David Sacks Appointed AI and Crypto Czar in Trump Administration
President-elect Donald Trump announced David Sacks as the new AI and crypto czar. Sacks, a significant supporter of Trump in Silicon Valley, has connections with administration insiders including Vice President-elect JD Vance and tech billionaire Elon Musk. Vance regards Sacks as one of his closest friends in technology.
Sacks co-founded PayPal with Musk and Peter Thiel in the early 2000s, becoming part of the "PayPal mafia," a group known for creating and investing in major tech firms like YouTube and OpenAI. After a brief period in Hollywood producing Thank You for Smoking, he returned to Northern California to establish Yammer, later acquired by Microsoft, and venture capital firm Craft Ventures. During the Covid pandemic, he co-hosted the podcast “All-In” with other venture capitalists.
Chamath Palihapitiya praised Sacks on X, stating he represents American values and will ensure the U.S. leads in AI and crypto, which are critical to national competitiveness. Trump's statement emphasized that Sacks will guide policy in these areas, aiming to position America as a global leader.
Sacks is expected to spearhead the Trump Administration's initiatives for digital asset regulation, working on a legal framework to provide clarity requested by industry executives. While it remains uncertain if Sacks will have a team of advisers, stakeholders in both sectors are likely eager to collaborate with him.
The integration of AI and cryptocurrency policy under one czar aims to address regulatory challenges as both industries evolve. The decision reflects their interconnectedness, though they remain distinct fields. Observers will monitor developments closely.