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Trump has appointed David Sacks, a prominent venture capitalist from Silicon Valley, to lead the regulation of cryptocurrency and artificial intelligence. Sacks, known for his successful podcast, advocates for more relaxed regulations on these innovative technologies.
Authored by Theodore Schleifer
For a few years now, Theodore Schleifer has been writing about David Sacks’ involvement in political activities.
The incoming President, Donald J. Trump, has appointed a well-known conservative figure from Silicon Valley to play a key role in shaping American tech policy.
The president-elect 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 a friend of Elon Musk and has been pushing him to get 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 in the technology and cryptocurrency sectors. This decision comes as cryptocurrencies, including those in which Mr. Trump has a business interest, have seen a significant increase in value since his election. The individual appointed to this new role, Mr. Sacks, is the head of a venture capital firm named Craft Ventures and has advocated for a more lenient approach to policies regarding cryptocurrency and artificial intelligence.
Mr. Sacks emerged victorious in a conflict during the Trump transition process. Various individuals were suggesting to the Trump team that different individuals should be responsible for overseeing artificial intelligence and crypto. However, Mr. Sacks was ultimately selected to oversee both areas in a combined role.
On Thursday evening, Mr. Trump announced that David will be leading the development of policy for the Administration in the fields of Artificial Intelligence and Cryptocurrency. These two areas are seen as crucial for America’s future competitiveness. David’s main goal will be to ensure that America becomes the top global leader in both of these areas.
According to his firm, Mr. Sacks does not hold a full-time position. He mentioned to his friends that he didn’t want a formal role as it would mean giving up his responsibilities managing his venture capital fund. Recently, Mr. Sacks revealed a new round of startup funding that his firm is leading.
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