He later said, drawing laughter, “We have approximately $3.5 trillion of market value in this room — but that’s almost the exact number that we’ve created since my election.”
Few technology specialists from the White House attended. The administration has not filled several major science and technology positions. But the business and economics team closest to the president attended, including Gary D. Cohn, director of the National Economic Council, and Dina Powell, senior counselor for economic initiatives.
The event was organized by Jared Kushner, special adviser to the president and Mr. Trump’s son-in-law, and Chris Liddell, the White House director of strategic initiatives and former chief financial officer of Microsoft. Mr. Kushner’s Office of American Innovation brought together the executives for 10 workshops on topics such as cybersecurity, analytics and using technology to better connect people to government services.
Mr. Kushner opened the event in the White House Indian Peace Treaty room by emphasizing the potential of the companies to improve the government’s outdated and inefficient technology systems.
“Together we will unleash the creativity of the private sector to provide citizen services in a way that has never happened before,” he said.
The opportunity for Silicon Valley is enormous. The federal government spends $80 billion a year on information technology, much of it used to maintain outdated technology such as data systems that are decades old and storage that includes floppy disks used at the Defense Department. Federal agencies maintain 6,100 data centers that could be consolidated and moved to the cloud.
The meeting occurred as tech company stocks roared back after declining in the last two weeks, pushing the stock market to records on Monday. Apple and Alphabet, the parent of Google, were among the top gainers after three consecutive sessions of declines.
The tech industry has…