Transition of power from
Transitioning to
Transition of power
Prom
President Trump has appointed a prominent conservative from Silicon Valley, David Sacks, to lead the oversight of cryptocurrencies and artificial intelligence. Sacks, a successful venture capitalist and podcast host, has advocated for less strict regulation of these innovative technologies.
Written by Theodore Schleifer
For a number of years, Theodore Schleifer has been reporting on 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.
David Sacks, a venture capitalist and former executive at PayPal who started a popular podcast, has been named by the president-elect as the "White House A.I. and Crypto Czar." The announcement was made on social media on Thursday. Sacks is known for being a friend of Elon Musk and has been one of the individuals pushing Musk to become more involved in Republican politics in recent years.
The creation of this new position indicates that the Trump administration plans to have a more relaxed approach towards regulating technology, especially cryptocurrencies. These digital currencies have increased in value since Trump’s election win, and Trump himself has a financial stake in them. The person chosen for this role, Mr. Sacks, advocates for a more lenient policy on both cryptocurrency and artificial intelligence. He is the leader of a venture capital firm called Craft Ventures.
Mr. Sacks successfully advocated for a consolidated approach within the Trump transition team. Initially, there were suggestions to have different individuals in charge of overseeing artificial intelligence and crypto, but ultimately Mr. Sacks was selected to supervise both areas in a combined role.
On Thursday evening, Mr. Trump announced that David will be leading the policy direction for Artificial Intelligence and Cryptocurrency in the Administration. These two areas are important 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 acquaintances that he opted out of a formal role to continue overseeing his venture capital fund. Recently, Mr. Sacks revealed a new round of start-up funding that his firm is leading.
We are currently experiencing difficulty accessing the content of the article.
Please activate JavaScript in the settings of your web browser.
We appreciate your patience as we confirm your access. If you are currently in Reader mode, please log out and sign into your Times account, or consider subscribing to access all of The Times’ content.
We appreciate your understanding as we confirm access.
Are you already a member? Please sign in.
Interested in receiving all content from The Times? Simply subscribe to gain
Prom
Index of the website
Navigation to find information on