Podcast Notes Key Takeaways

• A good question to ask yourself: Are you living the life you want to live or the life others want you to live?   
  • “I think a lot of people have to do things that are motivated by other people’s perception of them and also motivated by the pressure that’s exerted by the people that are very closely around you” – Chamath Palihapitiya 
• “We’re going to financialize everything. We’re going to fractionalize ownership of probably everything. And so, what there’s an opportunity now to do is to curate and cultivate a community around that, to help people.” – Chamath Palihapitiya
  • You can buy shares in sneakers, art, trading cards, and just about everything else. There’s also a large community around each of those areas.
    • “The investable universe is growing”  
• Climate change is a multiple decade and deca-trillion dollar opportunity: 
  • “The world’s first trillionaire will be somebody in climate change” – Chamath Palihapitiya
• “We are going to spend, in the next decade, tens of trillions of dollars to try to dig ourselves out of this unemployment and GDP hole that has been exacerbated by the coronavirus pandemic” – Chamath Palihapitiya
• What is the 2020 election about?
  • “I think it comes down to political correctness versus cancel culture” – Chamath Palihapitiya
• When it comes to being a great investor, you have to manage your own psychology:
  • “I think that when push comes to shove, what you’re always going to be fighting is yourself. Panicking, overreacting, underreacting, refusing to observe the present, living too much in the past, wanting too much to believe in the future.” – Chamath Palihapitiya
• Chamath is still bullish on bitcoin:
  • “We are dismantling financial orthodoxy…and to have a small amount of insurance that’s uncorrelated to the orthodoxy is just a smart risk management thing”  – Chamath Palihapitiya
    • “It’s a smart thing to have under the mattress just in case”

Read the full notes @ podcastnotes.org

The Founder and CEO of Social Capital, prominent figure in the venture capital business and part owner of the Golden State Warriors, Chamath Palihapitiya sits down with Shane Parrish to chat about what it means to be an observer of the present, how to think in first principles, the psychology of successful investing, his thoughts on the best public company CEO’s and much more.

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