According to BlockBeats, on December 21, AI and crypto czar David Sacks stated on social media regarding reports: "Some traditional media reported tonight that my role has changed, which is completely false. I expect to spend half my time in Washington guiding policy and the other half in Silicon Valley."
According to previous reports, insiders from the transition team revealed to Fortune that last week the position was downgraded from a leadership role to a general advisory role, partly because Sacks was unwilling to leave the investment firm Craft Ventures and did not want to go through the formal appointment process. In the future, Michael Kratsios will lead technological policy work, with Sacks providing policy ideas. Despite the position change, Sacks remains influential, often active in Florida and San Francisco, and meeting with lawmakers. His appointment has sparked conflicts of interest controversies, but some in Silicon Valley are optimistic, believing it may help startups, although there are concerns about his expertise and worries about policy direction.