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Indianapolis Colts at New York Giants odds, picks and predictionsBy Stephanie Lai and Hadriana Lowenkron, Bloomberg News Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures LLC to serve as his artificial intelligence and crypto czar, a newly created position that underscores the president-elect’s intent to boost two rapidly developing industries. “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas,” Trump said Thursday in a post on his Truth Social network. Trump said that Sacks would also lead the Presidential Council of Advisors for Science and Technology. In Sacks, Trump is tapping one of his most prominent Silicon Valley supporters and fundraisers for a prime position in his administration. Sacks played a key role in bolstering Trump’s fundraising among technology industry donors, including co-hosting an event at his San Francisco home in June, with tickets at $300,000 a head. He is also closely associated with Vice President-elect JD Vance, the investor-turned-Ohio senator. Sacks is a venture capitalist and part of Silicon Valley’s “PayPal Mafia.” He first made his name in the technology industry during a stint as the chief operating officer of PayPal, the payments company whose founders in the late 1990s included billionaire entrepreneur Elon Musk and investor Peter Thiel. After it was sold to eBay, Sacks turned to Hollywood, where he produced the 2005 satire Thank You for Smoking. Back in Silicon Valley, he founded workplace communications company Yammer, which was bought by Microsoft Corp. in 2012 for $1.2 billion. He founded his own venture capital firm, Craft Ventures, in 2017 and has invested in Musk-owned businesses, including SpaceX. Sacks said on a recent episode of his All-In podcast that a “key man” clause in the agreements of his venture firm’s legal documents would likely prevent him from taking a full-time position, but he might consider an advisory role in the new administration. A Craft spokeswoman said Sacks would not be leaving Craft. In his post, Trump said Sacks “will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.” Protecting free speech is a keen interest of Sacks. He regularly speaks about “woke” interests that try to muzzle unpopular opinions and positions. The new post is expected to help spearhead the crypto industry deregulation Trump promised on the campaign trail. The role is expected to provide cryptocurrency advocates a direct line to the White House and serve as a liaison between Trump, Congress and the federal agencies that interface with digital assets, including the Securities and Exchange Commission and the Commodity Futures Trading Commission. Trump heavily campaigned on supporting crypto, after previously disparaging digital assets during his first White House term, saying their “value is highly volatile and based on thin air.” The president-elect on Thursday said Sacks would “work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.” During the campaign, Trump spoke at a Bitcoin conference, accepted crypto campaign donations and met with executives from Bitcoin mining companies and crypto exchanges multiple times. Trump’s desire to give priority to the digital asset industry is also reflected in his close allies and cabinet selections, including his Commerce secretary pick, Howard Lutnick, and Treasury secretary nominee Scott Bessent. On the AI front, Sacks would help Trump put his imprint on an emerging technology whose popular use has exploded in recent years. Sacks is poised to be at the front lines in determining how the federal government both adopts AI and regulates its use as advances in the technology and adoption by consumers pose a wide array of benefits as well as risks touching on national security, privacy, jobs and other areas. The president-elect has expressed both awe at the power of AI technology as well as concern over the potential harms from its use. During his first term, he signed executive orders that sought to maintain US leadership in the field and directed the federal government to prioritize AI in research and development spending. As AI has become more mainstream in recent years and with Congress slow to act, President Joe Biden has sought to fill that void. Biden signed an executive order in 2023 that establishes security and privacy protections and requires developers to safety-test new models, casting the sweeping regulatory order as necessary to safeguard consumers. A number of technology giants have also agreed to adopt a set of voluntary safeguards which call for them to test AI systems for discriminatory tendencies or security flaws and to share those results. Trump has vowed to repeal Biden’s order. The Republican Party’s 2024 platform dismissed Biden’s executive order as one that “hinders AI Innovation, and imposes Radical Leftwing ideas on the development of this technology.” Sacks can be expected to work closely with Musk, the world’s richest person and one of the president-elect’s most prominent supporters. Musk is also a player in the AI space with his company xAI and a chatbot named Grok — efforts which pit him against Silicon Valley’s giants — and he stands to wield significant influence within the incoming administration. The appointment won’t require Sacks to divest or publicly disclose his assets. Like Musk, Sacks will be a special government employee. He can serve a maximum of 130 days per year, with or without compensation. However, conflict of interest rules apply to special government employees, meaning Sacks will have to recuse himself from matters that could impact his holdings. Sacks’s Craft Ventures is known more for enterprise software investing than for crypto, but it has made a few crypto investments, including BitGo and Bitwise. Still, Sacks has firm opinions on the sector. Speaking last month on All-In, Sacks praised a bill on crypto regulation that had passed in the U.S. House but not the Senate earlier this year. The Financial Innovation and Technology for the 21st Century Act would regulate certain types of digital assets as a commodity, regulated by the Commodity Futures Trading Commission. “The crypto industry basically wants a really clear line for knowing when they’re a commodity and they want commodities to be governed, like all other commodities, by the CFTC,” he said on the November podcast. He also disparaged some of the Securities and Exchange Commission’s positions on crypto under its chair, Gary Gensler. “The days of Gensler terrifying crypto companies,” he said. “Those days are about to be over.” Earlier this week, Trump nominated crypto advocate Paul Atkins to lead the SEC. With assistance from Zoe Ma, Bill Allison, Sarah McBride, Anne VanderMey and stacy-marie ishmael. ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.
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Trump names David Sacks as White House AI and crypto czar
Trump offers a public show of support for Pete Hegseth, his embattled nominee to lead the PentagonOmg! Real reason why US embassy in Nigeria announces closure of office towards the end of 2024As Ghana approaches its crucial December 7, 2024, general elections, Dr. Mahamudu Bawumia, the presidential candidate for the ruling New Patriotic Party (NPP), has called on voters to reflect on who is best suited to lead the country into the future. Addressing a large crowd at the NPP’s final campaign rally, Bawumia posed a series of questions aimed at distinguishing himself from his rival, former President John Mahama. He asked, “Who can better unite this country? Who can bring innovative ideas to propel Ghana into the Fourth Industrial Revolution? Who has the integrity to fight corruption? Who can continue the Free Senior High School initiative?” Bawumia, who has positioned himself as the candidate of progress, emphasized his vision of a united Ghana driven by innovation and compassion for the vulnerable. He portrayed Mahama as a figure of the past, urging voters to look to the future. With nearly 18.8 million registered voters, Ghana’s election is seen as a pivotal moment for the nation, known for its stable democratic transitions. President Akufo-Addo, who has reached his constitutional term limits, is ineligible for re-election, marking the first presidential election in two decades without his candidacy. As the country heads to the polls, both local and international observers will be watching closely for a peaceful and transparent election.
It’s an abiding promise of newly elected American presidents: The executive branch henceforth will be liberated from the perils of waste, fraud and abuse. President-elect Donald Trump, in his contribution to the canon, has announced he’ll create the Department of Government Efficiency, led by tech impresarios Elon Musk and Vivek Ramaswamy. The aim, Trump says, is to “dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.” There’s reason to be skeptical about Trump’s ambitions for this body. And many previous efforts along these lines – from the Truman Committee to Al Gore’s “reinventing government” initiative – have failed to tame the federal leviathan. But the goal of getting taxpayers better value for their money remains eminently desirable. As a start, any effort of this kind requires setting achievable goals – and Musk and Ramaswamy have already emphasized a good one. They want to get federal workers back to the office. Long after the pandemic, government buildings are still conspicuously underpopulated. In his 2022 State of the Union address, President Joe Biden called on federal workers to return to their offices, and his administration has periodically urged people back to their desks, but with little apparent effect. A recent report on telework arrangements at four agencies found that one (the Veterans Benefits Administration) has failed to collect the data it needs to manage the system effectively, and that the other three (the Farm Service Agency, the Internal Revenue Service and U.S. Citizenship and Immigration Services) haven’t evaluated telework’s effects on performance. There’s little here to allay taxpayers’ suspicions that absence from the office means less work being done. What taxpayers should expect from public services would, more generally, be a good focus for DOGE’s efforts. The client-facing aspects of the U.S. government badly need attention. Whether it’s filing taxes, claiming benefits, buying savings bonds from TreasuryDirect, securing licenses and permissions, or dealing with regulators with overlapping jurisdictions, effective customer service rarely seems to be a priority. Entrepreneurs like Musk and Ramaswamy don’t need to be told why this matters. As important as this mission is, however, voters should be realistic. Musk once said he aimed to cut “at least $2 trillion” from Biden’s proposed $6.5 trillion-a-year budget. On the face of it, such a claim isn’t credible: It would mean cutting all spending, including defense, Medicare and Social Security, by a third. Trump has already promised to protect the main entitlement programs. Regardless of who’s in charge, even modest cuts in such spending are politically perilous. The savings from thinning the federal workforce, as Musk and Ramaswamy have advocated, are trivial when set against the biggest outlays. Another concern is that both men may have conflicts of interest and, as outside advisers, may not be subject to normal disclosure rules. For their effort to work, they’ll need to be forthright with the public about their financial involvements. Ideally, DOGE would aim to strengthen and broaden the audit powers that currently reside with the Government Accountability Office (which advises Congress) and the Office of Management and Budget (a branch of the White House). To the general public, these existing functions are all but invisible and lack teeth: Too often, reports are issued and little if anything happens. DOGE could improve this oversight by publicizing opportunities to make government work better – by highlighting the real waste, duplication, underperformance and poor customer service that the existing audit systems let slide, as well as recommending changes. Set up that way, DOGE can promote accountability as well as transparency. But to succeed, its leaders will need to know what they’re talking about and command credibility with taxpayers. Musk and Ramaswamy should be commended for their ambition. They should also remember that fixing the government is an incredibly arduous task – and making ridiculous promises doesn’t help. Bloomberg Editorial Board publishes the views of the editors across a range of national and global affairs.Illinois Boys High School Basketball Poll
Trump offers a public show of support for Pete Hegseth, his embattled nominee to lead the PentagonTrump offers a public show of support for Pete Hegseth, his embattled nominee to lead the PentagonThe Australian government is to blame for a firebombing attack on a Melbourne synagogue according to Israel's prime minister, as the hunt continues for two suspected arsonists. or signup to continue reading The Adass Israel synagogue at Ripponlea in the city's southeast was badly damaged after suspected masked intruders allegedly broke in and set it alight in the early hours of Friday. Two of its three buildings were gutted and two congregants who were inside at the time preparing for morning prayers were evacuated, one suffering minor injuries. Israel's Prime Minister Benjamin Netanyahu denounced the fire as an "abhorrent act of antisemitism" and said he expected authorities "to use their full weight" to prevent future attacks. Mr Netanyahu hit out at the government's support for a UN resolution calling for an end to Israel's occupation of Gaza and denying a visa to Israel's former justice minister Ayelet Shaked in recent weeks. "Unfortunately, it is impossible to separate this reprehensible act from the extreme anti-Israeli position of the Labor government in Australia," he posted on X, formerly Twitter. "Including the scandalous decision to support the UN resolution calling on Israel "to bring an end to its unlawful presence in the Occupied Palestinian Territory, as rapidly as possible", and preventing a former Israeli minister from entering the country. "Anti-Israel sentiment is antisemitism." Ms Shaked was barred from entering Australia for a speaking tour on the grounds she could "seriously undermine social cohesion", according to Immigration Minister Tony Burke, who cited her past public comments about Palestinians. On Friday, Victoria Police Detective Inspector Chris Murray said the fire was believed to be targeted and investigators have not yet ruled out terrorism as a motive. The suspects had poured accelerant on the floor inside the synagogue and set it on fire before fleeing when they were disturbed by a congregant, police said. Yumi Friedman, founder of Yumi's dips, was one of those inside the building and described hearing a "big bang on the door with a sledgehammer" before fleeing to call police, only to return to find the building fully alight. The attack on a place of worship, which was built by Holocaust survivors, has led to a heightened sense of fear in the community, Executive Council of Australian Jewry president Daniel Aghion said. But he urged Jewish community members not to "hide away" from public view in the wake of the arson. Victorian Premier Jacinta Allan confirmed increased police patrols to bolster safety into the coming week and pledged $100,000 towards rebuilding. Politicians and religious leaders unanimously condemned the anti-Semitic arson attack, with Prime Minister Anthony Albanese offering to send in the Australian Federal Police to help with the Victoria Police investigation. DAILY Today's top stories curated by our news team. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily! Advertisement Advertisement
By Stephanie Lai and Hadriana Lowenkron, Bloomberg News Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures LLC to serve as his artificial intelligence and crypto czar, a newly created position that underscores the president-elect’s intent to boost two rapidly developing industries. “David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas,” Trump said Thursday in a post on his Truth Social network. Trump said that Sacks would also lead the Presidential Council of Advisors for Science and Technology. In Sacks, Trump is tapping one of his most prominent Silicon Valley supporters and fundraisers for a prime position in his administration. Sacks played a key role in bolstering Trump’s fundraising among technology industry donors, including co-hosting an event at his San Francisco home in June, with tickets at $300,000 a head. He is also closely associated with Vice President-elect JD Vance, the investor-turned-Ohio senator. Sacks is a venture capitalist and part of Silicon Valley’s “PayPal Mafia.” He first made his name in the technology industry during a stint as the chief operating officer of PayPal, the payments company whose founders in the late 1990s included billionaire entrepreneur Elon Musk and investor Peter Thiel. After it was sold to eBay, Sacks turned to Hollywood, where he produced the 2005 satire Thank You for Smoking. Back in Silicon Valley, he founded workplace communications company Yammer, which was bought by Microsoft Corp. in 2012 for $1.2 billion. He founded his own venture capital firm, Craft Ventures, in 2017 and has invested in Musk-owned businesses, including SpaceX. Sacks said on a recent episode of his All-In podcast that a “key man” clause in the agreements of his venture firm’s legal documents would likely prevent him from taking a full-time position, but he might consider an advisory role in the new administration. A Craft spokeswoman said Sacks would not be leaving Craft. In his post, Trump said Sacks “will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.” Protecting free speech is a keen interest of Sacks. He regularly speaks about “woke” interests that try to muzzle unpopular opinions and positions. The new post is expected to help spearhead the crypto industry deregulation Trump promised on the campaign trail. The role is expected to provide cryptocurrency advocates a direct line to the White House and serve as a liaison between Trump, Congress and the federal agencies that interface with digital assets, including the Securities and Exchange Commission and the Commodity Futures Trading Commission. Trump heavily campaigned on supporting crypto, after previously disparaging digital assets during his first White House term, saying their “value is highly volatile and based on thin air.” The president-elect on Thursday said Sacks would “work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.” During the campaign, Trump spoke at a Bitcoin conference, accepted crypto campaign donations and met with executives from Bitcoin mining companies and crypto exchanges multiple times. Trump’s desire to give priority to the digital asset industry is also reflected in his close allies and cabinet selections, including his Commerce secretary pick, Howard Lutnick, and Treasury secretary nominee Scott Bessent. On the AI front, Sacks would help Trump put his imprint on an emerging technology whose popular use has exploded in recent years. Sacks is poised to be at the front lines in determining how the federal government both adopts AI and regulates its use as advances in the technology and adoption by consumers pose a wide array of benefits as well as risks touching on national security, privacy, jobs and other areas. The president-elect has expressed both awe at the power of AI technology as well as concern over the potential harms from its use. During his first term, he signed executive orders that sought to maintain US leadership in the field and directed the federal government to prioritize AI in research and development spending. As AI has become more mainstream in recent years and with Congress slow to act, President Joe Biden has sought to fill that void. Biden signed an executive order in 2023 that establishes security and privacy protections and requires developers to safety-test new models, casting the sweeping regulatory order as necessary to safeguard consumers. A number of technology giants have also agreed to adopt a set of voluntary safeguards which call for them to test AI systems for discriminatory tendencies or security flaws and to share those results. Trump has vowed to repeal Biden’s order. The Republican Party’s 2024 platform dismissed Biden’s executive order as one that “hinders AI Innovation, and imposes Radical Leftwing ideas on the development of this technology.” Sacks can be expected to work closely with Musk, the world’s richest person and one of the president-elect’s most prominent supporters. Musk is also a player in the AI space with his company xAI and a chatbot named Grok — efforts which pit him against Silicon Valley’s giants — and he stands to wield significant influence within the incoming administration. The appointment won’t require Sacks to divest or publicly disclose his assets. Like Musk, Sacks will be a special government employee. He can serve a maximum of 130 days per year, with or without compensation. However, conflict of interest rules apply to special government employees, meaning Sacks will have to recuse himself from matters that could impact his holdings. Sacks’s Craft Ventures is known more for enterprise software investing than for crypto, but it has made a few crypto investments, including BitGo and Bitwise. Still, Sacks has firm opinions on the sector. Speaking last month on All-In, Sacks praised a bill on crypto regulation that had passed in the U.S. House but not the Senate earlier this year. The Financial Innovation and Technology for the 21st Century Act would regulate certain types of digital assets as a commodity, regulated by the Commodity Futures Trading Commission. “The crypto industry basically wants a really clear line for knowing when they’re a commodity and they want commodities to be governed, like all other commodities, by the CFTC,” he said on the November podcast. He also disparaged some of the Securities and Exchange Commission’s positions on crypto under its chair, Gary Gensler. “The days of Gensler terrifying crypto companies,” he said. “Those days are about to be over.” Earlier this week, Trump nominated crypto advocate Paul Atkins to lead the SEC. With assistance from Zoe Ma, Bill Allison, Sarah McBride, Anne VanderMey and stacy-marie ishmael. ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.
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