PAC-10-BEAR said:
"Conflicts of Interest as a White House Advisor
Sacks, a "special government employee" (SGE) who serves as an advisor on artificial intelligence (AI) and cryptocurrency to President Trump, has faced intense scrutiny and criticism over potential conflicts of interest.
Extensive Investments: Critics point out that Sacks and his firm, Craft Ventures, retain investments in over 400 tech firms, many with ties to the AI and crypto sectors he is advising on, despite divesting from some major holdings like Amazon, Meta, and xAI.
Ethics Waivers: The controversy centers on ethics waivers that critics, such as government ethics expert Kathleen Clark, characterize as "sham ethics waivers" that grant him "carte blanche" to shape policy in ways that could benefit his financial interests. Sacks has stated that the Office of Government Ethics (OGE) approved his waivers and that serving in the White House has cost him money.
Influencing Regulation: Sacks helped shape a controversial executive order that aims to preempt state-level AI regulations deemed "onerous" to the industry, which some argue benefits the large tech firms he is invested in.
SVB Bailout Stance: Concerns about a potential taxpayer bailout for the tech industry if the AI "bubble" bursts are amplified by Sacks' past advocacy for urgent government action during the Silicon Valley Bank (SVB) collapse."
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