Emily Walker
On Thursday, Donald Trump, the newly elected president, designated former PayPal COO David Sacks as the new White House A.I. & Crypto Czar.
Trump made the announcement on his social media site, Truth Social, where he expressed confidence in Sacks’ ability to realize his vision of establishing America as “the clear global leader” in these sectors.
Sacks’ role aligns with that of Elon Musk, who has taken the position of head of the Department of Government Efficiency (DOGE). His appointment allows for a maximum of 130 days of service annually, whether compensated or not, without the obligation to publicly declare his assets.
As a co-host of the All In podcast and a venture capitalist, Sacks will assist in shaping federal regulations for cryptocurrency and artificial intelligence.
Additionally, he will oversee the Presidential Council of Advisors for Science and Technology, champion free speech, combat censorship, and shield the emerging industries from large tech firms’ influence.
Part of his responsibilities includes establishing a legal framework for the crypto sector, offering the clarity that has been sought for many years.
The position of “AI & Crypto Czar” is newly established under Trump, so the specific duties of this role remain somewhat undefined, but we can expect further developments following Sacks’ appointment.
About David Sacks
David Sacks has a rich history spanning 25 years. He began his career at McKinsey & Company as a management consultant. In 1999, he transitioned to join an e-commerce startup named Confinity along with three other co-founders.
This startup developed the original iteration of PayPal, with Sacks at the helm as its COO, managing areas like sales, marketing, product design, customer service, and fraud prevention.
After PayPal was acquired by eBay in 2002, Sacks moved on to establish several successful ventures. In 2020, amidst the pandemic, he co-founded the All-In podcast, which discusses topics including politics, technology, and current events.
Sacks’ Evolving View on Trump
David Sacks’ perspective on Trump has notably transformed. Initially, he was quite critical following the Capitol riot on January 6, 2021, attributing significant blame to Trump during his podcast discussions.
Over time, however, he shifted his stance, and recently organized a major fundraiser in San Francisco for Trump’s campaign, raising over $12 million.