Transition to President Trump
Transition of power
Transition of power
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President Trump has appointed David Sacks, a prominent venture capitalist and podcast host, to supervise the regulation of cryptocurrency and artificial intelligence. Sacks has advocated for less strict regulations on these advancing technologies.
Authored by Theodore Schleifer
For the past few years, Theodore Schleifer has been focusing on writing about David Sacks’ political involvements.
President-elect Donald J. Trump has appointed a well-known conservative investor, donor, and media figure from Silicon Valley to assist in managing technology policy in the United States.
The president-elect revealed on social media that David Sacks, a venture capitalist and former executive at PayPal, will be taking on the role of "White House A.I. and Crypto Czar." Sacks, who is known for launching a successful podcast, is a friend of Elon Musk and has been encouraging him to become more involved in Republican politics recently.
This new position at the Trump White House signals a shift towards less regulation of technology, especially cryptocurrencies. The appointee, Mr. Sacks, is a venture capitalist who supports a more relaxed approach to regulating both cryptocurrencies and artificial intelligence. This is in line with Mr. Trump’s personal business interests in the cryptocurrency market, which has seen a significant increase in value since his election.
Mr. Sacks successfully advocated for a decision during the Trump transition team discussions. Instead of having different individuals oversee artificial intelligence and crypto separately, Mr. Sacks was selected to manage both areas in a combined role.
"Mr. Trump announced that David will be in charge of shaping policies related to Artificial Intelligence and Cryptocurrency for the Administration. These are important areas for American competitiveness in the future. David’s main goal will be to ensure that America becomes the top global leader in both fields."
According to his firm, Mr. Sacks does not hold a full-time position. He has mentioned to friends that he did not want a formal role as it would mean stepping away from his responsibilities managing his venture capital fund, as reported by The New York Times. Recently, Mr. Sacks revealed that his firm led a new round of funding for a start-up.
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