David Sacks is the choice of Donald Trump, President elect.
Sacks is one of Trump’s loudest and most influential supporters in Silicon Valley. He has close ties with insiders such as Vice President-elect JDVance and Elon Musk, the tech billionaire. Vance called Sacks a friend. “closest friends in the tech world.”
Sacks made a name for himself at PayPal — co-founded by Musk, Peter Thiel and others — in the early 2000s. They are members of the so called “PayPal mafia,” Former employees and founding members of major technology companies such as YouTube and OpenAI.
Sacks spent a few days in Hollywood where he produced Thank You for Smoking. The satirical comedy was based off the novel of Christopher Buckley.
He returned to Northern California and founded Yammer – a platform for workplace communication that was later purchased by Microsoft – as well as venture capitalist Craft Ventures. He then started (to no one’s surprise) a podcast in the midst of the Covid Pandemic. “All-In” The event is hosted by Chamath Palihapitiya and Jason Calacanis, as well as David Friedberg.
“David Sacks is the very best of America — a successful entrepreneur, a principled free speech absolutist and a brilliant technologist,” Palihapitiya wrote on X Thursday. “He will make sure the US stays at the forefront of AI and crypto — two of the most consequential technological movements in history.”
There’s a resume. Trump announced Thursday that Sacks would be taking on the new position. “guide policy for the administration in [AI] and cryptocurrency, two areas critical to the future of American competitiveness.” Your objective? What is his objective? “America the clear global leader in both areas.”
It sounds like an impossible task.
Sacks will likely be at the forefront of what Trump Administration promises to be a brand new era in digital asset regulation. Trump said on Thursday that Sacks would be working on an “legal framework” For the industry to provide for the “clarity” This is something that many executives are requesting.
Sacks is expected to have an advisers’ team, although it has not been confirmed yet. Sacks is expected to have a staff of advisers.
It’s not surprising that the AI and crypto combo will have a czar to oversee policy. I am curious, however, how this combination plays out. The two aspects of technology are frequently merged, particularly as they continue to expand and pose new questions. They are still two separate industries. We’ll keep an eye out.
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