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 🚨. 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 🤝. 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 🚀. 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 🤔. 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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