David Sacks, a prominent venture capitalist and entrepreneur, has been appointed as the “White House A.I. & Crypto Czar” by former President Donald Trump. This new role places Sacks at the forefront of shaping the administration’s policies on artificial intelligence and cryptocurrency, with a clear goal of establishing the United States as the global leader in these rapidly evolving sectors.
Sacks, widely recognized for his successful sale of Yammer to Microsoft for $1.2 billion in 2012, is affiliated with the “PayPal mafia,” a notable group of influential technology figures and investors who began their careers at PayPal. Earlier this year, he became a significant supporter of Trump, having hosted a high-profile fundraiser at his San Francisco mansion. Tickets for the event fetched as high as $50,000 each, with a premium tier priced at $300,000 that included exclusive benefits like a photo opportunity with Trump.
In his new capacity, Sacks will guide the administration’s approach to artificial intelligence and cryptocurrency, focusing on fostering innovation while safeguarding free speech online. Trump emphasized Sacks’ vital role during the announcement, stating, “David will focus on making America the clear global leader in both areas.” Moreover, Trump highlighted Sacks’ commitment to combatting bias and censorship from big tech companies, asserting that he will “safeguard Free Speech online.”
Though Sacks has recently aligned himself with Trump, he has not shied away from criticism in the past. Following the Capitol riot on January 6, 2021, Sacks was vocal about his disapproval. He stated on an episode of his All-In podcast that Trump was “clearly” responsible for the events of that day and declared that he had “disqualified himself from being a candidate at a national level.” The podcast, where Sacks discusses various economic, political, and social issues alongside fellow tech investors Chamath Palihapitiya, Jason Calacanis, and David Friedberg, has gained substantial popularity.
Sacks’ involvement in the Republican National Convention in Milwaukee this past July further solidified his rising profile within the party. His appointment marks a significant shift for both Sacks and the Trump administration as they now seek to navigate the complex landscape of technology policy.
Featured image courtesy of Puck
