Venture capitalist and popular podcaster David Sacks has been appointed as the White House “A.I. & Crypto Czar” in the incoming Donald Trump administration, President-elect Donald Trump announced on Thursday through his social media platform, Truth Social. In this new role, David Sacks will oversee the administration’s policies on artificial intelligence and cryptocurrency, two areas Donald Trump has highlighted as central to America’s future economic and technological dominance.
According to Donald Trump’s post, David Sacks’ responsibilities will include creating a legal framework for cryptocurrency regulation and leading a presidential council dedicated to advising on science and technology. Donald Trump emphasized that David Sacks’ focus would be on making America the “clear global leader” in both artificial intelligence and cryptocurrency, while safeguarding free speech online and steering the country away from what Donald Trump describes as the “Big Tech bias and censorship.”
The appointment of David Sacks, a prominent venture capitalist from Silicon Valley, signals a strong connection between Donald Trump’s second term and key figures in the tech world. It also reflects the administration’s alignment with the interests of cryptocurrency entrepreneurs, many of whom have supported Donald Trump’s campaign. David Sacks’ role will likely help shape policies that could encourage the growth of blockchain technology and digital currencies, areas where he has significant expertise.
David Sacks, who became a major supporter of Donald Trump earlier this year, previously hosted a fundraiser for the Republican nominee at his San Francisco mansion. The event, which raised millions, had tickets priced at $50,000 per person, with a $300,000 tier that offered perks like a photo with Donald Trump. This shift in David Sacks’ stance is a marked contrast to his earlier criticism of Donald Trump following the January 6th Capitol riot, when he publicly stated that Donald Trump was “clearly” responsible for the events and had “disqualified himself” from a national role. However, by mid-2023, David Sacks was speaking at the Republican National Convention in Milwaukee, solidifying his support for Donald Trump’s campaign.
David Sacks is best known for his role in the tech industry as a co-founder of Yammer, a social networking company acquired by Microsoft for $1.2 billion in 2012. He is also part of the “PayPal mafia,” a group of influential tech entrepreneurs and investors, including Elon Musk and Peter Thiel, who were pivotal in PayPal’s rise in the late 1990s. In addition to his work as a venture capitalist, David Sacks co-hosts the popular “All-In Podcast” with fellow investors Chamath Palihapitiya, Jason Calacanis, and David Friedberg, discussing economic, political, and social issues.
