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Donald Trump has appointed David Sacks, a well-known venture capitalist and podcast host from Silicon Valley, to supervise the regulation of cryptocurrency and artificial intelligence. Sacks typically advocates for less strict government oversight of these new technologies.
Authored by Theodore Schleifer
For a number of years, Theodore Schleifer has been focusing on writing about David Sacks’ involvement in politics.
President-elect Donald J. Trump has appointed a well-known conservative investor, donor, and media figure from Silicon Valley to assist in managing American tech policy.
The president-elect announced on social media that David Sacks, a venture capitalist and former executive at PayPal who has a popular podcast, will be serving as the "White House A.I. and Crypto Czar." Sacks, who is friends with Elon Musk, has been urging Musk to become more involved in Republican politics in recent times.
A new position is being created in the Trump White House, indicating a shift towards a more relaxed approach to regulating technology and cryptocurrencies. This is especially notable given the significant increase in the value of cryptocurrencies since Trump’s election, in which he also has a personal business interest. The individual appointed to this role, Mr. Sacks, advocates for a more lenient policy towards both cryptocurrency and artificial intelligence, and currently leads a venture capital firm called Craft Ventures.
During the Trump transition process, Mr. Sacks emerged victorious in a dispute over how to handle artificial intelligence and crypto roles within the team. Instead of having separate individuals oversee each area, Mr. Sacks was selected to supervise both in a combined role.
"David has been chosen to lead the development of policies related to Artificial Intelligence and Cryptocurrency for the Administration, which are considered crucial for America’s future competitiveness," stated Mr. Trump during a Thursday evening announcement. "David will work towards ensuring that America becomes the top global leader in these two fields."
According to his firm, Mr. Sacks does not hold a full-time position. He mentioned to friends that he preferred not to have a formal role as it would mean giving up his role managing his venture capital fund. Recently, Mr. Sacks revealed that his firm has led a new round of funding for a start-up.
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