Chamath admits his viral anti-social media Stanford speech was a mistake
Chamath Palihapitiya · Chamath Palihapitiya – The Social Capital Flywheel (Capital Allocators, EP.167) · Dec 7, 2020 · at 1:08:55
Chamath Palihapitiya reflects on his widely publicized talk at Stanford Graduate School of Business criticizing social media and explains why he regrets the tone of his delivery.
0:00 / 0:27exact quote · 27.2s
720p mp4 · rendered on demand · StarZero watermark
“One of the biggest ones was probably my speech at Stanford. You know, I gave a speech, and it's gotten pretty famous, and I kind of threw all of social media under the bus in 2016, and a lot of what I said came to pass. But it was a huge mistake, not because I was wrong. It was a mistake because it really came from my own insecurity, and it came from fear and anxiety. And it came out as angry.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Chamath Palihapitiya
Chamath: Mega-Scale Investment Firms Must Maximize Fees Over Carried Interest
“But if you really want to get to mega scale and run hundreds of billions of dollars and make it a business, you have to over-orient and over-index on fees and not really focus that much on carried interest.”
Chamath: Venture Capital Now Yields Worse Beta Than S&P 500
“That as the number of entrepreneurs have gone up, the amount of capital has gone up, and the returns have come down, where now you're signing up for 10 to 12 years of illiquidity, and a market beta that's worse than owning an S&P index fund.”
Chamath: Social Capital delivered 5x-6x fund returns and 40% IRRs
“And now looking back, we have six X funds, we have five X funds, we've generated 40% IRRs, we've generated billions and billions of dollars of returns.”
Chamath: Building a 21st-century Berkshire has always been my ambition
“I wanted to build Berkshire And that was always my ambition.”
Chamath: Western charitable foundations are largely driven by guilt and greenwashing
“I think foundations and charitable investing is largely an outcropping of Western guilt.
And the reason is because everything here has to have a name.
Everything is branded.
Every dollar that's given by rich people has to come with a label attached to it.
…”