Trump 2.0: Who is David Sacks, the former PayPal COO appointed as White House AI and crypto czar?
David Sacks is the second member of the PayPal Mafia to become a part of Trump 2.0, with the other being Elon Musk, who has been tasked with co-leading DOGE. The 52-year-old entrepreneur is also the co-founder of Craft Ventures, a venture capital fund.
US President-elect Donald Trump has appointed venture capitalist and former COO of PayPal, David O. Sacks, as the new White House AI and crypto czar. According to Trump, in this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness.
CREDIT: CRYPTO NEWS
Who is David Sacks
The 52-year-old entrepreneur is the co-founder of Craft Ventures, a venture capital fund, and the founder and CEO of Yammer, which was later acquired by Microsoft.
However, his most notable stint in the tech industry was in the 1990s when he joined Confinity, which later founded PayPal. At PayPal, Sacks rose through the ranks and was made the COO.
Second PayPal mafia member in Trump 2.0
He is also one of the members of the PayPal Mafia, which refers to founders and early employees of PayPal who went on to establish successful tech companies of their own.
CREDIT: REUTERS
Sacks is the second member of the PayPal Mafia to become a part of Trump 2.0, with the other being Elon Musk, who has been tasked with co-leading DOGE.
Elon Musk and David Sacks
That is not the only similarity Sacks and Musk share. Like Musk, Sacks is also South African-born and later immigrated to the US. He is also a Trump supporter and, like Musk, hosted a fundraiser for him. Tickets for the fundraiser at his San Francisco mansion were sold for $50,000 per person, and those willing to shell out $300,000 were offered additional perks, including a photo with Trump.
CREDIT: AXIOS
What will Sacks do
According to Trump, Sacks will be in charge of creating a legal framework for crypto, as well as leading a presidential council of advisors on science and technology.
¡°David will focus on making America the clear global leader in both areas,¡± Trump wrote. ¡°He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship,¡± Trump stated.
For more news and current affairs from around the world, please visit Indiatimes News.
Bobins Abraham is the Assistant News Editor at Indiatimes. He has more than twelve years of experience in TV and digital journalism. An avid student of history and geopolitics, he is a conservationist and environmentalist at heart. He writes on environment, sustainability, human-animal conflict and more.
Read More