David Sacks is Trump’s AI and crypto ‘czar’

The verge · 2 years ago · 148 views

David Sacks speaking at the 2024 Republican National Convention. | Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images President-elect Donald Trump says that VC and All-In podcast co-host David Sacks will be the “White House A.I. & Crypto Czar.” The appointment of Sacks, who hosted a $300,000-a-person dinner at his San Francisco mansion to fundraise for Trump’s campaign, follows the appointment of fellow PayPal mafia member Elon Musk to co-lead the “Department of Government Efficiency.” According to Bloomberg, like Musk, Sacks will be “a special government employee” who can serve up to 130 days a year without divesting or publicly disclosing his assets. Here’s what Sacks will be tasked with in his role, according to Trump: In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas. He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship. He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S. Trump says Sacks will also head up the Presidential Council of Advisors for Science and Technology, an independent advisory committee that exists today. In a second Truth Social post, Trump highlighted Sacks’ history at PayPal (where he worked with Musk) and his founding of Yammer, which Microsoft bought for $1.2 billion in 2012. Sacks is a vocal, longtime supporter of Musk. He’s an investor in SpaceX and played a key role in Musk’s takeover of Twitter. His VC firm, Craft Ventures, has backed tech firms like the AI enterprise startup Glean and Palantir, the Peter Thiel-founded government contractor. Sacks has also become an influential figure in the Republican Party. He spoke at the 2024 Republican National Convention and was at Mar-a-Lago on Election Day. Shortly after Trump announced his appointment, leaders from key AI and crypto companies, including OpenAI CEO Sam Altman, rushed to X to congratulate Sacks. “Great pick,” wrote Coinbase COO Emilie Choi. “@DavidSacks was in crypto early and has a nuanced understanding of the space. Time to build in the US!” Update, December 5th: Added more info about Sacks and responses from tech leaders.