Trump picks venture capitalist David Sacks as AI and crypto ‘czar’
GuardianDec 08
Trump Names Tech Mogul David Sacks as AI, Crypto Czar
Above: David Sacks, CEO of Yammer, speaks during the first day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, on July 15, 2024. Image copyright: Andrew Caballero-Reynolds/Contributor/AFP via Getty Images
The Facts
US Pres.-elect Donald Trump announced on Thursday that he would be appointing David Sacks, the former CEO of PayPal and a prominent venture capitalist, to serve as the White House artificial intelligence (AI) and cryptocurrency czar.
Sacks, a 52-year-old Silicon Valley insider and member of the "PayPal Mafia" — a group of former PayPal staffers including Elon Musk — will be tasked with creating a legal framework for the cryptocurrency industry and leading the White House Advisory Council on Science and Technology.
The Spin
Republican narrative
The appointment of one of Silicon Valley's most prominent business leaders signals the incoming Trump administration's strategic move toward lighter regulation of emerging technologies, potentially positioning America as a global leader in AI and cryptocurrency development while protecting free speech and reducing government oversight.
Democratic narrative
This appointments reflect troubling pay-to-play politics, as a major campaign donor gains significant policy influence despite previously criticizing Trump over the Jan. 6 Capitol riot. Additionally, concerns are mounting over potential conflicts of interest stemming from Sacks' personal and professional connections in the AI industry.