Transition of power from
Transition of power
Transition of power
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Trump has appointed David Sacks, a prominent figure in Silicon Valley and a conservative, to supervise the regulation of cryptocurrency and artificial intelligence. Sacks, a venture capitalist and podcast host, has advocated for less strict regulations on these new technologies.
Authored by Theodore Schleifer
For the past few years, Theodore Schleifer has been covering the political involvements of David Sacks in his writings.
President-elect Donald J. Trump has selected a well-known conservative figure from Silicon Valley to assist in shaping American tech policy.
The president-elect has 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 associate of Elon Musk and has been instrumental in encouraging Musk to become more involved in Republican politics in recent years.
A new position is being created that suggests the Trump administration plans to have less regulation on technology, especially cryptocurrencies. These digital currencies have increased in value since Trump’s election, and Trump himself has a business interest in them. The person appointed to this position, Mr. Sacks, advocates for a more lenient approach towards regulating both cryptocurrencies and artificial intelligence.
Mr. Sacks successfully advocated for a decision in the Trump transition team. Instead of having multiple individuals oversee artificial intelligence and crypto separately, Mr. Sacks was appointed to oversee both areas in a single joint position.
Mr. Trump announced on Thursday that David will be responsible for shaping policies related to Artificial Intelligence and Cryptocurrency for the Administration. These areas are considered crucial 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 his friends that he opted out of a formal role because it would mean giving up his current responsibility of managing his venture capital fund. Recently, Mr. Sacks revealed that his firm had secured new funding for a start-up.
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