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Fortune
Fortune
Leo Schwartz

With Trump 2.0, the balance of power shifts from banks to Silicon Valley

(Credit: Michael M. Santiago—Getty Images)

Later today, President Donald Trump will be sworn back into office, the culmination of a comeback that seemed impossible just a few short years ago. Almost as improbable is the inner circle Trump has cultivated in his second tour of office: a coterie of Silicon Valley powerbrokers that seem ready to upend the longstanding balance of power in Washington, D.C.

Firebrand iconoclasts like Steve Bannon may have served as the face of Trump’s first term (or at least his ascent into office), but he still surrounded himself with members of the old guard. Figures like Gary Cohn and Steve Mnuchin kept the longstanding and bipartisan tradition of “Government Sachs”—top government officials coming from the venerated world of investment banking—alive. 

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