Musk and Donald Trump propose a ‘Department of Government Efficiency’, crypto wins big in the election and a modern equivalent of Lysistrata takes hold on TikTok

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Hello, and welcome to TechScape. I’m Blake Montgomery, US tech editor at the Guardian. In this week’s newsletter: Elon Musk and Donald Trump want to create a “Department of Government Efficiency”, crypto wins big across the board, and a modern equivalent of Lysistrata takes hold on TikTok. Thank you for joining me.

Trump, president-elect of the US, said he wants to appoint Musk, the world’s richest man, as the country’s “secretary of cost-cutting” to reduce bureaucracy in the federal government by an order of $2tn, roughly a third. Trump announced in September that he would create a “Department of Government Efficiency”. Musk had pushed for the idea and has since relentlessly promoted it, emphasizing the acronym for the agency: Doge, a reference to a meme of an expressive Shiba Inu. Trump said the agency will be conducting a “complete financial and performance audit of the entire federal government, and making recommendations for drastic reforms”.

The billionaire does not seem to be under illusions of what will happen after his proposed cuts.