Startups should be, if you graph their financial performance, it should be what's called a J curve. You start out at zero, you're not making any money, you're not losing any money. Chamath Palihapitiya More Quotes by Chamath Palihapitiya More Quotes From Chamath Palihapitiya I was born in Sri Lanka. Chamath Palihapitiya lanka i-was-born sri-lanka born All these social media sites allow us to confuse truth and popularity. That has to be fixed. Because every normal citizen has a right to know what is factual versus what is amplified by good actors or bad actors. Chamath Palihapitiya good social-media media truth We curate our lives around this perceived sense of perfection, because we get rewarded in these short term signals: Hearts, likes, thumbs up. We conflate that with value, and we conflate it with truth, and instead, what it really is is fake, brittle popularity that's short term and leaves you even more vacant and empty before you did it. Chamath Palihapitiya value you fake truth Early traction of Tesla is tracking very closely to Apple. Chamath Palihapitiya apple very early tesla Today we live in a world now where it is easy to confuse truth and popularity. And you can use money to amplify whatever you believe and get people to believe what is popular is now truthful. And what is not popular may not be truthful. Chamath Palihapitiya you money truth today None of us are going to fix governance; it may just be beyond repair. But you can fix capitalism. And the reason you can fix capitalism - It is inherently numerical, and as a result, it is inherently objective. It can be done objectively. Chamath Palihapitiya result you capitalism done I wasn't blessed with the natural ability to rein myself in. Chamath Palihapitiya myself ability blessed natural One of the things I have known my entire life is that I have an innate capability for making money. Chamath Palihapitiya things making-money money life When I left Facebook, I left an enormous amount of equity on the table. I thought, 'I don't want to be a slave to money. I want to be a slave to something bigger: an ambition, a goal.' Chamath Palihapitiya thought money ambition want Betting against entrepreneurs who are changing the world has never been a profitable endeavor. Chamath Palihapitiya against never who world I think what IBM is excellent at is using their sales and marketing infrastructure to convince people who have asymmetrically less knowledge to pay for something. Chamath Palihapitiya something think people knowledge We need to divorce ourselves from venture capital as an occupation and focus on using capital as a way to take really big bets on things that just seem totally audacious. Chamath Palihapitiya need things focus way Valuable companies take decades to build. Chamath Palihapitiya build take decades valuable Facebook could have gone public whenever it wanted. We decided the right time was 2012. It could have easily been 2010 or 2014. Chamath Palihapitiya right facebook right-time time I'm a living testament to the value of immigration. I escaped a civil war, and I came to Canada as a refugee, and they gave my family protection. I did my best to pay that country back, and I think I did that. Chamath Palihapitiya value best family war Something like bitcoin is really important because it is not correlated to the rest of the market. Chamath Palihapitiya rest something like important Not everybody is right all the time. Chamath Palihapitiya right everybody time My mom was a nurse, and my dad worked in the Health Ministry as a civil servant. When I was 6 years old, my dad got a job at the Sri Lankan High Commission in Canada, so we moved there. Chamath Palihapitiya job dad health mom My first job was at a Burger King. Chamath Palihapitiya burger king first job I've found that a lot of successful poker players grew up poor. And I'm convinced that poor people have a risk tolerance that rich people don't have because poor people fundamentally don't value money that much because they're used to not having it. Chamath Palihapitiya value rich money people
