Businessman David Sachs said in an interview with Bloomberg that his time as the “czar” of artificial intelligence and cryptocurrencies in the Donald Trump administration is over.
He said he resigned from his post after completing his 130-day term as a special civil servant. He said he will continue to serve in the administration as co-chair of the President’s Council on Science and Technology (PCAST), along with Michael Kratsios.
Sachs is a venture capitalist who made his mark in the technology industry as the chief operating officer of PayPal, a company co-founded in the late 1990s by billionaire entrepreneur Elon Musk and investor Peter Thiel. After PayPal was sold to eBay, Sachs left the company.
In 2017, Sachs founded the venture capital firm Craft Ventures, which he currently heads. He has invested in major technology companies for nearly two decades. His most notable investments include Uber, Facebook, Airbnb, Reddit, X, and SpaceX.