"SF's own right-wing VC billionaire David Sacks was named the Trump administration's AI and Crypto Czar' last year, and a New York Times analysis says that since then, his investments have hit the jackpot over policies he helped craft. Big-bucks Silicon Valley investor David Sacks first registered on our radar when he was largely bankrolling the Chesa Bouin recall himself back in 2021, and spent much of 2022 hyping Kremlin propaganda that Ukraine should surrender to Russia."
"Sacks made his fortune as one of the Payal Mafia guys with Peter Thiel and Elon Musk in the early 2000s, though became more prominent as the co-host of a tech bro podcast called All In. But funny, these All In podcast guys certainly weren't All In when they were begging the Biden administration for a Silicon Valley Bank bailout, instead just bitching and moaning for the government to handle the bailout despite how these assholes had several spare billions of dollars laying around."
"A small non-profit school far from Silicon Valley reached out to tell me that they are an SVB customer. Though Sacks gained outsize influence in MAGA circles after he threw a $12 million Trump fundraiser in his SF mansion in the lead-up to the 2024 election, and then was named Trump's AI and Crypto Czar after Trump won the election."
David Sacks served as the Trump administration's AI and crypto czar and used that role to shape policies that advantaged his investments and Silicon Valley associates. He amassed wealth as an early PayPal-affiliated entrepreneur and increased public influence through the All In podcast. He backed political efforts such as the 2021 Chesa Boudin recall and promoted pro-Russian narratives in 2022. He and fellow tech figures pushed for a Silicon Valley Bank bailout while criticizing government intervention when convenient. A nonprofit SVB customer reported that access to deposits prevented teacher layoffs. He hosted a $12 million Trump fundraiser and leveraged political access into a policy-making role.
Read at sfist.com
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