Chamath: How to Succeed in Business

Lex Fridman Podcast full episode: • Chamath Palihapitiya: ...
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GUEST BIO:
Chamath Palihapitiya is a venture capitalist, engineer, CEO of Social Capital, and co-host of the All-In Podcast.
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[@LexClips]

Full podcast episode: kzbin.info/www/bejne/oXe0hnd5nLKdiMU Lex Fridman podcast channel: kzbin.info Guest bio: Chamath Palihapitiya is a venture capitalist, engineer, CEO of Social Capital, and co-host of the All-In Podcast.

[@LeviKerrison]

Avoiding a bad starting point is the best tool for ambition. Love he said his last few sentences about his starting point

[@timmanto1022]

Succeeding in business is all about building influence by building relationships but that means taking risks.

[@suzakico]

I do like this piece very much - except I thought I was not doing this for my love front. (I am almost 75). Then, I realized that I am living my life for the love of humanity (LOL...). I like the. point of society's evaluation (their language) of you vs you evaluating your authenticity - in my word, whether I am being sincere and truthful. So, this is Bodhisattva's life, indeed. Well done.

[@lucianocastillo694]

True, this is why learning something new from teachers or books that you don’t understand can be a bit painful, because you’re failing your own understanding. Yet not as painful as failing straight up. Point: learn as much as possible before applying something so you make less mistakes. But mistakes are bound so don’t be afraid to fail.

[@cryptocyclops3551]

Step 1: Create vc firm Step 2: Rob retail Step 3: Repeat Step 2

[@rogerjaswal8361]

Chamath made most of his money whilst his investors lost most of theirs. This guy is grifter supreme

[@djin.n]

SOOOO well said .💯

[@Truehoon]

How Chamath succeeds in Business: Pump up SPAC stocks like it going to revolutionize the world, then sell and get out at the top.

[@johns3318]

Visionary 🤣

[@Truehoon]

Yep, Visionary Conman. The SEC needs to look into him... not just the DOJ.

[@thejmaurelli]

This is a great clip!

[@jaylenstafford2716]

You have to play with the cards you’re dealt that’s a huge piece to it

[@RTC1655]

He describes success in business as a zero sum game, something it is not. Poker, yes.

[@whispernovember]

Yeah, real business is absolutely not a zero-sum game. Chamath is just not good at saying this because he doesn't understand the mechanics underlying. In an economic transaction that is absent deception, both parties can come out with what they want and out with a "good price" for their particular goal-set. For example, maybe someone values the liquidity of a sale more than the low price they are selling it to me for. People have different priorities and value sets at different points in their life. Just because you get a good deal, doesn't mean you ripped someone else off. Life is not a reductive poker game.

[@AndrewHedlund100]

Your competing for market share with other businesses

[@jmueller8081]

You’re right. It isn’t zero sum. The market itself can grow and all boats can rise. It doesn’t take a mistake from another to have growth.

[@oneknyt]

You can still sell yourself short.

[@knpstrr]

@@jmueller8081 The rebuttal is if you have growth, why didn't someone else take it (their mistake)? You grew, but why didn't you grow more (your mistake)? Etc.

[@Pimpjit85]

Hm I'm not sure if it's about the quantity of mistakes. Rather focus on why they are occurring. The more you learn about WHY you made a mistake, the more likely you are to reduce its likelihood in the future. People are scared of mistakes because they're afraid they will repeat.

[@tractioncontroloff9796]

Business is an act of faith. Marriage is also an act of faith. You have to believe in it and practice it to get good at it.

[@davidg2835]

4:06 best quote of the video !

[@YY-os4eu]

I like how he showed vulnerability here. I used to think he was getting super cocky

[@Chris-xl6pd]

I think its the power Lex has to bring out the real person because that person knows its going to be used in full context.

[@DYLTHEVYL]

Someone can be two things in one body. Chamath is cocky, but here he decided to show us his humble side. We all operate with a range of emotions.

[@SdGary420]

The downturn of the markets made him humble again lol

[@pedramtkanchi6026]

Definitely an interesting perspective, our society is fundamentally built to condition people into a certain type of predisposition of thinking from a young age that is fundamentally misaligned with success and innovation. I'm still trying to deprogram this social conditioning from my consciousness

[@alejandromarquez3526]

Good luck, Gatsby

[@MarkoSkace]

Is that bro telling the story of my life in the second part of the video? I couldn't relate more.

[@alirezahekmati7632]

Gold

[@xum7332]

Chamath is way beyond many who are in similar position. Great talk!!

[@AS-fd9jc]

That makes absolutely no sense 😂

[@brandonweemhoff9242]

Some mistakes have higher consequences than others.

[@plessman]

3:11 best part! 😂

[@thehated4763]

I love lex platform, such an intellectual dude. I would love to see Chamath on PBD podcast with Patrick as well.

[@samricher]

Two legends

[@webleydevelopment]

Terry Matthews!! Welsh legend!

[@paulrodriguez9536]

Somehow the loss in “profit and loss” I think, is another way to explain “mistake”.

[@jonwestbay3739]

Scamath returns.

[@allanshpeley4284]

Someone's jelly.

[@adamashton6742]

Mistakes are just cold hard learning

[@Mr.Telekinetic]

It’s scary how much I relate to his story 😌

[@ucheakusobi6281]

Not scary. That’s just life. A lot of ppl have the same story. However at the end of the day. Some people do, some ppl don’t. 90 don’t. He’s apart of the 10% that did. He’s no difference than us. Join the 10%

[@Mr.Telekinetic]

@@ucheakusobi6281 Scary is hyperbole, not literal. I'd say I'm top 1% overall but I do have some things still to work on to be the best.

[@ucheakusobi6281]

@@Mr.Telekinetic I hear that man. I’m trying to that level. It will happen.

[@NESCACGUIDE]

@@Mr.Telekinetic cringe

[@Mr.Telekinetic]

@@NESCACGUIDE Rude, but fair

[@opentrunk]

One of the smoothest scammers ever.

[@Kristupasas]

Can you elaborate? Is the guest somehow related to "scamming"?

[@rowland5951]

@@Kristupasas His spacs tanked

[@Emma95able]

You talk about it like he wasnt already successful before spacs..he had invested in and helped build several successful businesses before that through social capital..look at the firms performance and just going on tge numbers..whether you like it or not its still a highly successful investment firm..its not just luck or salesmanship

[@ashaikh28333691]

Are you secretly Chamath? you keep making this post in this thread defending the guy? @@Emma95able

[@dvanrooyen1434]

@LexClips you have to make mistakes - key is don’t repeat them and learn from - yes your error rate will diminish…

[@KeganVanSickle]

Some mistakes have eternal consequences.

[@helifonseka9611]

Bro that's interesting...what kind of mistakes? Like education and career choices ?

[@KeganVanSickle]

@@helifonseka9611 The consequences of rejecting God, Jesus Christ, His love and payment for our sins. I hope you find salvation and peace that transcends understanding today. All the best to you brother.

[@helifonseka9611]

@@KeganVanSickle that's very true bro..thanks. In a world filled with Ego and greed without a limit these times are a times to have our faith strong...even with recent debates about A.I I see they will try to play God but will never come close. World is at the highest limits as soon this world will collapse. I see this coming. God bless you brother!!

[@KeganVanSickle]

@@helifonseka9611 You too brother! Thank you!

[@AliAhmed-eo5cu]

Make mistakes to lower your loss function

[@vibhavsingh8874]

I still wonder. Why some people from MIT are offended by the way, how Lex Fridman carried out his things?

[@heartbeatplantation795]

Summary: experiment and make little mistakes so in situations that really matter you will make less mistake than your competitor.

[@knpstrr]

Essentially, we all are going to make mistakes, get them out of the way as early as possible.

[@rizwancheck4052]

It's not mistakes but attempts

[@dmitriysoloviev4423]

I guess mistake not good verbage especially if considered that weight of mistakes. ( you can do ton of mistakes and succed, when anoter can just do one fatal mistake and loose everything, so direct corelation with number of mistakes not works. Also if i'll do nothing i would have no mistakes, so then i successful(or may be do nothing is also mistake, but again only one)

[@gsiv2667]

SCAMATH giving financial tips lmao. Good luck to all those who listen to this

[@cartoonking1063]

100% agree, he’s a spineless snake

[@Emma95able]

You talk about it like he wasnt already successful before spacs..he had invested in and helped build several successful businesses before that through social capital..look at the firms performance and just going on tge numbers..whether you like it or not its still a highly successful investment firm..its not just luck or salesmanship

[@pna613]

Such articulate and wise person

[@feroze170]

chamath is smart deserves to be rich

[@danlane5982]

Chamath bringing that wisdom always

[@habibba2323]

He’s a scammer

[@Emma95able]

@@habibba2323 You talk about it like he wasnt already successful before spacs..he had invested in and helped build several successful businesses before that through social capital..look at the firms performance and just going on tge numbers..whether you like it or not its still a highly successful investment firm..its not just luck or salesmanship

[@AS-fd9jc]

Scamath is a cut and run, shifty slimeball...

[@hakuei7530]

This is a very Lao Tzu value right here.

[@crazyguru9115]

Hes pretty much describing a Zero sum game. That would essentially translate to everything you buy from "successful" brands as being a rip-off

[@eeliylilehto3195]

Lex 😂😂😂

[@Slicemenice]

Simple: buy and polish up turds and sell them to retail investors, using some fancy narrative. Also, pre-negotiate a cut for making this happen.

[@jmn1238]

I don’t know sounds like a zero sum game which is not how the markets operate

[@TrentonErker]

So the take always were -make mistakes -aspire for more ?

[@thomasmorison8093]

Some of his analogies don't make sense. Someone selling you their shares for $40 might not be a mistake. What if they needed the money immediately for a house deposit, or they bought shares in a different company that turned out to be more profitable? His concept is interesting but making fewer mistakes is not the only thing you need to do to succeed.

[@DoctorDoom69]

These people in the comments who don’t even have a business are commenting on how to run one 😂

[@AndrewKarczewski]

The negative behaviours in his home life sound extremely familiar to me. Unfortunately I can’t identify with any of the positive aspects of his home life …

[@tobeyforsman]

It’s easy to spot the sociopaths in business. They use the phrase, “human capital”

[@BrianMorrisPhoto]

why do people buy into this stuff..... always looking for patterns while ignoring .... all of the natural patterns!

[@dbsk06]

Lol instead of being obsessed with the inessential stuff and making snarky remarks why don’t people in the comments actually listen to what he says

[@bullshark3000]

Why does lex always wear the same suit?

[@soonyungwu3927]

Pump some Spac

[@goodfella_]

didn't explain his SPAC scams

[@whiteroadism]

haha, word!

[@sirliner8035]

Not to mention he's "lost alot of money" in crypto as he admitted on the latest All In podcast

[@ckkl]

Scammer

[@MISTERCARDMAN1]

Well he didnt say invest in SPAC lol

[@cryptonrsc]

Does that imply others VC’s aren’t 😅

[@kevinkadlec4314]

Below my line

[@nickg5042]

Ask him about the Uyghurs comments

[@tradingrange]

and this is why the education system is a joke Life: making mistakes = learning College: making mistakes = failing class = get penalized for actually learning

[@sp123]

In the real world, tasks have hard time limitations and you don't want to make mistakes on another person's dime (boss/employer).

[@tomaszsiata9190]

First thing is to not listen to this SPACs pumper...

[@Emma95able]

You talk about it like he wasnt already successful before spacs..he had invested in and helped build several successful businesses before that through social capital..look at the firms performance and just going on tge numbers..whether you like it or not its still a highly successful investment firm..its not just luck or salesmanship

[@KingRockets]

This guy is a scamming fraud, you should have at the very least confronted him about it.

[@QuantumLeagueCapital]

how to succeed: start scamming people wiht SPACs like chamath!

[@QuantumLeagueCapital]

@Play Google look it up :)

[@QuantumLeagueCapital]

@Play Google cool, then hop off my meat

[@Emma95able]

You talk about it like he wasnt already successful before spacs..he had invested in and helped build several successful businesses before that through social capital..look at the firms performance and just going on tge numbers..whether you like it or not its still a highly successful investment firm..its not just luck or salesmanship

[@Emma95able]

You talk about it like he wasnt already successful before spacs..he had invested in and helped build several successful businesses before that through social capital..look at the firms performance and just going on tge numbers..whether you like it or not its still a highly successful investment firm..its not just luck or salesmanship

[@QuantumLeagueCapital]

@@Emma95able doesnt matter he a big scammer

[@emjay2911]

Chammath you’re not that cool bro! Stop using Lex’s platform to boast about your unsuccessful SPACs

[@marlonmoncrieffe0728]

What are SPACs?

[@emjay2911]

Special purpose acquisition company. Google is your friend 👍🏽

[@marlonmoncrieffe0728]

...Or YOU could just do the polite thing and spell out abbreviations for your readers-and without a condescending attitude too, @@emjay2911 .

[@emjay2911]

@@marlonmoncrieffe0728 apologies, didn’t to come off with an attitude. Hope you have a good weekend!

[@kikolatulipe]

He is making money by taking other people money .. example : virgin Galactic !

[@deardaughter]

How to say absolute nothing while saying literally anything. By Chamath Palamanamapahtap.

[@chadp1124]

Dude this is to theoretical.

[@SlackerU]

Rule #1 Get-Government-Contracts & act like peasants don't deserve socialism(a UBI). The rest of business advice is babble.

[@oliv23_]

Get a job

[@candyday64]

Uyghurs > this guy

[@dougellis2216]

How many lifes did this guy destroyed .....

[@stuartwilliam6010]

I just found out this guy is a Jew! That makes so much sense now! 😂😅😂

[@wndwsyt8786]

You are really obsessed with Jews…. Every second comment you’ve ever posted… jealous much? 😂

[@iseeyou8385]

Scamath lost all credibility with his spacs that he pumped and dumped. Retail investors just need to bet against this grifter!

[@cmm8217]

This man said nothing the whole time

[@americo7965]

Don’t invest in SPACS is a sure way to succeed