Watch CNBC's full interview with venture capitalist Chamath Palihapitiya

Chamath Palihapitiya, chairman of Virgin Galactic and founder of investment firm Social Capital, joins "Squawk Box" to discuss the top stories of the morning including the coronavirus outbreak, Virgin Galactic's rise in popularity with retail investors, Bob Iger stepping down as CEO of Disney, his support of Tesla, ESG investing and much more.
Virgin Galactic Chairman Chamath Palihapitiya thinks the recent rally by Wall Street’s favorite speculative stock is not the sign of a bubble, pointing instead to the space tourism company’s growing demand from possible customers.
Shares of Virgin Galactic have tripled since the beginning of the year. But, asked whether he thinks the stock is getting ahead of itself, Palihapitiya identified a combination of factors as driving shares higher, including the current U.S. market conditions and the demand Virgin Galactic is seeing from potential customers.
“There’s a setup [in the market] where there’s no real growth, there’s no unique stories and there’s nothing that can give you long-term outlook,” Palihapitiya said on CNBC’s “Squawk Box” on Wednesday.
Palihapitiya added that this setup for Virgin Galactic’s stock rally “also applies to Tesla,” saying “those two things are the most similar stories.”
“When a company comes along that has a unique narrative and is trying to do something that is differentiated, high margin and could theoretically grow for 10 years ... these things get re-priced in ways that are non-traditional,” Palihapitiya said.
Virgin Galactic as a business is “making amazing progress,” he said, although the company’s timeline for beginning commercial operations appears to have been pushed back. The company told investors ahead of its October stock debut that commercial flights would begin in the first or second quarter of this year, setting a target for 16 flights in 2020. But that schedule has slipped, as often happens in the space industry, with CEO George Whitesides telling shareholders on Tuesday that the company’s main goal this year is to safely fly founder Sir Richard Branson to space. Generating significant revenue this year, then, is not the company’s current focus.
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[@grildcheez1504]

Hit like if you want 3 hours of Chamanth uninterrupted and unedited on Joe Rogan!

[@ghostpos]

Hell yeah!

[@BenjaminKey]

This guy being interrupted is the most annoying thing ever!

[@curtislucas8404]

It’s a catch 22 when they put Chamath on. He speaks eloquently and then they cut him off. It happens every time.

[@jz5748]

yea that be very cool.

[@spol]

Thank you!!!

[@mercespedroxo7129]

Like si estas aquí por yolo aventuras 🙅💔💔

[@bri-gr8wu]

Si yo si ojala este maldito pague igual no creo que sea el la verdad y si lo es no se

[@nadineore5046]

Es el

[@titansord753]

Jhf

[@titansord753]

Disque Ueno querido el mundo sepa que eres jaquer

[@Mar1a.J]

El es el haker

[@mattforthelikes]

Joe should be fired for his behaviour. Incredibly unprofessional.

[@1flash3571]

you should be fired because you offended me.

[@mattforthelikes]

@@1flash3571 classic conservative drivel.

[@workout3625]

Agree! Joe is unwatchable. Not interested in Joe's personal views.

[@Long_Tail_of_Finance]

Joe is getting too old and curmudgeonly for CNBC. Most of the time he can't even put together two thoughts or utter a coherent sentence. Hey Joe, time to move to Fox!

[@alwaysk4354]

Billionaires are so whiny. Shouting down Chamath does not mean that you are right. Thank you Chamath for speaking what they don't want to hear.

[@chrissalley9468]

Chamath is a highly logical and intelligent guy. He's right

[@billmoyer3254]

highly logical does not preface statements with "I believe in". It's a millenial thing...everything is "feelings".

[@billmoyer3254]

highly logical does not preface statements with "I believe in". It's a millenial thing...everything is "feelings".

[@chrissalley9468]

@@billmoyer3254 I believe is faith. If it were "feelings" he would have said I "feel like". I'm pretty sure he is older than a millennial and so am I

[@Hilaire_Balrog]

Except when it comes to Bernie Sanders

[@hamzariazuddin424]

Leon telling us how great a guy he is.....Chamath being humble and actually understanding where we are in society today ....Who do you want to listen to?

[@stoneytech2671]

Ok Boomer

[@hamzariazuddin424]

StoneyTech what does that mean sorry I’m so clueless with slang and new phrases

[@mountainman6172]

One is from Jim Crow era and on his way out and the other is the future and the new breed that have critical thinking and common sense. Leon is stuck in Ronald REGAN era.

[@tx7620]

the discussion was a bit messy because everyone wants to talk to demonstrate their knowledge and smartness, btw, why do we need 3 hosts here ? can we cut to like 2 ?

[@murdm13]

Always messy because of constant interruptions 😖😖😖

[@ghostpos]

Yeah I think they created this fake fight between rich guys. Dumb lol.

[@Dhwu592]

#firejoe the old guy

[@entohack7g500]

And because the hosts are morons.

[@spol]

Exactly. Happens every fricken time they have him on

[@anonymous-mj]

"Billions of dollars... no wonder you dress like that". Really Joe?

[@suballica]

This what happens when people are not naturally funny tries to be funny! Very cringe-worthy!

[@michaelangelogarland2140]

The worst type of Boomer..

[@Ramjit275]

Cringey!!!

[@necromancer7712]

the employee of the decade award goes to Joe Kernen at CNBC for staying at the job so long without being fired while knowing $$it in finance, zero interviewing skills, and being the unfunniest anchor in television history!

[@empathyismoney]

What is white privilege?

[@iali00]

Nnamdi Okorafor couldn’t agree more. This is literally white privilege on display. Everyone is calling on his firing and still has a job.

[@ArendJanV]

Calling Joe a buffoon would be too fair.

[@maniahmadiarsham7274]

JESUS! Let the man talk!

[@CommandoMaster]

Seriously why did they call that old dumb man.

[@Ramjit275]

They are so rude to Chamath

[@LiguoKong]

thumb up for Chamath, thumb down down for the hosts and the Leon guy, whoever he is. so rude, keeps rambling

[@Homerw00t]

Seriously. Why was he even on? Just ruined the entire interview complete.y It's unwatchable now

[@luism5514]

Bernie Sanders would wreck the space economy because it it primarily caters to billionaires and the wealthy class, there are no working class space tourists not yet. If you don't think he'll come after them the moment Virgin Galactic starts flying their first customers in a widely televised and vibrant manner in which they'll debut, then you are mistaken.

[@sanjayaiyar4351]

@luis m What you talking about? Bernie’s not going to come after virgin galactic because theres nothing to come after. Even with his proposed taxes, all the customers have enough money to take as many space tourism flights as they want. And you heard it from Chamath himself... they are working towards a carbon clean footprint. He believe in it fully.

[@marc11234]

Joe kills the flow of these interviews,

[@maverik15j]

Please only Chamath next time.

[@murdm13]

Chamath on Joe Rogan please

[@stenyethanmathews945]

@@murdm13 seconded! Chamath on Rogan!

[@themossinator]

Just have the interview with Chamath

[@notbnull]

chamath has always been my favorite guest, its a shame in took an uncomposed downturn. thanks joe for the idiotic cutoffs 😓

[@monicalatvenas1348]

Brandon Null chamath is a god ! He endured this exchange with FUD and old white men and kept his cool. He is strong. The hysterical old men are feeling personally threatened like their very identity is being attacked.

[@dr-k1667]

@@monicalatvenas1348 He's not a god... he's a boss, a level headed intelligent person who learns more from listening than just spouting off and probably ( definitely ) reads a variety of things so that the jokers that embarrass themselves on television like Joe can be an example of how to behave and what not to do.

[@bleacherz7503]

Monica Latvenas you sound like a racist

[@bleacherz7503]

You know what else is uncorrelated to the economy, sand on the beach. If Everyone out 1 % of the wealth in bitcoin, chamath would become one of the worlds wealthiest. Definition of a Ponzi

[@iscratchmybutt]

he's so articulate... and his vocabulary is nuts. i wish i could speak like that

[@isvelasorto8179]

Like si viniste por que le hackearon el canal a TITANES

[@julieta5901]

Ziii

[@bri-gr8wu]

Ziii

[@eriktope6461]

Maldito hacker

[@eriktope6461]

Ojala lea mis comentarios el pendejo

[@nadineore5046]

Si

[@ebp1234]

billionaires get welfare from the FED reserve.

[@Bigjoe99]

that is the flip side of saying all welfare recipients are lazy bums

[@AscendedSaiyan3]

All day, every day!

[@ACT1O1]

You ain't lying 😂

[@xplicitgame02]

Leon was cringeworthy on this. Just keep Chamath, push everyone else aside and out.

[@Lu89m]

12:55 notice how he put the Tesla shorts on blast and CNBC rapidly cut that scene and transitioned to something completely different LMAOOOOOO #canttaketheheat

[@chriswomack922]

Lu M thanks. I noticed the cut, and not what they didn't want us to hear.

[@juegaerickyt]

Like si venistes investigar quien se robó cuenta de los titanes😡😡😡😡😡😡😡

[@junmueres5832]

Es sierto yo vine aquí para ver quién se robo el canal de titanes

[@maia5000]

Yooo

[@rubicarrera1046]

Yo voy aindestigar todo para saberlo

[@curtislucas8404]

Chamath always maintains his composure despite the verbal diarrhoea happening around him.

[@chadcarlson7841]

This guy is great, you should continue to have him on your show on the regular!

[@MADMAX7330]

Please boot Joe from the show, he is an absolute disgrace!

[@drunkntigr]

Two old men vs young educated man. Manners gentleman, manners.

[@tamyboy1]

Whats wrong with Joe ? He needs to be fired. It was painful to watch.

[@fredo1772]

Can someone please tell me why Leon Cooperman is there!?

[@wilberlee2727]

Chamath Palihapitiya is so smart and wise! Love him!

[@fireguydale7286]

Charmath is great...shame they wont let him speak.

[@adrianfortmoviereviewsbook9821]

Chamath is brilliant and clearly upset to be there, haha. Does anyone know if he has written a book or has a channel or anything?

[@soumyarooproy]

WTF, an abrupt edit at 13:08 going from "...intellectually invested in virgin" -> "Leon, what do you think..." 🤷🏽‍♂️

[@1943vermork]

Couldn’t finish watching. Those horrible boomers ruined the interview.

[@ashainp]

This video defines 'ok boomer'

[@christophermatthews4896]

Leon Cooperman: “I don’t care much for money, I’m going to give it all away” .... silently in his head (when i’m dead)

[@christophermatthews4896]

Sure! I agree just don’t say “you don’t care about it” he should certainly do what he wants with it i agree with you.

[@CNT536]

Glen Ayres ok boomer

[@satya420]

LMAO

[@CNT536]

Glen Ayres it’s bigotry against regressive thinking people stuck in the 19th century, I agree.

[@thomas8421]

@Glen Ayres you sound like a billionaire bootlicker

[@monicalatvenas1348]

11:30 i have endless admiration and respect for Chamath for tolerating the journalist and his obnoxious question about insurance and “massive tragedy” scenario. This “journalist” consistently implies and infers without facts, always trying to create FUD.

[@abaddomxxx4579]

Like si vienes por que hakearon el canal de titanes

[@maia5000]

Zii

[@DocUltimate]

I wish this guy had a podcast. I could sit here and adsorb the knowledge all day.

[@kirathekillernote2173]

Check out the all in podcast

[@gladiscanulchim2351]

Like si estas aqui por titanes

[@mayyhemcombat35]

"Move forward in a plan not backwards in a date" awesome response.

[@theoneandonlyworldruler418]

31:40 why they dont want say bitcoin?

[@CaseyPlexy1]

Elites and rich are filling their bags.

[@plee9]

Stop interrupting chamath!!!!

[@a_doggo]

Damn Chamath is a genius.

[@Leoh1]

Without a doubt

[@sanjibanichoudhury7517]

someone pls edit the chamath version of the view, and upload

[@pedropabloarango]

Chamath is so good in this interview... i would have just walked out

[@brandonstokes3393]

Chamath seems to be the only smart one on the show. They’re all ears when it comes to him talking finance but when politics came to play they never let him talk. Interesting 🧐 You can be for Bernie and a capitalist. It’s called responsible capitalism. The same thing Nordic, Canada and other well performing countries have. Everyone beside Chamath is really out of touch.

[@paulz6491]

Brandon Stokes I agree, every industrialized capitalist country in the world has Medicare for all and yet richest country in the world does not. And when Bernie Sanders talks about this he’s labeled a socialist and the conversation about health care is shut down.....

[@loveanimals-0197]

06:30 - Can someone please explain what he means by hedge funds are leveraged 15x?

[@omarmeson6396]

They are taking on debt 15x greater (may be a bit exaggerated) than their cash positions in order to buy securities. Think of it as buying a $150K house with only $10K in your bank account and borrowing the remaining $140K.

[@loveanimals-0197]

​@@omarmeson6396 That's a real concern then, especially as the markets have fallen a bit over this week. AT what rates do the big hedge funds borrow these, do you know?

[@simona4315]

Tangible assets/equity. So they only need a 1/15 drop in assets to wipe them out. If the assets value drops by 7% they're going bankrupt.

[@cipherpol0480]

Love Animals-01 it’s not going to be the same for every hedge fund, but there are funds that use margin as a means of investment. When market corrections happen these are the funds that are fixed to dump share to cover, resulting in a downward spiral. While the 15x leverage is indeed scary, the interest rate margin can almost be ignored because without a doubt the FED will lower interest rates in the coming weeks to ‘counter balance’ the virus.

[@sommi888]

🧡💛💚💙 It means if the asset they're betting on, drops by 7.5%, they are Liquidated completely and bankrupt on the deal 🧡💛💚💙

[@jamesyoung6139]

I don’t agree with some of Chamath’s views, namely Tesla. However, the guy is class and a genuine intellect. Seeing him debate Leon Cooperman with reasonable arguments with him coming up with nothing more than babble was nice to hear.

[@DustinLives]

More Chamath.

[@SuperKillroy1]

Its crazy to go back ~ month and see how Chamath Palihapitiya predicated the future

[@remancyrodill4474]

11:52 Lmao. Chammath is dying inside.

[@SharisVoice]

Lol

[@carlosavila6474]

@@SharisVoice estan aqui por yolo aventuras

[@SharisVoice]

@@carlosavila6474 stupid

[@AdventuresInTheSky]

One of the best I’ve seen from CNBC in awhile

[@tanneroz5752]

Very poor interview. Interviewee was trying to help interviewers as much as he could but they did a very poor job even with his help. If Becky interviewed him alone, that would have been a much better discussion to listen to.

[@chavarriagomezalex5820]

El chico con quien estan hablando es un Hacker de yutuber de todos ya lo isieron con uno no se si vaser mas

[@Officialerikledezma]

Joe behaves like such a hater. Just seems Jealous & bitter at how smart & intellectual someone younger can be.

[@diadee3554]

Chamath for president!!!

[@samsfor9428]

Can we have Chamath permanently in CNBC

[@Cat-sl7tm]

Chamath, we need to hear you more often! You are clear, smart, honest.. we don't necessarily need to agree with everything but please create a youtube channel ;)

[@anahiceronmunoz5512]

Por que jakiastes los videos de los titanes

[@mattforthelikes]

Love Chamath. The most interesting thing to me about this video and many of the other big guests CNBC is that most of the guests and hosts speak many words but say very little if anything at all. Leon Cooperman is one of those swindlers. My personal favorite: "I've given away $700 million thousand last two years to charity."

[@keeganwebster3419]

$700 million to charity < $800 million to Virgin Galactic Warren Buffett: I would give all my money to Jeff Bezos before giving it away.

[@mattforthelikes]

@@keeganwebster3419 Is it $700m or $700 thousand in the past 2 years? In the video it sounds like he is correcting himself to say thousand. Can't find any external sources on the matter.

[@parannoyed3230]

31:10 It's interesting to hear Chamath say have "1% of you capital specifically in bitcoin" but the commentator jumps in "or crypto" NO - He said "SPECIFICALLY BITCOIN" .... NOT crypto, not any centralised or decentralised other Crypto asset or shitcoin.

[@CaliKing415]

Leon Cooperman < Chamath Palihapitiya

[@1010cryptosonny]

Where can I find the unedited version of this discussion.

[@TheGhostyb]

First time, that i saw a guest talk some much info ....

[@KevinMartinez-lo6gd]

Que paso con el canal de titanes vale!

[@andrewkay4746]

Chamath the brightest person in the room and they wont even let him talk. They mocked him for TSLA, look what happened there. Watch Bitcoin and SPCE over the next few years ....

[@marioeduardohernandez7775]

oye borraste todos los videos de los Titanes

[@bri-gr8wu]

Si lo hizo

[@carlosmonkee]

I see chamath, i simply click

[@petermitchell4523]

let chamath speak

[@UP-To-The-Time]

Why do they say this is the full interview when it's not...

[@gustavoazzo]

Leon Cooperman says "I dont care about money" then he goes on to argue how he wants to pay less taxes. How detached from reality, or how dissimulated someone can be....

[@s1u8n]

Chamath low key flexing lol nice.

[@mikenoelck7685]

Leon Cooperman unfortunately dominated this discussion. They should listen more and let their intellect superior Chamath speak.

[@als8627]

Could listen to Chamath the whole day. Very smart and well spoken.

[@nobody.123]

Low Yields + Cheap Capital + Increased Competition & Lower Management Fees = higher leveraged Hedge Funds. And I guess highly leveraged corporates, and VC’s as well.

[@mountainman6172]

It'd have been better if CNBC's Jon Fortt interview Chamath.

[@chavarriagomezalex5820]

de titanes ay aparesio el en vivo en la cuenta de ellos y ensima aparese el nombre del canal del hacter

[@martin231181]

As a person coming from Denmark, it would be nice that now that Denmark is a theme in American politics, if people realized that Denmark is not a socialist country. It’s an open market capitalist economy. Denmark has high tax and a big public sector, but it doesn’t make Denmark socialist. I don’t think that the US should copy Denmark. Any country can look at other countries and get inspiration for what they do well, but I don’t believe that exactly what works in one country works in another, especially when we are talking about countries of very different sizes. Also many things doesn’t work optimal here.

[@1flash3571]

Problem is that Sanders keep telling his audience that Nordic countries are Democratic Socialist Countries, which it isn't. He wants to dissociate from Countries like Venezuela to avoid scaring the people. Sanders is a Classic Socialist in a Democratic clothing. That is a very dangerous thing for us in the U.S. He is enticing the young voters that they are gonna get FREE STUFF. Of course those young ignorant people will agree to that.

[@martin231181]

Flash357 I agree, his rhetoric leads to confusion. Democratic socialist. It’s not called that, it’s social democratic, and it has very little to do with actual socialist systems like Venezuela where companies are nationalized and market prices are set by the government. We do have many social programs, but as a system it’s a open market economy here. In fact the majority of companies that were national in the past have been privatized. It’s true that we have a larger degree of public run services here than in the US, and we do have a higher degree of resource distribution trough taxation. It doesn’t make Denmark close to being a socialist country though. It’s a capitalist country with a high degree of social programs.

[@carrion_man3700]

Heated! I like it! Chamath on point, as usual.

[@imranmoonis]

Look how that turned out

[@booneguy]

I actually clicked on the video in hope of listening to Palihapitiya...then I saw Joe. Fortunately Becky and Andrew were present as well. Nevertheless, thank you for uploading the video.

[@Renould2010]

CNBC great broadcast, 💯

[@budgetingstrategies6240]

30 min video and only 5 minutes of chamath

[@danielking104]

DOW and S&P is not bitcoin. The ship takes time to turn around. Check back next week.

[@venkash22]

what does that guy Joe add to this discussion?

[@thomashuntsman9566]

Good job Chamath. Your analysis and perspective is impressive

[@luisochoa5550]

This moderator has done such a great job.

[@michaelstick8580]

I love Chamath's well thought out responses.Side note, He the reason I started to use use a 1/8 guard on my beard trimmer...not important.

[@jeoboden]

i didnt do enough dd on spce just like the price dd would have made me fomo like tsla

[@ioan_jivan]

The dude on the phone had very good points there. And people ignore them

[@isidorafuentesferreira4014]

Ese maldito chamath y otra persona hackeo el canal de titanes y chamath es un estafador

[@jsantan89]

Chamath is incredibly intelligent and speaks the absolute truth. Big fan

[@user-qy7sj9rz1f]

Que paso con titanes

[@hottiesoe87]

He was NOT going to let Chamath shed a peep at 23:00. Just blurting about Bernie

[@vk4633]

Anything Chamath touches turns gold, FB, Tesla now Virgin .

[@philipjones6584]

@V K and maybe Bitcoin...

[@raoufziad9576]

amazon

[@vk4633]

Philip Jones bitcoin I am not a big believer but yes Chamath touched it so it’s Gold. But he might get out of it anytime.

[@arlenedelvalle8874]

Thank you CNBC

[@AverageAngel]

great to hear from Chamath Palihapitiya as always

[@j6873]

"We [Virgin Galactic] have a plan to get to sustainability [green energy]" That was maybe the most important thing Chamath said during this interview.

[@yuanjiazhu7940]

If by 'important' you mean 'ensuring his demise'? Yes.

[@nikolasalmodovar6420]

Can anybody enlighten me about "snake" sound? Why it's there? So bizarre.

[@natureawaken3056]

Chamath the wisest in the room! Do not worry about politics because the techno sourcerers will put chip in your brain !!!

[@AmeyChaudhary]

only becky should be interviewing Chamath. Cut loose other two clowns.