Chamath Palihapitiya: Freedom, Bitcoin, and First Principles | The Knowledge Project #94

Check out my New York Times Bestselling book, Clear Thinking. It's packed with proven frameworks and practical strategies that will give you a roadmap to navigating any situation with poise and intelligence - fs.blog/clear/
The Founder and CEO of Social Capital, 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.
EPISODE LINKS
• / chamath
PODCAST INFO:
• Podcast website: fs.blog/knowledge-podcast/
• Apple Podcasts: apple.co/3fz6u4X
• Spotify: spoti.fi/2SSgCvT
• RSS: theknowledgeproject.libsyn.co...
OUTLINE:
0:00 - Introduction
1:26 - Feeling part of a tribe
2:40 - Why we do things
5:21 - Defining Happiness
10:56 - Coping Mechanisms
16:46 - Imposter Syndrome
20:08 - Grinding and Getting Better
21:24 - Freedom and Happiness
23:49 - Path to Financial Freedom
30:44 - Observing the Present
36:40 - Using Observations to Invest
45:28 - The Genius of Jeff Bezos
47:44 - Allocating Capital
49:43 - How Climate Change Affects Industries
52:45 - Fighting Yourself (Psychological Traps)
55:52 - Automatic Behaviors for Success
59:45 - Pattern Recognition
1:04:43 - Best Public Company CEOs
1:07:13 - Measuring Progress
1:10:38 - Decision Process for Capital Allocation
1:13:04 - Advantageous Divergence
1:17:30 - Bitcoin
1:18:24 - Government Spending
1:20:14 - Anti-Fragile Countries
1:21:55 - Public Company Bailouts
1:24:08 - Rapid Fire Twitter Questions
SOCIAL:
• Instagram: / farnamstreet
• Twitter: / farnamstreet
• Shane Parrish: / shaneaparrish
• Facebook: / farnamstreet
• LinkedIn: / shane-parrish-050a2183
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#TheKnowledgeProject
#ShaneParrish
#ChamathPalihapitiya

[@tkppodcast]

Here are the timestamps. 0:00 - Introduction 1:26 - Feeling part of a tribe 2:40 - Why we do things 5:21 - Defining Happiness 10:56 - Coping Mechanisms 16:46 - Imposter Syndrome 20:08 - Grinding and Getting Better 21:24 - Freedom and Happiness 23:49 - Path to Financial Freedom 30:44 - Observing the Present 36:40 - Using Observations to Invest 45:28 - The Genius of Jeff Bezos 47:44 - Allocating Capital 49:43 - How Climate Change Affects Industries 52:45 - Fighting Yourself (Psychological Traps) 55:52 - Automatic Behaviors for Success 59:45 - Pattern Recognition 1:04:43 - Best Public Company CEOs 1:07:13 - Measuring Progress 1:10:38 - Decision Process for Capital Allocation 1:13:04 - Advantageous Divergence 1:17:30 - Bitcoin 1:18:24 - Government Spending 1:20:14 - Anti-Fragile Countries 1:21:55 - Public Company Bailouts 1:24:08 - Rapid Fire Twitter Questions

[@mefisto05s.20]

Thanks!

[@doctordilanka]

I'm a simple man. I see Chamath, I click.

[@prashphoto]

Haha brilliant

[@frankgaudioso5749]

Chamath is the most confident humble person I have come across. He is one of the best thinkers of his generation.

[@ms84545]

Try Naval, as he said...😐

[@theotryhard8651]

don't know about humble! but everything else is true

[@jwaxmcgeeg9706]

@@theotryhard8651 look at how he speaks of his past and insecurities.. He is very down to earth and level headed.

[@magicsaint]

Confident? Yes! Humble? Not so much. Being honest about his past is not being humble, it just what it is, the truth. You will often see him bragging how he outperforms Buffett and Chanos in his other interviews so that is far from him being humble. Is that a negative of Chamath? Absolutely not. It is again what it is, the truth.

[@jsmith1754]

I would disagree with the latter. He is one of millions capable of this, only person with the courage to say what he thinks

[@daviskahmann4761]

Chamath needs to write a book.

[@simoneque4416]

Exactly

[@ilkovic8772]

True, although I like listening to him a lot... He is a really good speaker

[@mrbinspire]

facts 💯

[@vimalcurio]

@@ilkovic8772 what about naval ravikant!?

[@seatrandixon89]

The most undervalued asset people completely miss the most, is adding value to people's lives.

[@UtkarshMishra1958]

Timestamp ?

[@bluewave416]

Damn, this interview really hits close to home, especially when Chamath shared about his family - I can understand the complexity of his emotions and it's cool to hear him talk about how those weaknesses influenced him as he became more and more successful, but with a level of self-awareness that helps him rise above it. When you rise up from tough, unchosen circumstances but stay true to yourself, I think your capacity for contentment is that much greater. Thanks for the content Shane

[@HellaRandomVideos]

His level of honesty is admirable. Jedi

[@believer7280]

"Every man is ignorant....only in different areas." Just because a person is a genius in economics and business, doesn't mean we should trust their advice on every aspect of life.

[@innercitadel3279]

Do you mean Chamath?

[@jannie629]

This was hands down one of my favorite interviews with Chamath.

[@MichaelBabich]

Great interview. You really should provide timestamps for the topics discussed. KZbin has this new option. Watched it long ago and wanted to share a particular part, but couldn't find one -- no time to rewatch the whole thing to find a couple of minutes to share on Twitter.

[@nutsandcams]

exacto.

[@rohanrobinson6839]

"I'm the brown brother from another mother"

[@xdude57]

What a great interviewer...Chamath is great too!

[@5a035]

Agree

[@chrisalmighty]

The humility of both Shane and Chamath is very humbling despite how much knowledge they radiate at a much deeper mental level.

[@austenclem7992]

666666666666666666666666666656666

[@jayprussman9747]

@@austenclem7992 ll

[@srikanthsalesforce]

Would love to see Cathy woods on this channel soon!

[@bjbrunetti]

Love this guy. Smart and explains complex shit in simple terms.

[@srikanthsalesforce]

How Chamath is able think/talk about 1000 different topics non stop for 90 mins & still make total sense! Such a Genius!

[@carsztheboss]

Timestamps: 0:30 - Speaking the truth 1:30 - I'm an ordinary person 2:30 - On his Background, happiness, society 10:35 - I haven't always spoken the truth, family background 16:45 - Dealing with Imposter syndrome 20:00 - What drives Chamath 23:50 - Path to Financial Freedom 30:45 - Being an observer of the present 37:00 - Implementing his form of change through capital 45:40 - The genius of Jeff Bezos 47:50 - Allocating Capital to important industries 49:45 - Changing value of industries 52:45 - Behaviour and Psychology - fighting your self 55:55 - self-correcting behaviours - personal rules 59:50 - Pattern recognition - finding CEOs 1:04:00 - Best public company CEOs 1:07:00 - How to measure when you are getting better? 1:10:00 - Decision-making process for capital allocation 1:13:00 - Making exceptional calls 1:17:00 - Thoughts on bitcoin 1:18:00 - thoughts on spending/budget of countries 1:20:00 - Efficiency vs resilient - waste to profit 1:22:00 - Should govt bailout public companies? 1:24:00 - Rapidfire Twitter Questions

[@samuraiyun219]

Thank you for this.

[@gw4416]

Such valuable conversation and insights. Can’t believe TKP only has 25k on KZbin!

[@SaadAhmed3000]

"The world's first trillionaire will be someone in climate change" ... Elon has entered chat

[@alexlee8639]

He said the same thing about HealthCare. A few months or years ago.

[@DavidFernandez-bc8vl]

@@alexlee8639 healthcare expenditure in the US alone was 3.6 trillion dollars in 2019. Healthcare employs now 16 million people in the US now also. Whoever makes healthcare 10 times better through tech will be the next trillionaire

[@iamfarouk]

When did he say that

[@iamfarouk]

@@DavidFernandez-bc8vl when did he say that

[@iamfarouk]

@@alexlee8639 when did he say that

[@xXGurgleXx]

By far the best Chamath interview I’ve seen, and I’ve been binging them for days now. Shane and Chamath have a great chemistry, they’re both learning from each other. Shane reacts to the ever so insightful things Chamath says, rather than just moving on to the next question in his list. Amazing.

[@mynameisdj1]

5:34 definition of happiness

[@holdened]

Was waiting for this to come out all week! Listening.. Him and naval are like my modern day heroes.

[@Braingeyser64]

From the very first time I saw him being interviewed he struck me as someone who just told it how he believed it to be. Doesn't suffer fools gladly and calls others out on their bullshit. First time I'd ever heard any major investor speak that way. It's very refreshing. The fact that he's generally been proven to be spot on every time doesn't hurt either. I pay much more attention to him than almost every other investor these days. I'd also just love to sit down and chat with him. He seems a very interesting man to talk to.

[@srikanthsalesforce]

One of the best interviews I ever watched on KZbin.! Thank you for your great work!

[@vaibhavkant75]

Appreciate the good work, Shane. Thanks a lot

[@cormacrabbitt9919]

so refreshing, such clarity and thanks

[@brooksjonesmusic]

Incredible listen. Thank you for leading Chamath down a different path of questions than the norm. Great interview.

[@Hariskhanmhariskhan]

Thank Chamath for being honest and sharing! Whatever comes from heart, is received by heart!

[@robertchristensen9949]

Just a straight up honest conversation this is incredible.

[@EthanSchwandtTheMindMapGuy]

Great podcast! Thanks guys.

[@swaahaa1]

really appreciate Chamath for taking the time and openly answering these questions so honestly. good interviewing

[@unchaineddreameralpa]

Love observing the present part.

[@sh5999]

Only 1/2 way through and loving it!

[@Thebitcoinconsultant]

What an incredibly honest interview.

[@cggaurav]

Loved the analogy about the 'triangle office' to find mental agility in a CEO!

[@jeramiahseidl7619]

Thank you for sharing your wisdom with us Chamath, you’re a huge inspiration

[@rohanverma7661]

Thank you, Shane. I've been a huge fan of both the podcast and Chamath so seeing this was truly a dream.

[@ConvergenceTrader]

Love from Bihar, India 💛

[@unomilan]

Excellent chat. Thank you both very much!

[@pradeepw4413]

Tnx Shane! it is an amazing interview!

[@SaumilSanghavi]

This was excellent!!

[@Superman-qz5ir]

Wonderfully interviewed. Really like the questions asked, the patience and cadence of the discussion

[@mrmaxin53]

"In the moment when I truly understand my enemy, understand him well enough to defeat him, then in that very moment I also love him. I think it's impossible to really understand somebody, what they want, what they believe, and not love them the way they love themselves."

[@RickW.]

Great interview, well done mate. Love the unpacking of Chamath's internal thinking & habits.

[@MrNickBreen]

Phenomenal conversation. Thanks for setting such a great container Shane & thanks Chamath for the vulnerability and authenticity.

[@CaparroCo]

Great conversation.

[@jaysandhu7146]

I love the way he thinks out loud!!

[@gaunapablo]

Great interview, thanks for the video.

[@H2theAzard]

Loving video Shane

[@ivfexpert]

Love their frankness

[@david88va]

Great conversation

[@garlandpepper2760]

Excellent insights thank you.

[@andresbf830]

Self Awareness and Humility, man

[@foundingfreedom1537]

36:46 Outline of investing

[@RaviAbuvala]

Insanely awesome interview is all I can say.

[@LGseeker]

This was a great video, thanks 🙏

[@dustinbrite7664]

Great interview and best interviewer I’ve ever seen

[@tomknop8675]

36:40 I really like that you don't just ask the obvious question, but you go for a better one. Great interview

[@ejoffroy]

Thank you for this.

[@deloachrd]

When I think about Chamath. Two words come to my mind. Transparency and Honesty.

[@ZachMeador]

good interviewer

[@jacky817]

You're one of the best interviewer I've seen so far. Thanks for the great interview with Chamath! Cheers

[@cnaccio]

This is so damn good!

[@mattforthelikes]

Path to Freedom and Path to Happiness... Chamath is becoming my therapist after investing in IPOA,B,C,D,E,F...

[@whatsupdanger3045]

This talk is 🔥🔥🔥🔥

[@jonyeazel]

Can't get enough of TKP or Chamath.

[@Yomamaissoo]

His investments in BOX and SLACK are going great:)

[@shreyasr5600]

One word to live by - Oh Wow!

[@BenWilkinsonBin]

Cheer Chamath, bloody good as always

[@HellaRandomVideos]

Chamath for CA Gov!

[@ahmedasmmsa]

Love the interview, I felt it, he is transparent and honest. Thank you Mr.interviewer❤️

[@qri-uu8pq]

be happy, do what makes you happy.

[@jenq6751]

Great interviewer as well.

[@TheOthmaneZ]

Great interviewer!

[@MyLatinLife]

Chamath is a boss!!!

[@ericjrodrigueztv]

Great conversation and episode! Has anyone found the Amazon analysis deck Chamath refers to in this conversation? Would be awesome to see their mindset at that time. Thanks!

[@shayneduncan6600]

So refreshing to hear his views of the world. Finding out he was behind some of the highly targeted and addictive practices of facebook took some of the shine off him for me. Everyone refers to Facebook as part of his bio but no one ever asks him how it sits with him that the pervasive and addictive elements of social media were his creation.

[@JorMFge]

There’s a interview where he talks about it , he even says how he feels guilty about it and how social media is fucking up a lot of things

[@NitikaRawat]

Amazeballs!

[@rkalla]

Thank you so much for this content man - format, length and guest of course - wonderfully interesting!

[@LorwaiTan]

Great interviewing skills. Ask the question, then let the guest talk with minimum interruptions.

[@hector9585]

Great interview!

[@elliottwilliams2082]

Hello there's this trader you should know she's an expect in trading, Ever since i started following her strategy & techniques things as be going well for me ,CONTACT via Email (@hauserjolietradingoptions) and thank me later ....

[@MikeBarnhill]

Awesome interview. Thanks so much. New sub here.

[@arthaud_]

this is great

[@Jbucks24]

Because Chamath is not the hero that we deserves, but the hero we need right now...so we will listen to him

[@seatrandixon89]

Me seeing this video couldn't have come at a better time in my life. I'm currently try the build exactly that same platform. Watching him is like watching myself in a mirror.

[@VideoBaseie]

Jesus chamaths remote setup is amazing. The visual clarity is great. You see so many people who are loaded with God awful remote setups

[@vimalcurio]

Yeah Jesus christ

[@StartupClicks]

Shane you're a great interviewer

[@edwardwilliams4043]

so good. thank you

[@elliottwilliams2082]

Hello there's this trader you should know she's an expect in trading, Ever since i started following her strategy & techniques things as be going well for me ,CONTACT via Email (@hauserjolietradingoptions) and thank me later ....

[@siddharthc4825]

Hi Shane, I suggest you add timestamps of the different topics you discuss on your podcasts. Would be extremely helpful to allow one to jump to those sections they'd like to listen to. Love your podcasts and Farnam Street. I've subscribed to Farnam Street for the last six years!

[@blainetanner5531]

Chamath is really the best

[@john-wg2vm]

Anybody know where I can find the Bezos vs Buffett deck Chamath said was floating out there?

[@aamirc]

This guy dropping knowledge

[@MonsieurDee]

It's 2020 can KZbin automatically create Time stamps 😭😂🤦🏽‍♂️

[@nickking6371]

I adore chamath

[@R4c3r01]

I love that (function) shirt!

[@frankwang4143]

Great podcast guys! Well done Chamath and Shane I took in a lot of good anecdotes. Perhaps stress is the larger more broader factor to men's shorter lifespans on average. I don't have any conclusive data to back it up, but it does make some sense. Also because women tend to be more social, they have a larger social circle when they get up there in age to keep them engaged, happy and occupied. Just a few thoughts.

[@user-fp4dr1ne7z]

Chamathhhh is the mannnnnn!

[@theexpertoutsider690]

Goddamn that I love this man. So refreshing. Thanks for leading the way to a better version of capitalism. History will remember you @Chamath Palihapitiya

[@ath6635]

imagine all this honesty response is just one strategic plan to bluff his homies on the next round of poker game

[@joseho-guanipa6044]

Bingo!

[@long_fellow]

I truly respect Chamath's intelligence and innovative way of thinking. But lately I've been seeing him a lot on both TV and internet. He appears at least twice a week on CNBC nowadays, and there's a new interview or podcast with him on KZbin every 2-3 days. If someone becomes this active on media so suddenly, usually, I've found that they have an agenda - a product/idea they are trying to sell.

[@pookiecatblue]

Yep...he wants you to invest in whatever he has already invested in...his SPACs, bitcoin, etc. It makes him more money.