- Bay Area Times
- Posts
- Elon says he formed centrist America Party
Elon says he formed centrist America Party
Bay Area Times
July 07, 2025
Brought to you by:
Top stories today:
- Elon says he formed centrist America Party
- TikTok said to be building new version of app for U.S. users
- Trump’s “Beautiful Bill” raises QSBS tax-free gains for founders, VCs
- Ilya Sutskever becomes Safe Superintelligence CEO
- Mysterious whale moves $8B+ in historic Bitcoin transfer
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Elon says he formed centrist America Party
“[L]aser-focus on just 2 or 3 Senate seats and 8 to 10 House districts,” Elon Musk said on X.
TBD: details on the new party.
The decision came a day after Trump signed his tax-cut and spending bill.
Pro-AI and pro-growth define the America Party wishlist proposed by tech investor Tyler Palmer.
“Saddened to watch Musk go completely ‘off the rails,’ essentially becoming a TRAIN WRACK,” Trump said on Truth Social.
A 3rd political party has never succeeded in the U.S. and is good for only creating “Complete and Total DISRUPTION & CHAOS,” Trump said.
Tesla stock was -6% in pre-market trading on Mon.
Attend Sportradar Connect: Basketball Edition on July 9 at the new Intuit Dome to explore groundbreaking sports tech with leaders from Amazon, Google, FanDuel, the NBA, and more.
Hear from top executives in key panels on fan monetization, AI-powered experiences, and marketing innovation—including a fireside chat with leaders from Sportradar and the LA Clippers.
Network with industry peers and enjoy exclusive experiences, including a tour of the Intuit Dome and a private post-event reception at Cosm.
3. TikTok said to be building new version of app for U.S. users ahead of sale
Representational image generated using ChatGPT.
Sep. 5: the new app, codenamed M2, is reportedly set to debut on the U.S. app stores.
Mar. 2026: the existing TikTok app will be shut down in the U.S.
Data-security concerns could be addressed by the new app.
Fri.: Trump suggested that the U.S. was close to a deal for a group to buy TikTok’s U.S. operations.
Trump admin would start talking to Chinese authorities on the deal this week.
Relatedly, Apple and Google were told to ignore TikTok ban, citing Trump’s constitutional powers, newly disclosed letters show.
4. Trump’s “Beautiful Bill” raises QSBS tax-free gains to $15M for founders, VCs
