Transition to the Trump
Transition of power
Transition of Power
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President Trump has appointed David Sacks, a prominent conservative figure in Silicon Valley, to supervise the regulation of cryptocurrencies and artificial intelligence. Sacks, a successful venture capitalist and podcast host, advocates for less strict regulations on these innovative technologies.
Written by Theodore Schleifer.
For the past few years, Theodore Schleifer has been reporting on David Sacks’ involvement in politics.
President-elect Donald J. Trump has selected a well-known conservative figure from Silicon Valley to assist in managing tech policy in the United States.
The president-elect announced on social media that David Sacks, a venture capitalist and former executive at PayPal who started a successful podcast, will serve as the "White House A.I. and Crypto Czar." Sacks is a good friend of Elon Musk and has been urging him to become more involved in Republican politics in recent years.
The creation of this new position indicates that the Trump administration plans to have a more relaxed approach towards regulating technology, especially cryptocurrencies. These digital assets have seen a significant increase in value since Trump’s election victory, and the President himself has a financial stake in them. The individual appointed to this role, Mr. Sacks, is the head of a venture capital firm named Craft Ventures and has advocated for a more lenient policy towards both cryptocurrencies and artificial intelligence.
Mr. Sacks successfully advocated for a decision in the Trump transition team. There were suggestions from some individuals for different people to be in charge of artificial intelligence and crypto within Mr. Trump’s team. However, Mr. Sacks was selected to oversee both areas in a single appointment.
On Thursday evening, Mr. Trump announced that David will be responsible for shaping the Administration’s policies on Artificial Intelligence and Cryptocurrency, which are both important for America’s future competitiveness. David’s main goal will be to ensure that America becomes the top global leader in these two areas.
According to his firm, Mr. Sacks does not hold a full-time position. He had mentioned to friends that he did not want a formal role that would take him away from overseeing his venture capital fund. Recently, Mr. Sacks announced a new round of start-up funding led by his firm.
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