In a 2017 interview, Sacks expressed his belief in cryptocurrencies like Bitcoin and Ethereum, stating that they fulfill the "original vision" of PayPal by creating a "database of money" where payments never leave the system. His views on AI and AI policymaking are less clear, but his right-leaning and deregulatory policies suggest a lighter approach than the outgoing Biden administration.
Key takeaways:
- Donald Trump, the incoming President, has appointed ex-PayPal COO David Sacks as the new crypto and AI 'czar'.
- Sacks will work on a legal framework for the Crypto industry to provide clarity and enable it to thrive in the US.
- David Sacks is a co-founder of Yammer and Craft Ventures, and has backed startups including SpaceX, Reddit, and ClickUp.
- Sacks believes that cryptocurrencies like Bitcoin and Ethereum fulfill the 'original vision' of PayPal, creating a 'database of money' where payments never leave the system.