David Sachs

It's permissionless innovation.

That's what has made Silicon Valley the crown jewel of the world.

It's why so many of the, I think, heads of state who are here are always asking, how do we create our own Silicon Valley?

That was not the

direction we were on when President Trump came into office.

The new 300 pages of regulations concerning AI the Biden administration left us with would have changed this environment of permissionless innovation to an environment of you have to go to Washington to get approval for your idea.

And I think that President Trump really corrected that.

And since then, we've been implementing his AI action plan, which is all about pro-innovation, pro-infrastructure, pro-energy, and pro-export.

So it's been, I think, a total change.

And I think just in the past year, you've seen the results of that.

Well, I think part of it is, and I think this is the difference between maybe the American mindset and the European mindset towards this, is that ultimately the innovation in the United States comes from the private sector.

It comes from the entrepreneurs, the founders, the innovators, the geniuses with an idea.

And I think that the government sees its role, at least when it's thinking properly about this as being an enabler and is just setting the rules of the road and maybe putting in some guardrails.

But basically, it's letting the entrepreneurs cook.

And that's how you get innovation.

And now I don't want to bash our European host too much.

But, you know, when when when the EU talks about AI leadership,

they're talking about the regulators and they think their value add is, well, we're going to show the whole world the regulatory model for AI.

So it's kind of a bad case of main character syndrome where, you know, where like the regulators think they're the main characters in this.

No, look, the regulators are the supporting players.