Who Is David Sacks? Donald Trump Appoints Former PayPal COO As White House AI and Crypto Czar
Sacks, known for his contributions to Silicon Valley and his deep connections within the tech industry, will play a major role in shaping policies that govern AI and cryptocurrency.
US President-elect Donald Trump named David Sacks as the White House’s AI and Cryptocurrency Czar.
Sacks, known for his contributions to Silicon Valley and his deep connections within the tech industry, will play a major role in shaping policies that govern Artificial Intelligence and cryptocurrency.
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Silicon Valley Titan
David Sacks is no stranger to innovation. A prominent member of the legendary “PayPal Mafia”, Sacks served as the Chief Operating Officer during PayPal's formative years, alongside the likes of Elon Musk and Peter Thiel. Following PayPal's acquisition by eBay, he ventured into filmmaking.
Sacks later returned to the tech world, founding Yammer, a workplace communication platform, which was sold to Microsoft in 2012 for $1.2 billion.
In 2017, he co-founded Craft Ventures, a leading venture capital firm investing in disruptive technologies, including many of Musk's ground-breaking ventures such as SpaceX. According to his LinkedIn profile, the company supports founders in mastering the art of creating successful businesses.
As a member of the Producers Guild of America, Sacks produced films such as Thank You for Smoking, a Golden Globe-nominated feature, and Dali Land, which premiered at the 2022 Toronto International Film Festival.
Education
David Sacks' academic journey laid a solid foundation for his illustrious career. According to his LinkedIn profile, he earned a Bachelor’s degree in Economics from Stanford University between 1990 and 1994. Following this, he pursued his Juris Doctor (J.D.) at the University Of Chicago Law School, completing it in 1998.
Sacks’ Political And Policy Vision
Known for his staunch advocacy for free speech, Sacks has criticised Big Tech for perceived censorship and has pushed for decentralisation in digital platforms. As AI and Crypto Czar, Sacks is expected to lead efforts to deregulate the cryptocurrency sector and provide clarity to its legal framework.
On the Artificial Intelligence front, Sacks will be tasked with shaping a forward-looking strategy to harness AI’s potential while addressing its challenges, including privacy concerns and workforce impacts. Trump has pledged to roll back the Joe Biden administration's restrictive AI policies to ensure a more innovation-friendly environment.
An Ally of Elon Musk
Sacks' long-standing association with Elon Musk has sparked speculation about potential synergies between the White House and Musk’s ventures in AI and crypto. With Musk launching xAI and the chatbot Grok, these collaborations could shape the path of technological advancements under Trump’s administration.
Bitcoin’s Record Run Amid Trump Optimism
Bitcoin has surged following Trump’s victory in the US presidential election, buoyed by expectations of favourable regulatory policies under his administration. On November 4, Bitcoin shattered its previous records, crossing the $1,00,000 milestone for the first time. The digital currency climbed further to $1,03,600 before stabilising at around $1,03,000.
