President-elect Donald Trump said on Thursday that podcaster and venture capitalist David Sacks will become the White House’s AI and cryptocurrency czar.
According to Trump, Sacks will direct the administration’s cryptocurrency and AI policy. Leading the presidential council of advisors on science and technology and developing a legal framework for cryptocurrencies are two examples of that effort.
According to Trump, David will concentrate on establishing America as the undisputed leader in both fields. He will protect online free speech and guide us away from the censorship and bias of Big Tech.
The appointment shows that Silicon Valley leaders who backed Trump’s candidacy are being rewarded by the second Trump administration. Additionally, it suggests that the administration will advocate for laws that are generally favored by cryptocurrency business owners.
Earlier this year, Sacks hosted a fundraiser for the then-Republican nominee in his San Francisco mansion, solidifying his position as a strong Trump supporter. Each ticket cost $50,000, with a $300,000 tier including benefits like a picture with Trump.
For Sacks, who had been harshly critical of Trump during the Capitol brawl on January 6, 2021, it was a dramatic shift of tone. Shortly after, Sacks stated in an All-In podcast episode that Trump was obviously accountable for the events of January 6 and that he had disqualified himself from running for office nationally.
Sacks gave a speech in Milwaukee during the Republican National Convention in July.
In 2012, Sacks, an entrepreneur and venture financier, sold Yammer to Microsoft for $1.2 billion. Additionally, he is a member of the PayPal mafia, an unofficial organization of well-known investors and industry leaders, such as Peter Thiel and Elon Musk, who were PayPal employees in the 1990s.
Sacks’ most well-known role in recent years has been presenting the All-In podcast with David Friedberg, Jason Calacanis, and fellow investor Chamath Palihapitiya. Trump referred to it as the best tech podcast in his tweet, where he and his friends talk about social, political, and economic concerns.
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