Zenefits CEO David Sachs speaks at the TechCrunch Disrupt conference in San Francisco, California.
Paul Chen | San Francisco Chronicle | Hearst Newspapers via Getty Images
Venture investor and podcast host David Sachs will join the Trump administration as the “White House AI and cryptocurrency czar,” President-elect Donald Trump announced on Truth Social on Thursday.
Trump wrote that Sachs will guide the administration's policies regarding artificial intelligence and cryptocurrencies. Some of this work includes creating a legal framework for cryptocurrencies, 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 added: “It will protect freedom of expression on the Internet, and distance us from bias and censorship in big tech companies.”
The appointment signals that the second Trump administration is rewarding figures in Silicon Valley who supported his campaign. It also indicates that the administration will push for policies that crypto entrepreneurs generally support.
Sachs became a major Trump supporter earlier this year, hosting a fundraiser for the then-Republican candidate at his San Francisco mansion. Tickets sold for $50,000 per person, with the $300,000 category including perks like a photo with Trump.
It was a stark change in tone for Sachs, who had harshly criticized Trump after the Capitol riot on January 6, 2021. Sachs said on an episode of his podcast shortly after that Trump was “clearly” responsible for the events. on January 6, and that he “excluded himself from running at the national level.”
In July, Sachs spoke at the Republican National Convention in Milwaukee.
Sachs is a venture capitalist and entrepreneur who sold Yammer to Microsoft for $1.2 billion in 2012. He also belongs to the “PayPal Mafia,” an unofficial club of prominent tech figures and investors, including Elon Musk and Peter Thiel, who have worked In PayPal. In the 1990s.
In recent years, Sacks has become known for hosting the All-In podcast alongside fellow investors Chamath Palihapitiya, Jason Calacanis, and David Friedberg. In his post, Trump described it as “the best podcast in technology, where he and his friends discuss economic, political and social issues.”
