Here's how tech experts believe Trump administration may benefit Silicon Valley

SAN JOSE, Calif. (KGO) -- It's no secret that President-elect Donald Trump has been outspoken against California and the Bay Area in particular.

But, experts say a new Trump administration may offer benefits for Silicon Valley and the future of tech.

If the Bay Area was its own country, it would be the 17th largest economy in the world.

And as the home of talent, innovation and technology, Silicon Valley would be the driving economic force.

Bay Area Council President and CEO Jim Wunderman says people are hopeful that its role could become even greater with a Trump presidency.

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"I think a lot of folks in Silicon Valley are really hopeful that this will be a new day for them," Wunderman said. "We need to help technology all we can."

Chris Farmer is the CEO of SignalFire, a venture capital and technology firm based in San Francisco.

He says right now, antitrust laws, higher taxes and over-regulation are stifling innovation--especially in the still growing field of AI.

Last year, President Joe Biden signed an executive order that placed guardrails around AI development.

While not providing details, Trump has promised to dismantle that framework on day one.

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And Farmer believes a Trump administration could help clear regulatory hurdles with startups particularly benefitting from Trump's potential policies.

"With clarification of regulation and what can and can't be done with AI, with open source models, all those types of things," Farmer said. "That helps the whole ecosystem know where it's okay to play ball and where it's not."

Lower regulatory burdens for companies could also allow more of them to go public easier, unlocking another potential benefit for the economy.

"It allows companies to get access to the public markets from a capital standpoint to fuel this growth, but it also allows the public to participate in a way that is critically important," Farmer said.

Silicon Valley has been a longtime leader, but Wunderman says growth and a lot of national investment, like the Chips Act, has slowed in California.

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It's harder to build and expand, so companies leave.

Wunderman and Farmer hope Trump can see the value that the region can bring the nation and that the feeling is reciprocated.

"I think we have to figure out ways to work with his administration best we can," Wunderman said. "It won't always be what we hoped it to be, but in a lot of ways, it might turn out to be very positive."

These experts say there is still a lot of speculation at this point, but they hope this is a benefit for Silicon Valley and the country.