Trump Appoints David "Mr. Big Sacks" to Lead as Crypto and AI Czar (It's About to Get Messy)...

Annnnd just like that, 2024 continues to be the gift that keeps on giving to all the crypto mouth breathers. ICYMI, David Sacks just got tapped to steer the tech and crypto ship for Trump’s second act. The venture capitalist and PayPal mafia alum is now officially the “White House A.I. & Crypto Czar,” a title that sounds more like a Silicon Valley fever dream than a White House role. But make no mistake—this isn’t just a vanity appointment. Sacks is about to flip the script on tech policy, and whether you love it or hate it, things are about to get friggin messy, baby. (The good kind of messy if you smell what I’m steppin’ in).

(Source: Giphy) 

In short, Trump dropped the announcement Thursday on Truth Social, calling Sacks the guy to “make America the clear global leader” in artificial intelligence and crypto. His mission? Build a legal framework for the chaotic crypto industry, dominate the global AI race, and somehow keep Big Tech in check by safeguarding “Free Speech online.” In addition, Mr. Big Sacks will also reign as chair of the Presidential Council of Advisors for Science and Technology (whatever the hell that means). 

But, but, but… keep in mind, Sacks isn’t just some random tech bro getting a government gig. This guy has receipts. He co-founded Yammer, flipped it to Microsoft for $1.2 billion, and cemented his place in tech lore as part of the PayPal mafia alongside Elon Musk and Peter Thiel. More recently, he’s been a fixture on the “All-In” podcast, where he and his fellow VCs riff on everything from crypto to geopolitics. Meaning again, whether you love him or loathe him, Sacks knows how to move the needle.

(Source: CNBC) 

What’s actually funny about this whole thing is that  Sacks once roasted Trump after January 6, labeling him “clearly responsible” for the Capitol riot and claiming he’d “disqualified himself” as a national candidate. Fast forward to 2024, and Sacks is hosting a $50,000-a-head fundraiser for Trump at his San Francisco mansion. By the way, if you had $300,000 to burn, you got a photo op with the man himself. Talk about a plot twist. 

So, why the 180? Simple: Sacks sees Trump as the guy to push the pro-business, pro-crypto agenda he’s been dreaming of. He’s been loudly critical of Biden’s economic policies, border control, and, let’s face it, anything remotely regulatory. With Trump, Sacks gets a shot at turning his tech libertarian fantasies into actual policy.

(Source: USA Today) 

And it’s already starting. Like mentioned in a previous article, Trump just nominated crypto ally Paul Atkins to chair the SEC, signaling a full pivot to deregulation and tech-friendly policies. So now, between Atkins and Sacks, the administration is putting a massive “open for business” sign on the crypto and AI industries. Translation: Silicon Valley’s money makers are about to have a field day.

Of course, given all the hype, it doesn’t go without it’s nice dose of hatorade from critics. Some are already side-eyeing Sacks’ PayPal mafia ties, arguing that his policies might serve the tech elite instead of the average American. Which is understandable considering Sacks has spent the last few years laying in the same bed with the same Big Tech players Trump loves to bash. So really, is this all about innovation for Sacks, or is it just another power trip for the Valley Billionaires? 

(Source: Giphy) 

Regardless, one thing’s for sure: Sacks is about to light a fire under the tech and crypto worlds. Whether he’s the hero or the villain depends on where you’re sitting, but either way, it’s going to be a wild ride. So with that, place your bets accordingly friends, and do your due diligence before yeeting your life savings into any sh*t coin (read: -90% sell-off in $HAWK—The Hawk Tuah coin). And as always, stay safe and stay frosty, friends! Until next time… 

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Stocks.News does not hold positions in Microsoft as mentioned in the article.