Feb, 13, 2021
Here is the link.
During his View From The Top talk, Chamath Palihapitiya, founder and CEO of Social Capital, discussed how money is an instrument of change which should be used to make the world a better place. “Money drives the world for better or for worse. Money is going to be made and allocated – you have a moral imperative to get it and then use it to make a difference.“
Take my notes:
Lucky and skills - Work at Burger King and gave money to my parents for bus pass -> accepted -> racial rights -> Canada -> Ottawa -> Billionaire -> what is billionaire?
Business starts -> Law trickles down around you -> pivot all business at ATM -> stop by bus -> rewire money what it is -> 15 billion dollar change -> another billionaire, wife, divorce, two characters -> manifest money total different -> You can understand him -> copy things I see -> be a good copies -> be around high function and quality people -> observe people what to do -> formula -> all the time
Decision making and discipline -> 150 people around the world - puppets -> most of important assets -> next 5 to 10 years -> world works -> unfairly setup
50 year goal of social capital - 2045 vision - business positively affect people - trillion dollars business
technological -> test people's patience -> professional athlete mindset -> People smart to get in Stanford university -> culture missing -> train ourselves to be patient -> society not to be patient -> be right one? -> Fail fast, anything that matters -> consumer business -> manipulate -> wechat fail fast - mass population - educate a lot of people ->
Exploit consumer business -> future leader of the world, if you feed the beast, that beast will destroy you.
Behavior - social definition - retard ? -> capitalism - technology change -> make systematic -> open to 24/7
Best analog - AWS - lack of servers on data center -> some on the way Amazon - 2007 AWS is a joke - how fast in a decade -> AWS - you will be a joke - build a business - you need to do it
4.45/ hr, make 50 dollars, buy bus pass - Burger king, help parents - grow up poor; dad has drinking problem, mom is bread winner -
Questions and answers:
Social capital - public fund instead of private fund?
Be in the position to change psychology of society. Patience. counterintuitive, bring liquidity sooner than making company ?, life cycle. Compensate employees - less likely leave, 7 to 8 years historical norm.
Most of you - great job - portfolio of my career - 18 months here and there, decide what to do, incentive to build a portfolio approach - Solve the compensate - 20% - every 5 year turnover - every one is new every five year.
5 year turnover 100% - 20% turnover rate - silicon valley
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