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Trump has appointed David Sacks, a successful venture capitalist and popular podcast host from Silicon Valley, to oversee the regulation of cryptocurrency and artificial intelligence. Sacks is known for advocating for less strict regulations on these cutting-edge technologies.
Written by Theodore Schleifer
For the past few years, Theodore Schleifer has been covering the political involvement of David Sacks in his writing.
President-elect Donald J. Trump has appointed a well-known conservative figure from Silicon Valley to assist in managing American technology policy.
The president-elect announced on social media that David Sacks, a venture capitalist and former executive at PayPal who has a successful podcast, will be taking on the role of "White House A.I. and Crypto Czar." Sacks, who is a close friend of Elon Musk, has been urging Musk to become more involved in Republican politics over the past year.
A new position is being created within the Trump White House, signaling a more lenient approach towards regulating technology, especially cryptocurrencies. Since Mr. Trump’s election, the value of cryptocurrencies has risen, in which Mr. Trump himself has a financial stake. The individual appointed to this new role, Mr. Sacks, who heads a venture capital firm named Craft Ventures, advocates for less restrictive policies on both cryptocurrencies 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, Mr. Sacks was selected to oversee both areas in a single appointment.
Mr. Trump announced on Thursday evening that David will be in charge of shaping policies related to Artificial Intelligence and Cryptocurrency for the Administration. These areas are crucial for America’s future competitiveness, and David will work towards ensuring that America becomes the top global leader in both fields.
According to his firm, Mr. Sacks does not have a full-time position. He had mentioned to friends that he preferred not to have a formal role as it would mean stepping away from his current responsibilities managing his venture capital fund. Recently, Mr. Sacks revealed that his firm is leading a new round of funding for a start-up.
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