Craft Ventures

At the White House AI summit in July 2025 where Trump unveiled his AI roadmap, the All-In podcast (co-hosted by Craft Ventures founder David Sacks) attempted to be the exclusive host of the event and asked potential sponsors to pay $1 million for access to a private reception and other events. White House chief of staff Susie Wiles reportedly had to intervene to prevent the All-In podcast from monopolizing the event. This raised concerns about monetization of government access through Sacks' dual role as White House AI czar and podcast host.

David Sacks co-authored with Peter Thiel the 1995 book 'The Diversity Myth: Multiculturalism and the Politics of Intolerance at Stanford,' which criticized diversity programs and downplayed the seriousness of date rape. While Sacks apologized for some content in 2016, he has continued to oppose DEI programs, arguing in 2025 that DEI requirements in AI regulation represent 'backdoor ideological bias' and warning against mandating DEI in AI through 'algorithmic discrimination' laws.

In December 2024, President Trump appointed Craft Ventures co-founder David Sacks as White House AI and Crypto Czar as a special government employee, allowing him to continue working at Craft Ventures. A November 2025 NYT investigation found Sacks held 449 AI company investments that could benefit from his policy decisions. Ethics experts called his broad waivers 'sham ethics waivers' lacking rigorous analysis. Craft Ventures invested in BitGo, a crypto company that benefited from the GENIUS Act stablecoin regulation Sacks backed. He also played a role in removing Nvidia chip export restrictions while having grown close to Nvidia CEO Jensen Huang. Senator Elizabeth Warren launched an ethics investigation in September 2025.

Craft Ventures led a $30 million Series A funding round for Allen Control Systems, an Austin-based defense startup that builds the Bullfrog autonomous weapon system designed to shoot down drones with standard ammunition. This represents Craft Ventures' most prominent disclosed defense technology investment, signaling a strategic shift toward autonomous weapons systems.

David Sacks, co-founder of Craft Ventures, hosted a campaign fundraiser for Donald Trump at his San Francisco home in June 2024 that raised approximately $12 million, with tickets ranging from $50,000 to $300,000 per person. He then spoke at the 2024 Republican National Convention in July 2024, delivering a speech focused on foreign policy and criticizing Biden administration policies.