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Trump has appointed David Sacks, a prominent venture capitalist and podcast host from Silicon Valley, to oversee the regulation of cryptocurrency and artificial intelligence. Sacks has advocated for less strict regulation of these new technologies.
Written by Theodore Schleifer
For a few years now, 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 technology policies 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 is a friend of Elon Musk and has been a key figure in encouraging Musk to become more involved in Republican politics in recent years.
This new position in the Trump White House signals a shift towards less regulation of technology, including cryptocurrencies. This is important because cryptocurrencies 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, is the leader of a venture capital firm and has advocated for a more lenient approach to regulating both cryptocurrencies and artificial intelligence.
In the Trump transition team, Mr. Sacks emerged victorious in a debate over how to handle artificial intelligence and crypto. Instead of having separate individuals in charge of each area, Mr. Sacks was selected to oversee both in a combined role.
"David has been appointed to oversee the development of policy in Artificial Intelligence and Cryptocurrency for the Administration, as these are two key areas for American competitiveness in the future," stated Mr. Trump. "David’s main goal will be to ensure that America becomes the leading global force in both of these fields."
According to his firm, Mr. Sacks does not hold a full-time position. He has mentioned to friends that he did not want a formal role as it would mean stepping down from his current role overseeing his venture capital fund, as previously reported by The New York Times. Recently, Mr. Sacks announced a new funding round for a start-up led by his firm.
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