No shit.
Like all new technologies, there is a time when bunches of companies jump on the band wagon to get in on the action. You can see it all throughout the history of the industrial revolution.
They mostly know that there will come a great weeding out of those that can't handle the technology or just fail from poor management. But they are betting they will be among the 1% that wins the race and remain to dominate the market.
The rest will just bide their time until the next Big Thing comes along. And the process starts over again.
Historically, presidents take credit and the blame for things they didn't do. Economic policy is one example. They actual economic changes take time to really be felt on main street. Very often those changes occur just before they take office or after they leave.
And despite presidential elections being the SB and WS all tied into one competition, the real path to controlling the government is through the house and senate. But THOSE elections aren't as cool.