David Sacks on AI: “So Maria, there’s an AI boom going on right now. I think that the most important thing the government can do, actually, is support AI infrastructure. We need huge new power generation so we need more electricity to support these data centers. We need to make permitting easier, and the Trump administration is committed to doing that. So, I think that’s supporting… that the most important thing that the government can do is support the growth of the underlying infrastructure and then also make it easier for foreign companies or foreign sovereigns to invest in the United States. Sometimes the CFIUS regulations get in the way of that, and we need to make it much easier for investment to happen in the United States. And I think the Treasury Department is working on that as well.”
Maria: “Yeah, I mean, it’s really incredible what’s going on right now, whether it’s stablecoin or AI or just the development of digital assets. The other day, Jeremy Allaire from Circle said to me that he thinks that we are at an ‘iPhone moment,’ if you will. Do you agree with that?”
David: “Absolutely. I mean, what you’re seeing is that the adoption of AI applications is the fastest adoption curve we’ve ever seen. I think it’s bigger than the iPhone, it’s bigger than the internet itself, potentially. This technology is being adopted very, very fast by consumers and businesses, and I think it’s going to fuel the growth of the American economy for years to come. I think we can get back to those 4–5% growth rates with AI as a tailwind. Again, it’s facilitating major investment and major innovation. And I think that President Trump has already helped facilitate this. He rescinded that 100-page Biden executive order on AI, which burdened AI companies with unnecessary regulation. Like I mentioned, we rescinded that 200-page Biden diffusion rule, which burdened our semiconductor companies and data center companies with unnecessary regulation. The President made that trip to the Middle East to facilitate foreign investment in the US. So, President Trump here, I think, is leading and he’s driving the growth and the innovation. And it’s a very different approach than we saw with the Biden administration. The Biden administration really was motivated and proceeded from a position of fear—it was ‘how can the government restrict this, this thing is so risky that we need to control it,’ whereas I think that the Trump administration is proceeding from a position of opportunity, which is how do we take advantage of this technology, how do we drive the growth, how do we drive the investment. And I think that thanks to President Trump, you are seeing this boom that’s already started, and like I mentioned, I think it will ultimately be one of the most important parts of his legacy.”