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Donald Trump has appointed David Sacks, a prominent figure in Silicon Valley and conservative supporter, to supervise the regulation of cryptocurrency and artificial intelligence. Sacks, known for his successful podcast and work as a venture capitalist, advocates for less strict regulations on these advancing technologies.
Authored by Theodore Schleifer
For a number of years, Theodore Schleifer has been covering David Sacks’ involvement in political activities.
The incoming President, Donald J. Trump, has appointed a well-known conservative figure from Silicon Valley to assist in managing technology policies in the United States.
The president-elect revealed on social media that David Sacks, a venture capitalist and former executive at PayPal who started a successful podcast, will serve as the "White House A.I. and Crypto Czar." Sacks is a friend of Elon Musk and has been urging him to become more involved in Republican politics in recent times.
This new role solidifies the idea that the Trump administration plans to have a more relaxed approach to regulating technology, especially cryptocurrencies, which have increased in value since Trump’s election victory. The person appointed to this position, Mr. Sacks, is the head of a venture capital firm called Craft Ventures and has advocated for less restrictive policies on both cryptocurrency and artificial intelligence. Additionally, it is worth noting that Trump himself has a personal business interest in cryptocurrencies.
Mr. Sacks emerged victorious in a dispute during the Trump transition process. Instead of having multiple individuals oversee artificial intelligence and crypto separately, some were advocating for a single person to handle both. Ultimately, Mr. Sacks was selected for this combined role.
"Mr. Trump announced on Thursday evening that David will be responsible for shaping government policies related to Artificial Intelligence and Cryptocurrency, which are crucial for America’s future competitiveness. David’s main objective will be to ensure that America becomes the top global leader in these fields."
According to his firm, Mr. Sacks does not work full-time. He has mentioned to friends that he prefers not to take on a formal role that would require him to step away from his current responsibilities managing his venture capital fund, as reported by The New York Times. Recently, Mr. Sacks announced a new round of funding for a start-up that his firm is leading.
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