David Sacks, notable venture capitalist and former CEO of the social networking platform Yammer, has been appointed as the “White House AI & Crypto Czar” in President-elect Donald Trump’s incoming administration. This announcement was made on Trump’s Truth Social platform, highlighting Sacks’ crucial role in shaping policies surrounding Artificial Intelligence and Cryptocurrency—two sectors deemed vital for America’s competitive edge on the global stage.
Trump emphasized Sacks’ responsibilities will include promoting the United States as a leader in these fields, ensuring the protection of free speech online, and addressing concerns around bias and censorship from major tech companies. Additionally, Sacks will work towards establishing a clear legal framework for the cryptocurrency industry to flourish within the U.S.
In this newly created role, Sacks will also chair the Presidential Council of Advisors for Science and Technology. His impressive tech credentials include being an early executive at PayPal and leading Yammer until its acquisition by Microsoft in 2012 for $1.2 billion.
Sacks joins a growing roster of Silicon Valley entrepreneurs in Trump’s administration, enhancing the president-elect’s strategy of employing industry leaders in key positions. His recent activities include speaking at the Republican National Convention and hosting a successful fundraising event that raised $12 million for Trump’s campaign.
This appointment aligns with Trump’s campaign promise to reverse an executive order from the Biden administration that affected AI policies, showcasing a bold stance towards innovation and economic growth in the tech sector.
Overall, David Sacks’ selection signals a proactive approach toward harnessing technological advancements and creating a conducive environment for emerging sectors, which may foster innovation and job creation in America. This leadership could potentially enhance the global standing of the U.S. in the crucial fields of AI and cryptocurrency, benefitting the economy and society at large.