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Trump has appointed David Sacks, a prominent venture capitalist from Silicon Valley, to be in charge of overseeing cryptocurrency and artificial intelligence. Sacks, known for hosting a popular podcast, is known for advocating for less strict regulations on these new technologies.
Written by Theodore Schleifer
For the past few years, Theodore Schleifer has been covering the political endeavors of David Sacks in his writing.
President-elect Donald J. Trump has appointed a well-known conservative investor, donor, and media 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, will be appointed as the "White House A.I. and Crypto Czar." Sacks is known for launching a successful podcast and is a close friend of Elon Musk. Over the past year, Sacks has been urging Musk to become more involved in Republican politics.
The newly established position indicates that the Trump administration plans to take a more relaxed approach towards regulating technology, especially cryptocurrencies. These digital assets have seen a significant increase in value since Trump’s election, and Trump himself has a vested interest in them. The appointment of Mr. Sacks, a venture capitalist from Craft Ventures, suggests a push for more lenient policies on both cryptocurrency and artificial intelligence.
Mr. Sacks successfully advocated for a consolidated approach within the Trump transition team. Instead of having separate individuals manage artificial intelligence and crypto, Mr. Sacks was selected to oversee both areas in a combined role.
On Thursday evening, Mr. Trump announced that David will be leading policy efforts for the Administration in the fields of Artificial Intelligence and Cryptocurrency, which are important for American competitiveness in the future. He emphasized that David’s focus will be on establishing America as the top global leader in both of these areas.
Mr. Sacks does not work full-time, according to his company. He had mentioned to friends that he preferred not to have a formal position that would take him away from 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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