Andrew R. Chow
For much of 2024, one of President-elect Donald Trump’s staunchest allies in Silicon Valley was David Sacks, an entrepreneur, venture capitalist, and co-host of the popular podcast All-In. On his podcast and social media, Sacks argued that Trump’s pro-industry stances would unleash innovation and spur growth in the tech industry. In June, Sacks hosted a fundraiser for Trump in San Francisco that included $300,000-a-person tickets.
Now, Sacks has been rewarded with a position inside the White House: the brand-new role of "AI & crypto czar." It’s unclear how much power this role actually has. It appears that this will be a part-time role, and that Sacks will remain with his VC fund Craft. This murkiness, and the fact that Sacks will not have to go through the Senate confirmation process, is drawing concerns over conflict of interest and lack of oversight. Regardless, Sacks will start the Administration with Trump’s ear on key policy decisions in these two rapidly growing sectors. Leaders inside both industries largely cheered the decision.
“A whole-of-government approach that collaborates closely with private industry is essential to winning the AI race, and a designated AI leader in the Administration can help do that,” Tony Samp, the head of AI policy at the law firm DLA Piper, tells TIME.
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