President-elect Donald Trump has appointed David Sacks, a Silicon Valley entrepreneur and venture capitalist, to the newly created role of “AI & crypto czar.” The part-time position is set to oversee both rapidly growing sectors without requiring Senate confirmation. Critics have raised concerns over conflict of interest and lack of oversight.
Sacks has long been close to Trump, hosting his on his popular podcast All-In and lobbying for Trump’s running mate J.D. Vance. He has also expressed support for a freer ecosystem empowering AI companies to grow, advocating for fair use of internet content for training purposes. Sacks’ views align with those of fellow Trump appointees and Silicon Valley leaders who espouse pro-industry stances.
The appointment is seen as a signal that startups and venture capital will be central to the Administration’s approach to AI. However, concerns have been raised about the lack of oversight and potential conflicts of interest due to Sacks’ investments in AI companies like OpenAI, Solana, and Bitwise through his VC fund Craft.
Sacks’ role also includes oversight of crypto, with Trump expressing support for a light-touch regulatory framework. Critics worry that this could lead to undue influence from the tech industry and favor specific individuals over broader public interests. The White House has yet to confirm details about Sacks’ staffing or funding arrangements.
Source: https://time.com/7200518/david-sacks-new-white-house-ai-crypto-czar-trump-administration