5 Reasons Obama Is Good For The Tech Industry

Obama probably understands technology probably better than any of his predecessors at the White House and the fact that he appointed a Chief Technology Officer nearly one year ago showed that he meant business.

Although Kevin Malover subsequently left for richer pastures, he and others have made of Obama the first US President whose success can be directly attributed to the internet. We've gathered five reasons why Obama as President will be good, in the long run for the Tech Industry.

(1) He understands the Web 2.0

Obama and those working with him have a keen sense of what makes up the social fabric of Web 2.0. He brought onboard one of the co-founders of Facebook, Chris Hughes, who helped him master viral marketing and gain grass root support like no other president before.

One of the first things Hughes did was creating My.BarackObama.com, an online social networking site which attracted more than one million member and provided volunteers with the necessary tools to back their candidates. The number of friends he has on Facebook is even bigger, standing at nearly 2.477million.

(2) He understands the Web 2.0 (part 2)

In addition to the above, Obama has promised that he will be implementing so called plans for an "open government" which will give citizens a chance to participate even more in the daily affairs of their community and their country. Think of Wikipedia for politics. All the better for democracy and a fantastic way for the US to lead the world by making its decision making opened.

(3) He has pledged to keep the Internet opened and protect it

As he puts it on his official website, he "strongly supports the principle of network neutrality to preserve the benefits of open competition on the Internet." This will put a broad smile on the face of the likes of folks at Microsoft and Google who have been looking for government support to keep the web as opened as possible.

(4) Obama was the choice of the technology world (and Geeks)

Geeks in general have voted (and given money to) Obama. Jason Morrison found out two weeks ago that Geeks at five of the most famous tech US companies (Google, Apple, Yahoo, Microsoft and Amazon) overwhelmingly supported Obama. They bet on a candidate and he won, now they're expecting a good ROI.... Individual celebrity geeks like Tim Oreilly have also voiced support for the Democrat candidate.

(5) Obama will invest massively in technology

Obama has already said that he will build a brand new US Electronic Information Technology System for Health care at the cost of USD 50 billion over the next five years and an additional USD 150 billion over the next decade to create more climate-friendly, alternatives to traditional energy sources. Ditto for next-generation broadband deployment across the United States. Traditional telecom companies (the likes of AT&T and Verizon) have unsurprisingly supported John McCain.