Transition of power from
Transition of power
Transition of power
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President Trump appointed David Sacks, a prominent conservative figure in Silicon Valley and venture capitalist, to lead the oversight of cryptocurrency and artificial intelligence. Sacks has advocated for less strict regulations on these new technologies and also hosts a popular podcast.
Authored by Theodore Schleifer
For the past few years, Theodore Schleifer has been covering David Sacks’ political involvement.
President-elect Donald J. Trump has appointed a well-known conservative figure from Silicon Valley to assist in shaping American tech policy.
The president-elect revealed on social media that David Sacks, a venture capitalist and former executive at PayPal who also hosts a popular podcast, will serve as the "White House A.I. and Crypto Czar." Sacks, a friend of Elon Musk, has been urging Musk to become more involved in Republican politics over the past year.
The Trump administration plans to adopt a more lenient approach towards regulating technology, especially cryptocurrencies, which have increased in value since Trump’s election victory. The newly created position signifies this shift in policy direction. The appointee, Mr. Sacks, advocates for a more relaxed policy on both cryptocurrency and artificial intelligence.
Within the Trump transition team, Mr. Sacks emerged victorious in a debate over how to structure roles related to artificial intelligence and crypto. Instead of having separate individuals oversee these areas, Mr. Sacks was selected to oversee both in a joint appointment.
On Thursday evening, Mr. Trump announced that David will be leading the policy direction for Artificial Intelligence and Cryptocurrency in the Administration. He emphasized the importance of these areas for American competitiveness in the future and highlighted David’s role in working towards making America a global leader in both fields.
According to his firm, Mr. Sacks does not work full-time. He has shared with friends that he preferred not to have a formal role as it would mean having to step away from his current role managing his venture capital fund. Recently, Mr. Sacks revealed that his firm is leading a new round of funding for a start-up.
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