Donald Trump has announced the appointment of venture capitalist, former PayPal COO, and podcaster David Sacks as the "Czar" in his administration, officially titled the "White House A.I. & Crypto Czar." The announcement was made on Trump’s social media platform, Truth Social.
Key Responsibilities in the New Role
According to the statement, Sacks will oversee the development of artificial intelligence and cryptocurrencies in the United States, aiming to solidify the country's position as a global leader in these fields. Trump emphasized that his new team will focus on protecting free speech online and combating bias within major tech companies.
Why It Matters
Experts believe Sacks’ appointment highlights the Trump administration’s effort to engage Silicon Valley leaders who supported his election campaign. Earlier this year, Sacks hosted a fundraiser for Trump at his San Francisco mansion, with ticket prices ranging from $50,000 to $300,000.
Who is David Sacks
David Sacks is a renowned entrepreneur and investor. He sold Yammer, a corporate social networking service, to Microsoft for $1.2 billion in 2012 and is a member of the so-called "PayPal Mafia" alongside Elon Musk and Peter Thiel. In recent years, Sacks gained popularity as the host of the All-In podcast, which discusses economic, political, and social issues.
It is noteworthy that Sacks had previously criticized Trump, particularly after the January 6, 2021 Attack on the US Capitol, but later shifted his stance and spoke at the Republican National Convention this July.
Earlier, on December 4, Trump appointed Paul S. Atkins as the new head of the Securities and Exchange Commission (SEC). The previous chairman, Gary Gensler, announced his resignation on November 22.