5d ago

Trump Team Eyes Politically Connected Startup to Overhaul $700 Billion Government Payments Program

www.propublica.org

A little-known firm with investors linked to JD Vance, Elon Musk and Trump could get a piece of the federal expense card system — and its hundreds of millions in fees. “This goes against all the normal contracting safeguards,” one expert said.

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InevitableSwing [none/use name] @hexbear.net

4d ago

Trump wants to give a crony startup the contract to overhaul a $700 billion government payments program.

www.propublica.org /article/trump-peter-thiel-ramp-gsa-smartpay-expense-payment-system

4 comments

Founded six years ago, Ramp is backed by some of the most powerful figures in Silicon Valley. One is Peter Thiel, the billionaire venture capitalist who was one of Trump’s earliest supporters in the tech world* and who *spent millions aiding Vice President JD Vance’s Ohio Senate run. Thiel’s firm, Founders Fund, has invested in seven separate rounds of funding for Ramp, according to data from PitchBook. Last year Thiel said there was “no one better positioned” to build products at the intersection of AI and finance.
There's the pay off.
- Obvious to anyone with a nose.