministry of Public Efficiency. Torbjørn Bull Ness says the crypto sector has become a large industry with significant financial muscle. Photo: Petter Larsson / news – Sounds like insider trading Norwegian “bros”, however, are not completely sold on Trump’s new project. – It sounds like insider trading. I don’t know how it’s going to go, me. That’s what Johannes Fjelldalen Halvorsen (20) says to news at Karl Johan in Oslo. Mate Marius Bakken Håkonsen (20) nods along. – Most people may think that it is a good idea to buy crypto now. But I don’t know what interests he has in supporting this brand, he says. – It sounds like insider trading, says Johannes Fjelldalen Halvorsen (20). Here together with Marius Bakken Håkonsen (20) and Birk Ove K. Lundstein (20). Photo: Håkon Benjaminsen / news Longer away on Karl Johan, news interrupts the Christmas shopping of British Kieron Cain (18) and John Cain (27) with the same question. – Donald Trump promotes crypto to reach young men. You are young men – does it work? – I don’t particularly care about what he says about crypto, but other things may appeal to young men, says Kieron. – Like being anti-woke. Donald Trump is a very masculine character. It probably affected men more than crypto, John believes. – When it comes to a memecoin like Dogecoin, I think it’s quite scary, adds Kieron. – It goes up and down. Many people can lose money, especially on memecoins, he says. Quite scary, think the British brothers Kieron Cain (18) and John Cain (27). Photo: Håkon Benjaminsen / news Will reduce bureaucracy The aim of the new ministry is to make the American government more efficient. It is not necessarily negative, emphasizes US expert Eirik Løkke. – But you cannot simply manage public services the way you manage a private company. In addition, Musk personally has many personal interests which mean that the danger of corruption is present, says Løkke. Despite its name, Doge is neither a government department nor a public agency. It is more of a kind of commission, according to the AP news agency. Donald Trump says he wants Elon Musk, in collaboration with Vivek Ramaswamy, to lead the work on streamlining the bureaucracy. Photo: CHIP SOMODEVILLA / AFP Torbjørn Bull Jenssen believes that Elon Musk can now try to change how the bureaucracy in the USA works. The new government project balances between humor and extreme seriousness. – Which makes it difficult for outsiders to understand, says Jenssen. Published 15.11.2024, at 16.39
ttn-69
Elon Musk and Trump’s new strategy – news Norway – Overview of news from different parts of the country
