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Trump has appointed a prominent conservative from Silicon Valley, David Sacks, to oversee the regulation of cryptocurrency and artificial intelligence. Sacks, a venture capitalist and podcast host, believes in less strict regulation of these new and advancing technologies.
Authored by Theodore Schleifer
For the past few years, Theodore Schleifer has been covering the political involvements of David Sacks in his writing.
The incoming President, Donald J. Trump, has chosen a well-known conservative figure from Silicon Valley to assist in managing technology policy in the United States.
The president-elect announced on social media that David Sacks, a venture capitalist and former executive at PayPal who also hosts a popular podcast, will be appointed as the "White House A.I. and Crypto Czar." Sacks is known to be a close friend of Elon Musk, and he has been one of the individuals who has been urging Musk to become more involved in Republican politics in recent years.
This new position at the Trump White House indicates a shift towards a more relaxed approach to regulating technology, especially cryptocurrencies. This is significant because cryptocurrencies, which have increased in value since Trump’s election victory, are also of personal interest to Trump due to his business involvement. The individual appointed to this position, Mr. Sacks, is the leader of a venture capital firm and has advocated for a more lenient policy towards both cryptocurrency and artificial intelligence.
Mr. Sacks successfully argued for a consolidated approach within the Trump transition team. Instead of having separate individuals oversee artificial intelligence and crypto, he was selected to oversee both in a joint appointment.
On Thursday evening, Mr. Trump announced that David would be responsible for shaping policy on Artificial Intelligence and Cryptocurrency for the Administration. These two areas are important for America’s future competitiveness, and David will work towards ensuring America becomes the top global leader in both of them.
According to his firm, Mr. Sacks does not hold a full-time position. He had mentioned to his friends that he preferred not to have a formal role as it would mean stepping away from his responsibilities managing his venture capital fund. Recently, Mr. Sacks revealed that his firm had just launched a new round of start-up funding.
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