Silicon Valley's Man in the White House: David Sacks Writes Policy, Cashes the Checks
David Sacks—Trump's AI and crypto czar, venture capitalist, and podcast host—has turned his White House role into the ultimate conflict-of-interest masterclass. As a "special government employee," Sacks gets to influence tech policy while simultaneously working at his VC firm, Craft Ventures.
His financial disclosures reveal 708 tech investments, including at least 449 stakes in AI companies that stand to benefit from the policies he's drafting. And thanks to two White House ethics waivers, he's allowed to keep most of them.
The July AI Summit: Access for Sale
In July, Sacks convened top government officials and Silicon Valley execs for an "AI Action Plan" summit featuring Trump. Behind the scenes, Sacks's "All-In" podcast—which he co-hosts with fellow investors—pitched potential sponsors $1 million each for access to a private reception "bringing together President Donald Trump and leading AI innovators." The plan so alarmed White House Chief of Staff Susie Wiles that she intervened to prevent "All-In" from serving as sole host. Trump signed executive orders fast-tracking the AI industry; nearly everyone in the audience—including Sacks—stood to profit.
Nvidia's Best Friend in Washington
Sacks forged a tight bond with Nvidia CEO Jensen Huang this spring, echoing Huang's argument that flooding the world with American chips would outpace China. Sacks worked to eliminate Biden-era export restrictions and flew to the UAE in May to strike a deal sending 500,000 American AI chips—mostly Nvidia's—to the Emirates.
The move alarmed White House officials who feared China would gain access. Analysts estimate Nvidia could make up to $200 billion from the deal. Sacks insists none of his holdings benefited—but his ethics filings don't disclose the value of his remaining stakes, making it impossible to verify.
Ethics Waivers and Omitted Details
Sacks's March waivers state he sold "most" of his crypto and AI assets, and his remaining investments are "not so substantial" to influence his government service. But his filings classify 438 of his tech investments as "software or hardware companies"—even though the firms promote themselves as AI enterprises, offer AI services, or have "AI" in their names.
The filings also don't disclose when he sold divested assets, leaving the public in the dark about whether his government role has netted him profits. Steve Bannon calls him the poster child for "the tech bros out of control."
#sacks #trump #ai #conflictsofinterest #nvidia #whiteHouse #siliconvalley #oligarchy
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David Sacks—Trump's AI and crypto czar, venture capitalist, and podcast host—has turned his White House role into the ultimate conflict-of-interest masterclass. As a "special government employee," Sacks gets to influence tech policy while simultaneously working at his VC firm, Craft Ventures.
His financial disclosures reveal 708 tech investments, including at least 449 stakes in AI companies that stand to benefit from the policies he's drafting. And thanks to two White House ethics waivers, he's allowed to keep most of them.
The July AI Summit: Access for Sale
In July, Sacks convened top government officials and Silicon Valley execs for an "AI Action Plan" summit featuring Trump. Behind the scenes, Sacks's "All-In" podcast—which he co-hosts with fellow investors—pitched potential sponsors $1 million each for access to a private reception "bringing together President Donald Trump and leading AI innovators." The plan so alarmed White House Chief of Staff Susie Wiles that she intervened to prevent "All-In" from serving as sole host. Trump signed executive orders fast-tracking the AI industry; nearly everyone in the audience—including Sacks—stood to profit.
Nvidia's Best Friend in Washington
Sacks forged a tight bond with Nvidia CEO Jensen Huang this spring, echoing Huang's argument that flooding the world with American chips would outpace China. Sacks worked to eliminate Biden-era export restrictions and flew to the UAE in May to strike a deal sending 500,000 American AI chips—mostly Nvidia's—to the Emirates.
The move alarmed White House officials who feared China would gain access. Analysts estimate Nvidia could make up to $200 billion from the deal. Sacks insists none of his holdings benefited—but his ethics filings don't disclose the value of his remaining stakes, making it impossible to verify.
Ethics Waivers and Omitted Details
Sacks's March waivers state he sold "most" of his crypto and AI assets, and his remaining investments are "not so substantial" to influence his government service. But his filings classify 438 of his tech investments as "software or hardware companies"—even though the firms promote themselves as AI enterprises, offer AI services, or have "AI" in their names.
The filings also don't disclose when he sold divested assets, leaving the public in the dark about whether his government role has netted him profits. Steve Bannon calls him the poster child for "the tech bros out of control."
#sacks #trump #ai #conflictsofinterest #nvidia #whiteHouse #siliconvalley #oligarchy
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