“David will focus on making America the clear global leader in both areas,” Trump wrote in a post on Truth Social on Thursday night. “He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.”
Sacks, who will also lead the Presidential Council of Advisors for Science and Technology, has been a key voice of support for Trump in Silicon Valley.
He got his start in the tech world in 1999 at PayPal, where he became chief operating officer. He and several of the other early members of the company would go on to found other successful tech firms, leading to their nickname — the “PayPal mafia.”
This group includes former PayPal CEO Peter Thiel, LinkedIn co-founder Reid Hoffman, Yelp co-founder Jeremy Stoppelman and, most notably, billionaire tech mogul and close Trump ally Elon Musk.
After leaving PayPal, Sacks founded Yammer, an enterprise social networking platform that was acquired by Microsoft for $1.2 billion in 2012. He launched his venture capital firm Craft Ventures in 2017.
Sacks’ appointment as AI and crypto czar Thursday was met with excitement from his fellow Silicon Valley conservatives — a small but growing contingent in an industry once considered a solid backer of the Democratic Party.
“Thrilled to see @DavidSacks serve as AI & Crypto Czar,” Palantir adviser Jacob Helberg wrote on X.
Helberg, once a prominent Democratic donor who gave to President Biden, Vice President Harris and Transportation Secretary Pete Buttigieg, gave at least $2 million to Trump this cycle.
“Few people blend a deep understanding of technology with operational experience,” he added. “He will be an asset to the administration and his selection reflects the @realDonaldTrump’s unique ability to attract top talent to government.”
Sacks’ nod also received widespread support from the crypto industry, which has been jubilant about the president-elect’s crypto-friendly Cabinet picks so far.
“David Sacks’ unparalleled track record as an entrepreneur, investor, and innovator makes him uniquely suited to lead U.S. crypto policy at a pivotal moment in the industry’s evolution,” Blockchain Association CEO Kristin Smith said in a statement.
Read more in a full report at TheHill.com.
