David Sacks appointed as Trump's crypto and AI czar, boosting Silicon Valley's influence

David Sacks, a venture capitalist and member of the 'PayPal Mafia,' has been appointed as President-elect Donald Trump's crypto and AI czar. This role strengthens Silicon Valley's influence in the administration, allowing Sacks to guide deregulation in the crypto industry. Sacks has a history with tech leaders like Elon Musk and Peter Thiel. He co-founded the workplace communications company Yammer, which was sold to Microsoft, and has invested in various tech ventures. His political alignment has shifted towards Trump, culminating in a fundraiser that raised over $12 million. In his new position, Sacks will lead a council on science and technology, connecting industry leaders with the White House. He will not need to divest his assets or undergo confirmation hearings, allowing him to maintain his role at Craft Ventures while serving in the administration.