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Trump has appointed David Sacks, a prominent venture capitalist in Silicon Valley, to oversee the regulation of cryptocurrencies and artificial intelligence. Sacks, who also hosts a popular podcast, advocates for less strict regulation when it comes to these new technologies.
Authored by Theodore Schleifer
For the past few years, Theodore Schleifer has been writing about David Sacks’ involvement in politics.
President-elect Donald J. Trump has appointed a well-known conservative figure from Silicon Valley to assist in managing tech policy in the United States.
The president-elect announced on social media that David Sacks, a venture capitalist and former executive at PayPal, will be taking on the role of "White House A.I. and Crypto Czar." Sacks, who is known for launching a successful podcast, is a close friend of Elon Musk and has been advocating for Musk to become more involved in Republican politics.
This new position in the Trump White House signals a shift towards less regulation of technology, especially cryptocurrencies. The surge in value of cryptocurrencies since Trump’s election, in which he has a personal business interest, may have influenced this decision. The individual appointed to this position, Mr. Sacks, leads a venture capital firm and has advocated for looser policies on both cryptocurrency and artificial intelligence.
Mr. Sacks was successful in advocating for the consolidation of oversight for artificial intelligence and crypto within the Trump transition effort. Instead of having separate individuals in charge of these areas, Mr. Sacks was selected to oversee both in a joint appointment.
On Thursday evening, Mr. Trump announced that David will be leading the policy direction for the Administration on Artificial Intelligence and Cryptocurrency, which are crucial for American competitiveness in the future. 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 work full-time. He mentioned to friends that he didn’t want an official role as it would mean leaving his current job overseeing his venture capital fund, as reported by The New York Times. Just this week, Mr. Sacks revealed a new round of start-up funding, which was led by his firm.
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