David Sacks, a longtime ally of Elon Musk and a prominent venture capitalist, has lost his role as the White House AI and Crypto Czar in the Trump administration šØ. Sacks was initially appointed to lead the Presidential Council of Advisors for Science and Technology, focusing on artificial intelligence and cryptocurrency policy .
However, due to his refusal to fully divest from his investment firm, Craft Ventures, Sacks' role has been reduced to a mere advisory position š¤. This decision raises concerns about potential conflicts of interest, as Sacks will continue to manage his private-sector ties while advising the administration .
Michael Kratsios, Trump's former Chief Technology Officer, has taken over Sacks' responsibilities, handling AI, tech policies, and big decisions š. Kratsios' prior experience makes him a natural fit for the role, and he's expected to drive the administration's tech efforts forward .
Sacks' demotion has sparked mixed reactions, with some critics arguing that his ties to the private sector compromised his ability to lead the administration's AI and crypto efforts š¤. Despite this, Sacks remains a influential figure in the Republican Party and continues to advise the administration on AI and crypto policy .
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