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Trump has appointed David Sacks, a prominent venture capitalist and podcast host from Silicon Valley, to supervise the regulation of cryptocurrency and artificial intelligence. Sacks has advocated for less strict regulation of these new technologies.
Written by Theodore Schleifer
For a number of years, Theodore Schleifer has been covering the political involvement of David Sacks in his writing.
The President-elect, Donald J. Trump, has selected a well-known conservative investor, donor, and media figure from Silicon Valley to play a role in shaping American tech policy.
The president-elect announced on social media that venture capitalist and former PayPal executive David Sacks will be taking on the role of "White House A.I. and Crypto Czar." Sacks, who is a friend of Elon Musk, has been urging Musk to become more involved in Republican politics over the past year.
A newly created position in the Trump White House suggests a more relaxed approach to regulating technology and cryptocurrencies, especially since they have increased in value since Trump’s election. The appointee, Mr. Sacks, advocates for a more lenient policy towards both cryptocurrency and artificial intelligence.
Mr. Sacks successfully advocated for a consolidated approach within the Trump transition team. Instead of having separate individuals oversee artificial intelligence and crypto, as some suggested, Mr. Sacks was appointed to oversee both areas in a joint capacity.
On Thursday evening, Mr. Trump announced that David will be responsible for shaping policy in Artificial Intelligence and Cryptocurrency for the Administration. He emphasized the importance of these two areas for American competitiveness in the future and expressed his confidence in David’s ability to help America become a leading global force in both fields.
According to his firm, Mr. Sacks does not hold a full-time position. He had mentioned to friends that he preferred not to have a formal role as it would mean giving up his current role overseeing his venture capital fund, as reported by The New York Times. Just this week, Mr. Sacks announced a new round of start-up funding that was led by his firm.
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