Bill Gates backs Elon Musk's Dogecoin vision, fiscal strategy
What's the story
Former Microsoft CEO and famous philanthropist Bill Gates has publicly endorsed Tesla CEO Elon Musk's fiscal strategy and his support for Dogecoin.
In a recent conversation with The Wall Street Journal, Gates said he was surprised that Musk was talking about European politics but praised his support for the cryptocurrency.
"I'm surprised Elon talks about EU politics, but Doge is a good idea," he said.
Fiscal strategy endorsement
Support for Musk's zero-based budgeting approach
Gates also expressed his support for Musk's fiscal strategy, particularly his plan to adopt a zero-based budgeting approach.
He thinks this could be useful in re-evaluating government budgets from the ground up, which could result in more efficient spending.
"I think the idea that looking at government expenditures on a sort of zero-based budgeting approach could be a valuable thing," Gates suggested.
Deficit concerns
Gates calls for action on US national deficit
Addressing the current US national deficit, Gates stressed the need for immediate action to avert future financial issues.
"I'm amongst the people who think the deficit needs to be brought down because otherwise it will create a financial problem for us," he warned.
This statement further underscores his concern about the country's economic stability and echoes Musk's call for fiscal responsibility.
Political engagement
Musk's involvement in European politics
Gates was surprised by Musk's active involvement in European politics, especially his constant commentary on policies concerning energy, technology, and regulation.
"I'm not trying to talk about European politicians like he is, so some of that surprises me a bit," Gates said.
Despite the surprise, he still admires Musk's ability to juggle multiple projects at once and his commitment toward solving complex global issues.
Cryptocurrency endorsement
Gates endorses Musk's support for Dogecoin
In a major departure from his earlier doubts over digital currencies, Gates endorsed Dogecoin, a cryptocurrency Musk has been promoting for years.
The endorsement also marks a change in Gates's stance on cryptocurrencies, which he has previously criticized due to their environmental impact and potential use in illegal transactions throughout the world.