David Sacks, a prominent venture capitalist and former CEO of the enterprise social network platform Yammer, has been appointed by President-elect Donald Trump to a significant new position known as the “White House AI & Crypto Czar.” This announcement was made on Thursday through a series of posts on Trump’s platform, Truth Social.
Trump emphasized that Sacks will play a vital role in shaping policies regarding Artificial Intelligence and Cryptocurrency, fields that are crucial for enhancing America’s competitive edge globally. Sacks will take on the responsibility of ensuring that the U.S. remains a leader in these sectors by promoting free speech online and providing a legal framework for the cryptocurrency industry to flourish without the hindrance of Big Tech bias and censorship.
In addition to this role, Sacks will also head the Presidential Council of Advisors on Science and Technology, a position that highlights his expertise in tech-related areas.
Sacks began his technology career in 1999 at PayPal, eventually becoming the chief operating officer and earning recognition as part of the “PayPal Mafia,” a group of influential entrepreneurs who have had substantial impacts on Silicon Valley. He later founded Yammer, which he sold to Microsoft for $1.2 billion in 2012.
This appointment aligns with Trump’s trend of selecting successful figures from the tech industry for key roles in his administration. Earlier nominations include venture capitalist Daniel Driscoll as secretary of the Army and Elon Musk to co-lead the Department of Government Efficiency.
While Sacks has not had a formal governmental role prior, he gained visibility within political circles, speaking at the Republican National Convention and hosting a fundraiser for Trump that successfully raised $12 million in Silicon Valley.
This new appointment indicates a proactive approach by the incoming administration to address emerging tech challenges while fostering a robust environment for innovation. Amid growing concerns over technology governance, Sacks’ expertise could be crucial in navigating the future of AI and cryptocurrency in the U.S.
Summary: David Sacks has been appointed as the “White House AI & Crypto Czar” by President-elect Donald Trump to guide policies on Artificial Intelligence and Cryptocurrency. With a background in tech and a successful career at PayPal and Yammer, Sacks aims to establish the U.S. as a global leader in these fields while tackling issues of free speech and Big Tech censorship. His previous fundraising efforts for Trump and participation in the Republican National Convention highlight his growing political presence.
The future holds promise as Sacks begins this critical role, potentially bringing innovation and clarity to the evolving landscapes of AI and cryptocurrency.