On Thursday, newly elected President Donald Trump named David Sachs, former COO of PayPal, as the new director of artificial intelligence and cryptocurrency in the White House.
Make this ad On his social media platform, Truth Social, Trump praised Sachs and said he was able to achieve his dream of making America the “clear global leader” a reality.
His appointment order is similar to that of Elon Musk, who was recently appointed head of the Department of Government Efficiency (DOGE). He is not a full-time employee and therefore can work up to 130 days a year (with or without compensation) and will not be required to publicly disclose his assets.
Sachs, who currently co-hosts the All In podcast and is also a venture capitalist, will help the government with federal policies related to cryptocurrencies and artificial intelligence.
He will also be responsible for leading the Presidential Council of Advisors on Science and Technology, preventing censorship, protecting freedom of expression, and protecting the two industries from the dominance of Big Tech.
His work will also include shaping a legal framework for the cryptocurrency industry so that it can finally get the clarity it has been seeking for years.
“AI and Cryptocurrency Czar” is a newly created position by Trump, and little is known about the responsibilities that fall under it. But now that Sachs has taken on the role, we can expect to learn more soon.
More about David Sacks
David Sachs has a legacy dating back 25 years. He began his career as a management consultant for McKinsey & Company. Then in 1999, he left his job to work on his e-commerce startup Confinity with three other partners.
This company created the first version of PayPal and the entire project was led by Sacks who was later appointed COO. He served as the back-end of the company, overseeing sales, marketing, product design, customer service, fraud detection and prevention, HR functions, and everything else.
In 2002, PayPal was acquired by eBay and Sachs took his leave. He then went on to launch a number of successful companies. Finally in 2020, in the midst of the pandemic, he founded All-In with 3 other partners which covers politics, technology, business, and current events.
Sachs’s position on Trump
David Sachs’s attitude toward Trump has undergone a radical transformation. At first, he was very critical of him, especially after the Capitol riots on January 6, 2021. In fact, he clearly stated on his podcast that Trump was responsible for the riots.
However, over the years, he slowly sided with Trump. In fact, for this year’s campaign, he held a high-profile fundraiser in San Francisco for Trump that raised more than $12 million.
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