The second is really what Google is pioneering in the autonomous-vehicle space. There are just too many other interesting good companies that one can go work at if you are a very credible, talented contributor at Twitter, and the problem is in the absence of them completely kind of figuring out their true northern star metric, the next version of product market fit, it’s a thing that just kinda stagnates and decays. So if you had 1/10 the capital, the mortality rates would be higher, faster, the curves are sharp, and instead what happens is the decay is longer, and in the long decay, what essentially happens is that you are feeding capital to companies that should really not exist anymore, and those companies then use that capital to take up space. He runs a $2.6 billion technology venture capital firm based in Palo Alto, California, in the heart of Silicon Valley. That is like an act of discipline. my whole thing is for every person that drops out, which is fine and good, there is so much value in working at a company. Data is a real-time snapshot *Data is delayed at least 15 minutes. It’s just not. This is not a job I either liked or wanted to do. He was born on September 3, 1976, in Sri Lanka. Absolutely. But there’s a $4 billion balance sheet that’s mine. I don’t have to answer to anybody. Save my name, email, and website in this browser for the next time I comment. And I would just see how she grinded. But in the specific case of genetics, I think we’re making an extremely important shift, which is shifting the burden away from biologists to computer scientists. It’s your phone, which has like 19 different things that it could be measuring at any given time. My mom was the sole breadwinner. We need to divorce ourselves from this romanticized narrative… like fallacy that we’ve created that is this two dudes, 22 years old, dropped out of school, coded some schmatzy thing. Its biggest problem right now is the decay in human capital that’s happening within that organization. What is the Most Underrated Book You’ve Read? So product engineering talent, and eventually that seeps into the quality of the business.Is it fixable? Source: Vox’s Transcript from Recode Decode, Source: Institutional Investors article – The Unusual Ambitions of Chamath Palihapitiya, Source: Managing disruptive technology: A conversation with investor Chamath Palihapitiya Transcript by McKinsey, Source: Transcript from Semil Shah @Chamath At StrictlyVC’s Insider Series, Chamath Palihapitiya: US shouldn’t bail out hedge funds, billionaires during coronavirus pandemic, Chamath Palihapitiya on Money as an Instrument of Change (Full Transcript), Source: Startup Grind’s VC Corner Article, Source: Semil Shah’s Transcript from Post Seed 2016, Earn like Berkshire, Spend like the Red Cross | Chamath Palihapitiya (SocialCapital) @ Startup Grind, Chamath Palihapitiya on Money as an Instrument of Change, The Unusual Ambitions of Chamath Palihapitiya. Could you make a lot of money? They use that capital to hire other employees, and all these other people spend a lot more time wasting their time. And so in my life now I’m just kind of like, why not? And I kind of had a sense that I could figure some stuff out later, but I didn’t really know. So as an example, you look at a company like Amazon, they barely generated a dollar of profit, but Bezos has created a envelop of trust in the public markets, which are extremely fickle, which are extremely judgmental, we claim them to be extremely short-sighted. There’s 35-year-olds. Might be a bit different to other compilations that you’re used to. Photo by Brian Ach/Getty Images Social Capital arrived in Silicon Valley seven years ago with a charismatic co-founder, former Facebook executive Chamath Palihapitiya who also owns a piece of the Golden State Warriors. Not the high school I should’ve gone to. And when you get behind the curtain and see how that world works, what you realize is, it is unfairly set up for them and their progeny. I learned from people that were better than me. I don’t know if I have it. And that’s problematic, and if you don’t get that churn, then the few that have the ability to really get to escape velocity, are forced to figure out for themselves, how to get that sooner? You allocate those resources against the most important issues of the day. “Oh, I knew this thing would work and that thing would fail.” That’s a crock of horseshit. And the way that I do that is by proving that I can do what they do as well as they do it and then do it better than how they do it. The people that don’t do it, is the people that can’t do it. So that’s one area that I’m extremely excited by. Highly encourage you to read the source material for a more well-rounded view on his thoughts though. There are great examples of failing fast is the right path to exploiting psychology of mass populations of people. But he said he never gives in, except for the occasional movie. Because you cannot hide behind bravado and nonsense. Got a confidential news tip? Look, here’s the thing, there’s about 150 people that run the world. Just to be clear on who we are talking about. It is not how you educate broad swaths of the world’s population. I also learned from people that were not as good as me about all the things that I shouldn’t be doing. An entire fleet of city vehicles paid for and bought by a state or by a city that provides public transportation in a predictable way. Because at the end of the day, they are commercial fucking animals, okay? A fleet of drones that drops off parcels from Amazon, Walmart, and Target, right to your doorstep. But I’ve thought really deeply about this issue, and that is the government. And then the last idea is that big data is kind of like this stupid buzz word—like “growth hacking,” frankly—where you’re really talking about just creating more noise and not enough signals. Because everybody in dealing with it, they all are like, “Wait a minute, you’re bullshitting, you’re bullshitting, you’re bullshitting.” They all become incrementally more mercenary, and then when that happens, because you have to put up a shield, right, you’re less sympathetic, you’re less connected to the people around you, and then you just, it’s just not great. Why the fuck not? Palihapitiya, who grew up in Canada after his family emigrated from Sri Lanka and was granted refugee status, believes that kids learn and thrive by having real-life experiences. And this is where their mathematical models break, and then their brains explode. Lose at something. The thing with Facebook and Google ultimately is that Facebook is basically about consumption and advertising, and Google is about intent in advertising. And I'll try to tell you why that's a good thing that's happened to you," he said. So I’ll just leave it at that. Build a real business. You know, like we talked about some earlier, like, “Oh, I just came up with this thing, it was divine intervention.” That’s a crock of horseshit. It’s taking a point of view and being methodical. These are people that grew up in a different time where the social signaling of where they went to school mattered enough where they could get these prestigious, “prestigious,” jobs. A compilation of sorts. Those two are bounded markets that are in the mid hundreds of billions. I was a 36-year-old founder/CEO. A fleet of trucks that doesn’t cause traffic and congestion. “It’s about a kind of pattern recognition that very few people have. The problem is that it’s not a prestigious job, it’s a critical job, and so the people who get prestige versus the people that get criticality are very different kinds of people. Because when you sequence an entire genome, what you’re really doing is spitting out a 4 GB to 5 GB flat file of codes, which can be interpreted, where you can build machine learning—supervised or not—to intuit things, to make connections, to find correlations, to hopefully find causality. There are some great examples of that where they’re creating real value, but there’s all of these other things. I worked at AOL. We didn’t have a car for a long time. Absolutely. But the Canadian government was like, shit, let’s get all these black and brown kids jobs, because we don’t want the Rodney King riots in Toronto, and Ottawa, and parts of Ontario. It is not how you use precision medicine to cure cancer. Jeff Bezos knows his business. So then what happened was there was these massive racial riots in Los Angeles. If you ask me what we are today: we are in this primordial stage where we look like a venture firm. And one of them gave me a job. They’re in the roads, they’re in the air, they’re on your body, they’re in the phone, what have you.And as that happens, what we’re going to see are extremely explicit ways of improving one’s quality of life, one’s economic output, in really tangible and simple ways. You are forced to show that you have articulated a strategy, and a gameplan, and a set of metrics, and narrative, and you have to explain that to people who may not necessarily care emotionally. Your behaviors, your patterns, what you do, what you say, where you go, and to have that amount of knowledge that can be learned on concentrated in two for-profit companies can be in the eyes of governments extremely scary. So you can imagine a fleet of small electric cars that deliver all mail. His father was most of the time unemployed while his mother was a housekeeper.
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