The government took stakes in a number of private companies during 2025, and it’s likely to continue making equity investments while Donald Trump remains in office. Whether or not this is a wise long-term strategy is an ongoing debate, with strong opinions on both sides. 

The practice represents a new industrial policy that’s meant to tie the executive branch of government closer to companies it considers essential to national security and economic prowess. The Trump administration hopes it’s a more robust approach than subsidy grants in rebuilding critical supply chains domestically, reducing reliance on China, and ensuring key industries remain under U.S. control. 

But it also puts the government in the venture capital........

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