Former usa Treasury Secretary Larry Summers has long been a Democrat and served as a senior advisor to Clinton and Obama. He remains cautiously optimistic that elected President Trump and his donor and advisor Elon Musk can make positive contributions to the usa economy.

When asked what advice he would give to the incoming president, Summers stated that the government's slogan should focus on removing barriers to innovation.

Summers said on Thursday at the FinRegLab ai seminar held in Washington, D.C.: "We need to be capable of manufacturing in the usa."

He believes that there are too many barriers to building datacenters, energy production facilities, and electrical utilities systems to support the ai revolution and the development of new green technologies.

He stated, "These may be complex and risky technologies, and the government needs to establish close ties with true experts in the industry who closely monitor and track technological advancements through moral rather than legal means."

Summers believes that a key risk facing the usa economy is the failure of the government and other institutions to "evolve" by supporting innovative technologies such as ai.

He also believes that Tesla CEO Musk, who is also the owner of the social media platform X, can choose to have a positive impact on the new government.

Summers is watching the process of Trump forming the cabinet and planning a new direction for the usa with great interest and considerable caution.

Is it a good thing that Musk is almost always by Trump's side? Summers said it's a "difficult question to answer simply."

He also added that Musk's impact on the usa's capability to explore outer space is an "amazing thing," positively affecting both the economy and national security.

Sommers said, "Do Musk's every political and cultural attitude align with my concept of national interests? Not quite."

He added: "The government must find a delicate balance between drawing on the wisdom, experience, and efficiency of the private sector and not being bought out by the private sector."