Transition period for the
Transition of power
Transition of power
Prom
Donald Trump has appointed David Sacks, a prominent venture capitalist and podcast host from Silicon Valley, to be in charge of overseeing the regulation of cryptocurrency and artificial intelligence. Sacks has advocated for less strict regulation of these new technologies.
Written by Theodore Schleifer
Theodore Schleifer has been covering David Sacks’ political involvement for the past few years.
The incoming President Donald J. Trump has appointed a well-known conservative figure in Silicon Valley to assist in managing tech policy in the United States.
The president-elect announced on social media that David Sacks, a venture capitalist and former PayPal executive who started a popular podcast, will be taking on the role of "White House A.I. and Crypto Czar." Sacks, who is a close associate of Elon Musk, has been pushing Musk to become more involved in Republican politics in recent years.
A new position is being created within the Trump White House, indicating a shift towards less regulation of technology and cryptocurrencies. This comes as cryptocurrencies have increased in value since Trump’s election, and Trump himself has a business interest in them. The individual appointed to this new role, Mr. Sacks, is the leader of Craft Ventures, a venture capital firm, and has advocated for more lenient policies on both cryptocurrency and artificial intelligence.
During the Trump transition period, Mr. Sacks successfully advocated for overseeing both artificial intelligence and crypto under his leadership, rather than having separate individuals in charge of each. This decision was made despite others suggesting the roles be divided among different people.
On Thursday evening, Mr. Trump announced that David will be leading policy development for the Administration in the fields of Artificial Intelligence and Cryptocurrency. These two areas are seen as crucial for maintaining American competitiveness in the future. David’s main objective will be to position America as the top global leader in both of these industries.
According to his firm, Mr. Sacks does not have a full-time position. He has mentioned to his friends that he prefers not to have a formal role because it would mean stepping away from his responsibilities at his venture capital fund. Recently, Mr. Sacks revealed a new round of funding for a start-up that his firm is leading.
We are experiencing difficulties accessing the content of the article.
Make sure to activate JavaScript in the settings of your web browser
We appreciate your understanding as we confirm your access. If you are currently using Reader mode, please sign out and log in to your Times account, or consider subscribing to access all of The Times content.
We appreciate your understanding as we confirm access.
Are you currently a member? Please sign in.
Interested in accessing all of The Times’ content? Sign up for
Prom
Index of the website
Navigation to find information on