America’s emerging crypto/AI czar has a long history of regulatory skepticism and a lack of industry expertise.
According to some people, report Bloomberg News Friday (December 6) examines President-elect Donald Trump’s pick of David Sachs to help shape the administration’s artificial intelligence (AI) and crypto policy.
The report said Mr. Sachs has no deep ties to any of the industries or a long history of investing in them.
But for tech investors, Mr. Sachs brings something more important: a pro-technology stance and a long track record of skepticism of government regulation, the report said.
“He will ensure America is at the forefront of innovation.” Keith Lavoie of Khosla VenturesHe argued that Sachs will prevent the U.S. from following in China’s footsteps and “protect emerging technology companies from left-wing censorship and bias.”
Although Sachs is an investor in Elon Musk’s xAI, he has only made small bets on cryptocurrencies and AI, according to the report. As the founder of venture capital firm Craft Ventures, as well as Musk and Lavoie. The so-called “PayPal Mafia” -He has become one of the VC industry’s “loudest right-leaning voices,” Bloomberg wrote.
Both AI and crypto executives see government intervention as a threat and have ties to multiple crypto companies, the report added. moving abroad To avoid regulatory oversight.
“Cryptography and AI are two of the most pressing strategic priorities for the United States right now, and David Sachs is one of the only people in the world to do so.” In other words He is uniquely qualified to lead this vital role,” said Kyle Samani, managing partner at Multicoin Capital, where Sachs is an investor. Samani added that Sach will be a “valuable asset in shaping the future of the country.”
As I said here last month, President Trump said he would reverse President Joe Biden’s policies. Comprehensive AI Executive Order The rule was issued last year, arguing it would stifle innovation.
President Trump received limited attention to AI during his first term, but in 2019 he issued his first executive order addressing the technology, requiring federal agencies to make AI research and development a priority.
The new government’s AI Emperor Sachs, infrastructure To support technology.
PYMNTS said in November that “overseas markets are moving rapidly to build out power systems for next-generation computing facilities, but the long timeline for U.S. utilities to install new power capacity is a multi-billion dollar It has the potential to redirect dollar technology investments overseas and reshape the global AI landscape.”
