David O. Sacks, a well-known figure in the tech and venture capital world, has recently stepped into a powerful new position: AI and Crypto Tsar. Once best known as a member of the original "PayPal Mafia" and the founder of enterprise social network Yammer, Sacks is now playing a key role in shaping U.S. policy on two of the most transformative technologies of our time—artificial intelligence and cryptocurrency.
Born in South Africa and raised in the U.S., Sacks holds degrees from Stanford and the University of Chicago Law School. He first rose to prominence as the Chief Operating Officer at PayPal, where he led product development until the company’s acquisition by eBay. Afterward, he launched and sold Yammer to Microsoft and went on to co-found Craft Ventures, a firm that has invested in a number of top-tier tech companies.
In his new government role, Sacks is charged with developing a clear legal and regulatory framework for cryptocurrency, something the industry has long requested. He is also expected to help guide national strategy on artificial intelligence, balancing innovation with security and ethical considerations.
Known for his sharp strategic mind and deep ties to Silicon Valley, Sacks brings a pro-technology, business-friendly perspective to his post. Supporters hope he will provide much-needed clarity and momentum to both sectors, while critics urge transparency given his ongoing connections to the tech world.
