Who is David Sacks? Elon Musk's former PayPal ally turned AI ...

US President-elect Donald Trump announced on Thursday that former PayPal executive

David Sacks

will serve as the White House

Artificial Intelligence

and Crypto Czar in his new administration.Trump made the announcement on his official social media platform, Truth Social, saying:“I am pleased to announce that David O. Sacks will be the White House AI & Crypto Czar. In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness.”

Who is David Sacks?David Sacks, 52, is a prominent entrepreneur, venture capitalist, and technology leader. He is the co-founder of Craft Ventures, a San Francisco-based venture capital firm, and an early executive at PayPal, the payment processing company acquired by eBay in 2002.Sacks is considered part of the "

PayPal Mafia

," a group of former PayPal employees and executives who have achieved significant success in tech and business. This group includes figures like Peter Thiel and Tesla CEO

Elon Musk. Musk has also been appointed by Trump to co-lead the department of government efficiency (DOGE) in his new administration.Born in South Africa, Sacks has an extensive entrepreneurial background. He served as CEO of Zenefits, a software company, and founded Yammer, an enterprise social network acquired by Microsoft for $1.2 billion.Sacks is also well-known as a co-host of the All-In Podcast, a leading technology podcast where he and his colleagues discuss economic, political, and social issues.“David has the knowledge, business experience, intelligence, and pragmatism to MAKE AMERICA GREAT in these two critical technologies. Congratulations, David!” Trump wrote on Truth Social.Advocate for cryptocurrencyA vocal proponent of cryptocurrency, Sacks has described the rise of Bitcoin as a revolutionary moment for the internet. In a 2017 interview with CNBC, he said: "It feels like we are witnessing the birth of a new kind of web. Some people have called it the decentralized web or the internet of money."In his new role under Trump’s administration, Sacks will focus on maintaining the United States' leadership in artificial intelligence and cryptocurrency. He will also work to protect online free speech and address perceived biases and censorship by major tech companies. Additionally, Sacks will oversee a White House advisory council on science and technology, according to Trump.Tiff with MuskElon Musk was removed as PayPal's CEO over 20 years ago by the "PayPal Mafia," according to Walter Isaacson's book 'Elon Musk'. The book explores disagreements over the company's direction following the merger of Musk's X.com with Confinity.Musk clashed with co-founder Max Levchin on fraud prevention measures, particularly Levchin's CAPTCHA tool, which Musk reportedly doubted. The conflict escalated when colleagues questioned Musk's leadership. A study showed that PayPal’s brand was stronger than X.com’s, prompting Musk to attempt removing PayPal branding from the website, according to a Fox Business report.In September 2000, while Musk was on his honeymoon in Australia, investor Peter Thiel, board member Reid Hoffman, and product chief David Sacks worked with others to replace him, according to a Fox Business report. Levchin proposed Thiel as interim CEO, a move supported by the board. Musk was informed of the change via email. Despite cutting his honeymoon short, the board voted to remove him as CEO.Musk told Isaacson: "I was pretty angry at first. I had thoughts of assassination running through my head. But eventually, I realized that it was good I got coup’ed. Otherwise, I’d still be slaving away at PayPal… Of course, if I had stayed, PayPal would be a trillion-dollar company."