Venture capitalist David Sacks named AI and crypto czar in Trump’s second administration
Nickie Louise
Posted On December 6, 2024
Venture capitalist and tech investor David Sacks has been appointed as the “White House A.I. & Crypto Czar,” President-elect Donald Trump announced Thursday. “David will focus on making America the clear global leader in both areas,” Trump wrote in a social media post on Truth Social
Trump lauded Sacks as an accomplished entrepreneur and investor with over 25 years of experience building and funding some of Silicon Valley’s most iconic companies.
“David Sacks has been an extremely successful entrepreneur and investor for 25 years, building and investing in some of the most iconic companies in Silicon Valley,” Trump said. “He was PayPal’s founding-era COO, part of the legendary ‘PayPal Mafia.’ David then founded enterprise software company, Yammer, which was acquired by Microsoft for $1.2 Billion Dollars. Subsequently, he founded Craft Ventures, a venture capital firm based in San Francisco.”
David expressed his gratitude to the President-elect, saying, “Thank you, Mr. President. I am deeply honored and humbled by the trust you’ve placed in me. I’m eager to contribute to advancing America’s leadership in these vital technologies.”
https://t.co/DllC6aJYoG pic.twitter.com/Li86cNDuP8
— David Sacks (@DavidSacks) December 6, 2024
As the White House A.I. & Crypto Czar, Sacks will oversee policies on artificial intelligence and cryptocurrency, including the creation of a legal framework for crypto and leading a presidential council of advisors on science and technology. Trump emphasized Sacks’ ability to excel in these areas, saying, “David has the knowledge, business experience, intelligence, and pragmatism to MAKE AMERICA GREAT in these two critical technologies.”
This appointment underscores the administration’s alignment with tech figures who backed Trump’s campaign. It also signals support for policies that appeal to cryptocurrency entrepreneurs and innovators in AI.
Sacks gained attention earlier this year for hosting a fundraiser for Trump at his San Francisco mansion. Tickets were priced at $50,000, with a $300,000 option that included exclusive perks like a photo with Trump, CNBC reported. The event marked a significant shift for Sacks, who had previously criticized Trump after the Capitol riot on January 6, 2021, calling him “clearly” responsible for the events and “disqualified” as a national candidate.
Best known for his role as PayPal’s COO during its formative years, Sacks is part of the influential “PayPal Mafia,” which includes figures like Elon Musk and Peter Thiel.
In addition to his tech accomplishments, he co-hosts the popular “All-In” podcast alongside Chamath Palihapitiya, Jason Calacanis, and David Friedberg. Trump highlighted the podcast as “the top podcast in Tech, where he and his friends discuss economic, political, and social issues.”
Sacks’ appointment signals a forward-looking approach by the administration to secure leadership in AI and crypto technologies. “Congratulations, David!” Trump concluded. Crypto prices have gone by about 40% since Trump won the election in November.
