President-elect Trump named former PayPal Chief Operating Officer David Sacks to be his White House artificial intelligence (AI) and cryptocurrency czar.
"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," Trump said in his announcement Thursday evening. "David will focus on making America the clear global leader in both areas," he said.
"He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship," he said. "He will work on a legal framework, so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S. David will also lead the Presidential Council of Advisors for Science and Technology."
Sacks, a former PayPal executive, has angel investments in several major firms, including Facebook, Uber, SpaceX, Airbnb and Palantir through his Craft Ventures fund.
His enterprise software company, Yammer, was acquired by Microsoft for over $1 billion in 2012.
David Oliver Sacks (born in 1972) is a South African-American entrepreneur, author, and investor in internet technology firms. He is a general partner of Craft Ventures, a venture capital fund he co-founded in late 2017.
Previously, Sacks was the COO and product leader of PayPal, and founder and CEO of Yammer. In 2016, he became interim CEO of Zenefits for ten months. In 2017, Sacks co-founded Craft Ventures, an early-stage venture fund. His angel investments include Facebook, Uber, SpaceX, Palantir Technologies, and Airbnb. In December 2024,
Sacks was born to a Jewish family in Cape Town, South Africa, and emigrated to Tennessee, United States, with his family when he was five. Though Sacks did not know he wanted to become an entrepreneur, he did not want to work a profession like his father, who was an endocrinologist. He says he took inspiration from his grandfather, who started a candy factory in the 1920s.
Sacks attended Memphis University School in Memphis, Tennessee. He earned his Bachelor of Arts in economics from Stanford University in 1994 and a Juris Doctor from the University of Chicago Law School in 1998.
In 1999, Sacks left his job as a management consultant for McKinsey & Company to join Max Levchin, Peter Thiel, and Luke Nosek's e-commerce startup Confinity. Later that year, Sacks was the inaugural product leader of Confinity's milestone product, and corporate successor, PayPal.
https://en.wikipedia.org/wiki/David_O._Sacks
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