By David Sacks
Compiled by: TechFlow
On December 6, Trump announced the appointment of David Sacks, a well-known Silicon Valley investor, as the White House Director of Artificial Intelligence and Cryptocurrency.
This article is a tweet posted by David Sacks on the X platform in June this year.
Interestingly, Musk also expressed his support in the comments section of the tweet.
There is a trace for everything. The following is a full translation.
As many media outlets have reported, tonight I will be hosting a fundraiser for President Donald J. Trump at my home in San Francisco.
In the past few years, I have hosted events for presidential candidates Ron DeSantis, Vivek Ramaswamy, and Robert F. Kennedy, Jr., as well as members of Congress from both parties. I have funded many people but rarely given formal endorsements.
Yet today, I have decided to endorse our 45th President, Donald J. Trump, for reelection as the 47th President. My reasons are based on four issues that are critical to America’s prosperity, security, and stability — issues on which the Biden Administration has strayed significantly off track and on which I believe President Trump can get us back on track.
1. Economy
President Biden took over when the U.S. economy was already recovering strongly from the shock caused by the COVID-19 pandemic in the second quarter of 2020. Demand had rebounded and the job market was recovering. But he chose to continue to boost the economy with additional pandemic stimulus measures - including a nearly $2 trillion plan passed in March 2021, and trillions more for "infrastructure," green energy, and "inflation reduction."
The Biden administration pushed forward with those policies despite early warnings from former Clinton Treasury Secretary Larry Summers that they could lead to inflation, and called it “transitory” when it emerged. Yet inflation remains high even after the fastest cycle of rate hikes in recent memory.
The average American has lost roughly one-fifth of their purchasing power over the past few years due to inflation during the Biden era. In addition, any American who needs a mortgage, auto loan, or credit card debt faces higher interest payments, further eroding their purchasing power.
Our federal government faces the same problem, now having to pay over a trillion dollars a year in interest to service its $34 trillion debt, a number that increases by a trillion dollars every 100 days. This trend is unsustainable, yet Biden’s 2025 budget plans to increase spending even more.
Economic growth has fallen from 3.4% in the last quarter of 2023 to 1.3% in the first quarter of this year. We cannot afford another four years of "Bidennomics."
2. Foreign policy/war in Ukraine
When President Trump left office, ISIS had been defeated, the Abraham Accords had been signed, and no new wars had broken out around the world. Three and a half years later, the world is in turmoil. Some of President Biden’s strategic choices have led to this situation.
In his first year in office, Biden needlessly alienated the Saudis, only to realize they were an indispensable partner in the Middle East, and he presided over a chaotic withdrawal from Afghanistan (the right direction in policy, but extremely poor execution).
However, his missteps on Ukraine were even more serious. His administration immediately pushed for Ukraine to join NATO, despite the disunity among existing NATO members. Predictably, this angered Russia, and the Biden administration relentlessly declared at every juncture that “NATO’s door is open to Ukraine and will remain open.” Biden himself further angered Russia when he refused to accept any “red lines.”
After the invasion, there was still an opportunity to stop the conflict and reduce the loss of life and property in the early stages of the war. Russian and Ukrainian negotiators signed a draft agreement in Istanbul that would have seen Russia withdraw to its pre-invasion borders in exchange for Ukrainian neutrality. But the Biden administration rejected the agreement and did not adopt General Milley's suggestion in November 2022 to seek a diplomatic solution.
As the war drags on, Ukrainians face mounting casualties and damage to infrastructure. Yet President Biden continues to allow the conflict to escalate, risking World War III. Every escalation that Biden initially resisted—including Abrams tanks, F-16s, ATACMs, and allowing Ukraine to strike Russian targets—he eventually relented. Only one step remains: NATO forces engaging Russia directly on the ground. And our European allies, like Emmanuel Macron, are already expecting this to happen.
Under Biden, our options are limited to continuing the proxy war to the last Ukrainian, or fighting Russia ourselves. President Trump has said he wants to end the bloodshed in Ukraine and will negotiate to do so. While Ukraine can no longer get the deal we persuaded it to abandon in April 2022, we can still work to save Ukraine as an independent country and avoid the outbreak of a world war.
3. Border
As an immigrant, I believe deeply in America’s history of strengthening itself by accepting talented people from other countries. But fulfilling that promise requires an orderly, legal immigration process that emphasizes skills and the principles of American citizenship. That’s the policy pursued under President Trump.
Biden has implemented a de facto open border policy since taking office. On his first day in office, he rescinded President Trump's executive order to restrict illegal immigration, stopped the construction of the border wall, and even sold part of the wall as scrap metal. This quickly led to a surge in illegal border crossings, plunging the southern border into chaos and danger.
President Biden (along with the incompetent Kamala Harris and the malicious Homeland Security Secretary Alejandro Mayorkas) has responded to growing concerns by misleading the public by claiming that there are no problems at the border, even as videos continue to emerge of large crowds of people crossing.
When the situation became impossible to ignore or deny, Biden claimed he had no executive authority to fix the problem and blamed Republicans for not sending him legislation to do so. Yet this week, facing poor polling on the issue, Biden suddenly discovered that he does have executive authority. The order he signed was a weak and belated attempt to slow the tide of illegal immigration before the election. But Biden has shown he is not serious about the problem. If he wins reelection, the open border policy will be restored and tens of millions of illegal immigrants will continue to pour in.
4. Legal battle
One of the cornerstones of America’s political stability over the past 250 years is that we do not accept the practice of winning elections by jailing political opponents. Yet, since Biden took office, he has pushed for the selective and unprecedented prosecution of his former and future opponents.
Merrick Garland scrutinized the events of January 6, and even as a one-sided congressional committee submitted highly biased recommendations to his Justice Department, he still could not find a way to prosecute Trump. News reports later indicated that Biden was frustrated with Garland's hesitation. Eventually, Jack Smith at the federal level and Alvin Bragg and Fani Willis at the state level stepped in. They all filed lawsuits based on unprecedented new legal theories, targeting Trump. In the New York case, Bragg repackaged a dormant bookkeeping misdemeanor as 34 felonies, claiming that it served a second crime that he had never identified, and the judge did not require the jury to reach a unanimous verdict.
I immigrated to the United States as a child because my parents were unhappy with the political system in their home country. That government resolved political differences by jailing political opponents. Ironically, the legal proceedings we escaped are now manifesting in the United States.
President Biden has repeatedly claimed that Trump's return to the White House would threaten democracy. However, it was his administration that worked with tech platforms to censor the internet, used intelligence agencies to cover up the laptop incident of his son Hunter, and carried out selective prosecutions of political opponents.
Conclusion: A/B Testing
Voters experienced four years of President Trump and four years of President Biden. In the tech world, this is called an A/B test. On economic policy, foreign policy, border policy, and legal fairness, Trump performed better. He is the president who deserves a second term.
