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Trump has appointed David Sacks, a prominent conservative figure in Silicon Valley, to manage the regulation of cryptocurrency and artificial intelligence. Sacks, who is a venture capitalist and hosts a popular podcast, has advocated for less strict regulation of these new technologies.
Written by Theodore Schleifer
For the past few years, Theodore Schleifer has been covering the political involvements of David Sacks in his writing.
The individual selected by President-elect Donald J. Trump to assist in managing American tech policy is a well-known conservative figure in Silicon Valley, with a background in investing, donating, and media presence.
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, who is known for launching a successful podcast, has been a friend of Elon Musk and has been urging him to become more involved in Republican politics in recent years.
A new position is being created in the Trump White House, indicating a more lenient approach towards regulating technology and cryptocurrencies. This is especially important as cryptocurrencies have increased in value since Trump’s election, and Trump himself has a business interest in them. The individual chosen for this position is Mr. Sacks, who is the head of a venture capital firm called Craft Ventures and has advocated for less restrictive policies on both cryptocurrencies and artificial intelligence.
During the Trump transition effort, there was a disagreement over who should oversee artificial intelligence and crypto. Despite others suggesting separate positions for each, Mr. Sacks ultimately was chosen to oversee both in a joint appointment.
On Thursday evening, Mr. Trump announced that David will be responsible for directing government policy on Artificial Intelligence and Cryptocurrency, which are both important for American competitiveness in the future. David’s main goal will be to ensure that America becomes the top global leader in these two areas.
According to his firm, Mr. Sacks does not hold a full-time position. He had informed friends that he did not want a formal role as it would mean stepping away from his responsibilities managing his venture capital fund, as reported by The New York Times. Just recently, Mr. Sacks announced a new round of funding for a start-up that was led by his firm.
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