David Sacks, a conservative podcaster and tech investor, has been appointed by President-elect Donald Trump to serve as the newly created White House A.I. & Crypto Czar. In a post on Truth Social, Trump announced that Sacks will focus on making America a global leader in artificial intelligence and cryptocurrency.
Sacks’ role appears to be advisory, and he will continue to work at his venture capital firm, Craft Ventures. However, this appointment has raised concerns about the industry’s biggest firms and investors benefiting from the new regime.
As a crypto evangelist, Sacks is deeply embedded in the industry and has invested in several major companies, including Glue, Airbnb, Facebook, Lyft, and SpaceX. He was also an early investor in Done Global, which saw top executives arrested for massive fraud charges.
Sacks’ selection points to a potential regime that will favor large firms and investors over smaller ones. His appointment has sparked debate about the role of tech giants in regulating AI and cryptocurrency. Despite this, Sacks expressed his gratitude towards Trump for the “czar” role, stating he looks forward to advancing American competitiveness in these critical technologies.
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Source: https://www.sfgate.com/tech/article/david-sacks-trump-white-house-19964467.php