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Venture investor and podcaster David Sacks has been appointed as the “White House A.I. & Crypto Czar” by President-elect Donald Trump. Sacks will be responsible for guiding the administration’s policies on artificial intelligence and cryptocurrency, including creating a legal framework for crypto and leading a presidential council of advisors on science and technology. Trump stated that Sacks will focus on making America a global leader in both areas, safeguarding free speech online, and avoiding Big Tech bias and censorship.
Sacks had previously been critical of Trump after the Capitol riot on Jan. 6, 2021, but later became a major supporter, hosting a fundraiser for the former president at his San Francisco mansion. This appointment signifies that the second Trump administration is rewarding Silicon Valley figures who supported his campaign and suggests that policies favorable to cryptocurrency entrepreneurs will be pursued.
Sacks is a venture capitalist and entrepreneur who sold Yammer to Microsoft for $1.2 billion in 2012 and is part of the “PayPal mafia,” a group of prominent technology figures and investors who were affiliated with PayPal in the 1990s. He is also known for hosting the All-In podcast, where he discusses economic, political, and social issues with fellow investors. Overall, Sacks’ appointment reflects a shift in his stance towards Trump and signals potential changes in tech and cryptocurrency policy under the new administration.
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