Who will be the first trillionaire? | Chamath Palihapitiya and Lex Fridman

Lex Fridman Podcast full episode: • Chamath Palihapitiya: ...
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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.

[@vidseo3149]

Lex I reported the fake whatsapp messages you need any mods I'm available 24/7

[@damanhagene1736]

I followed Chamath when I began looking into investing during the investing boom of 2020. He went from legitimate to looking for capital within multiple startups real quick. Thing is, his foresight always made sense regarding the markets, economy and his companies' pursuits. Its good to see him on Lex's show and I'll listen to the whole thing but I think I'm still a skeptic as he's still a venture capitalist with who knows what intentions.

[@chasericker956]

You're not alone. I don't think he's the investor he presents as

[@MADMAX7330]

I can't trust Chamath. I've seen through his intentions numerous times now, and all his unloading of shady SPACs and bailing out of them has confirmed this. My first red flag was him shilling for bitcoin by asking people to turn off their brains and dump 2-4% of their networths into it. And now, he's suddenly realized that crytpo has become a ponzi, and is skeptical of its actual value.

[@martingaledaily6426]

the dude crashed solana and said he doesn't care about the slavery of the Ughurs. He doesn't give a fuk about you

[@mustafahussein9238]

He's a scammer

[@AloysiusHettiarachchi]

​@mustafahussein9238 If the guy is scammer what did he do in FB at the beginning to get rewarded. Do not make that kind of derogatory statement my dear fellow.

[@buffaloshite]

I was a Trillionaire before when I was in Zimbabwe. It was pretty cool, I even bought a goat! Also Zimbabwe is geographically beautiful, and the Zimbabwean people are some of the most kind and resilient that I have met of any people anywhere.

[@woogieboogie3889]

Lol

[@TheBruceKeller]

No lie, Africa has some pretty amazing locations. It's not all just jungle and desert. Ethiopia has some places that look like you're on another planet.

[@Blues3088]

@@TheBruceKeller Which one? Most I've seen looks like appropriated ME culture. Nothing special.

[@TheBruceKeller]

@@Blues3088 1) What

[@shin9r]

Wholesome comment with a hint of sarcasm, nice one

[@bassfaceinspace]

What an amazing conversation these two have. Would love for him to be a regular guest.

[@tommyhuffman7499]

It felt like he was spouting disconnected talking points. The trouble with energy is that it's difficult to make a monopoly off it. Most of the wealthiest businesses get there by creating a monopoly off a business that is widely used in the Western world (Walmart, Amazon, Microsoft, etc). Oil can only be monopolized in certain countries. I can't imagine nuclear being monopolized anywhere.

[@tommyhuffman7499]

It's not a technical monopoly. But if you made a spectrum, they are higher on the monopoly end of things.

[@andymc1110]

TL/DR version: Lex: Will Elon be the first trillionaire? Chamath: No, it will be me. For the same reasons that Elon would be, except my ego can't admit Elon exists.

[@d3r4g45]

Elo is just a meme clown. Of same level of crypto or wallstreetbets. Same fate awaits him.

[@badstar9670]

What do we do about the fact that oil companies have been buying and benching great patents that would solve many of our issues, but they keep that on the DL to keep oil on top

[@vidseo3149]

Already have them

[@dylanfgarrison]

Uhhh… average cost of a new car in 2022 was $47,000. Average EV was $66,000. So his comment about the $7500 credit is quite a was off.

[@TJ_Silvester]

I think someone in Saudi is probably already there. They've been making anywhere from $500M to $2B per day via oil for the last 50 years.

[@Tain950]

Truth is we don’t really know how much some of those oil Tycoons in the Middle East are really worth. I believe there have already been trillionaires it’s just been unconfirmed.

[@drewgoodman7932]

Lez, please have Tony Seba onto your show.

[@woogieboogie3889]

Who ever builds/owns the patents/structure of the first fusion reactor.

[@wendyg8536]

When somone understands, realises and knows their purpose, their reason for incarnation in this life, they have fine tuned their path, focused energy, and have saved themselves from a future of missteps and uneconomical direction. The true path of incarnation is flowing, fortuitous and abundant with synchronicity.

[@pinhigh1]

I think we already have at least one??? No one truly has any idea of how much $$ the House of Saud really has. It is definitely in excess of $1.5T

[@mayankbaunthiyal]

He did not explain the demographic case he was making for his success vs someone younger.

[@Friendznco]

Yes he did, in essence it boils down to being in the right place at the right time. In his case it was being in Silicon Valley at the start of the tech boom, although if you read between the lines of what he is saying he's saying that the money in tech has already been made and more than likely if you're a young person entering that space you will not reach the level of success and wealth that his generation made in the industry.

[@khanf13]

@@Friendznco exactly!

[@TT-uy5el]

I wonder if we are thinking about the problem incorrectly. What if the answer is de-centralization of energy production / storage. Instead of a single person being the trillionaire; that capital is distributed amongst many "investors" people that invest in their own homes instead of paying a power company.

[@kokofan50]

The inefficiency of small scale production means that’s never going to happen

[@jonrussell739]

The material costs and logistics sourcing of EVERYONE having to have energy production / storage kills this idea every time. The sooner people move on from the solar dream and shift to nuclear, the sooner we can mitigate climate change. There is no other promising solutions I've seen proposed.

[@TT-uy5el]

@@kokofan50 True, for technology as we know it. Maybe a large company can manufacture something that individuals own. Idk. I have worked in a number of legacy companies in the aerospace, and energy industries. And all I can say is that innovation is not on their to do list. The only innovation that exists is in their mission statement. Thats about as far as they get. I'm skeptical of a typical top down approach, at least in our lifetimes. Even if energy costs are super cheap distribution costs aren't cheap

[@TT-uy5el]

@@jonrussell739 I think solar can be applied in certain environments. Especially more rural locations. Because even if energy is cheap but you live far away from the generation facility and populations density, the distribution costs and maintaining it will be high. Its probably a variety of solutions. But I think for high density population areas nuclear is the best option. I didn't communicate well, I didn't mean that each person manufacture their own system. Probably a large company will make the generation device, but having the power generation in a single location like we have today, may not be the best option for all situations. Also I wonder how much opportunity there is in energy efficiency for the average household. The solution might also be creating new types of houses that are better at being energy efficient. prodominantly maintaining temperature. is there a study that says an average house (idk 1600 sq/ft) if it is x amount efficient with solar panels can be self sustaining. idk . I'm pretty drunk though. Have a great day

[@jonrussell739]

@neal cassady what if I told you oil companies invest in "green energies" that don't work? It is like plastic. The plastic companies put out the propaganda that it is on the consumer to recycle and take responsibility for plastic not being all over the place. If they had to pay for the full lifecycle cost of plastic, they wouldn't produce it.

[@a.wagner7985]

Lex why do your backgrounds change so mutch????

[@MMATopGs]

He conducts the podcast in guests' places

[@benpiriz4386]

Greed eventually weakens those who get engaged.

[@michealfletcher3671]

I'm pretty sure either there is a Saudi or a cartel member that holds this title already..

[@MaxMohammadi]

Why does Chamath never answer questions with straight answers. He beats around the bush soooo much

[@SPEARHEADGLOBAL]

Maybe because some questions are not subject to direct answers, and to answer them one needs to understand the question itself

[@mensrea1251]

Because he thinks a lot. And true answers often require complex set ups to convey accurately. What a sin that is.

[@martingaledaily6426]

he's a con artist

[@mensrea1251]

@@martingaledaily6426 I can say that about your mother. See how easy it is to just say shit?

[@mjakotka]

he is a charlatan like j.peterson. word salad even in case of the simplest thing.

[@chrischristopher1312]

Why’s he talking like Trillionaires don’t already exist. Look at the Saudi royal family lol

[@Alexander-hx7fx]

You said it. „Family“ not person.

[@moseshanon7060]

Thank you! Like Russians. Trillionaires have always existed. They’ve never had to report it.

[@Alexander-hx7fx]

@@moseshanon7060 bs. Every people want tonshow theor welth. No king etc. hided its empire on the past. And no one does it today.

[@matthewevans3718]

@@Alexander-hx7fx people absolutely do lol the fuck r u talking about. The USA has a long history of denying its empire status. For private individuals there’s a trillion good reasons to hide the fact your a trillionaire

[@jaimerodriguez1550]

They a ain't self made individual Theyre not advancing technology and society through their product.

[@Brain_With_Limbs]

Michael J. Saylor will be the first trillionaire

[@SpiritusBythos]

So if we base a culture on healing and cooperation and mutual growth everything will be better?

[@kca698]

rug pull guy !

[@villageidiot9729]

SBF will be, with his 10 roommates and the pizza party

[@SovietRosco]

This dude is IN THE LOOP AND 110% RIGHT

[@MusicaX79]

The correct answer is: John D. Rockefeller

[@iananderson8288]

99% of Americans will never come close to $1 million. Think about how much money $1 BILLION is, it's unfathomable

[@n8pronouncednate858]

I have seen several clips from Chamath. I’m not impressed.

[@teddyruxpin3811]

I minted 1.1 trillion of my own ethereum tokens and then sold one for $1. So technically I am now a trillionaire.

[@iHeartEyeLadies]

This is comedy of epic proportions

[@Zayden.]

There should be no billionaires. Productive property should be publicly owned.

[@happymolecule8894]

The generation thing is so true, this guy is pretty smart.

[@mikenewbold1699]

being rich doesn;t mean you are smart

[@happymolecule8894]

@@mikenewbold1699 Yes it does. Wealth correlates heavily with IQ.

[@bubsadoozy]

@@happymolecule8894 IQ is a laughably weak method of assessment -- also wealth is largely inherited.

[@happymolecule8894]

@@bubsadoozy No it's not. 88% of all multi millionaires did not inherit it.

[@trtvitor1385]

@@bubsadoozy 94% of the 1000 richest people in the UK are self made.

[@yzstriderz7772]

Chamath is right about one thing, his life has completely been lucky. That's why his answers sounds smart but are in fact generic or beat around the bush as some comments have pointed out. Yes, he is wealthy. Yes, he's been "successful", but if you really dive into his background, he hasn't really done much himself. But let me be clear, I don't hate on him because of that. Luck is an inescapable truth. This is just a warning that don't believe the words of someone or hold someone in higher esteem just because they've been "successful". Much of success has nothing to do with hard work or ability.

[@mensrea1251]

You make it sound like sustained success in any endeavour has zero to do with ability and effort and solely to do with luck. That is manifestly false, except in the minds of losers who take refuge in nihilistic shibboleths to make their miserable lives somewhat bearable.

[@therearenoshortcuts9868]

Read the title as: "Who will be the First Trillionaires???......... Chamath and Lex" (aka YOU guys will be the first LOL)

[@kynismos]

Inflation will create quite a few trillionaires.

[@AloysiusHettiarachchi]

Hello, Chamath you are spot on. Mid 80s I was given tickets for the whole family by one of the richest men in the world. I declined to take the offer. There are few ways to realise that dream of harnessing the energy coming from the sun. Contact me if you can.

[@monikajurkovic7817]

Fusion. But as we learned from history it's not going to make the true investors rich....

[@gtaRadi0]

The advantage of being Gen X instead of Millennial Gen Z isn’t talked about enough.

[@ReiThaKing]

I got there today. Not that cool to be honest

[@skinnymoonbob]

#Tesla 🤔

[@blackcatvibing]

What is he talking about he's so confusing

[@moseshanon7060]

That’s ‘cos he’s a nerd.

[@anthonyrude]

King Solomon already owns this title... Sorry guys you'll not be the first.

[@richardlecomte4874]

The Saudis already have trillionaires

[@jeffreyrapaport6588]

This is great

[@jonnydroo]

Reggie Middleton?

[@GoodlyRogue]

"Computational biology will replace white chemistry". I'll act like I understood that. 😅

[@dominicellis1867]

It’s treating DNA and protein structures as computer code. It’s the newest scientific field with large aspirations. That and quantum computing will either save or destroy the world.

[@mensrea1251]

@@dominicellis1867 … or arrive way later than anyone outside the small cohort of people who really know those fields realize.

[@Amerikingswillbilli]

Uh no the person who owns the patents on primitive AI.

[@bydefault7795]

I hate coding in any language that has dollar signs splattered throughout the source code. Ugly.

[@RickySmithNow]

i will be the world's first trillionaire and the sector will be entertainment. 🔮 have a nice day :)

[@adigitalsmith]

Muhamed Bin Salam already is just look at his spending duhhhh

[@ronaldgarrison8478]

Oh wow, I thought we Boomers were the ones who had everything handed to us, around whom the World revolved before there were so many of us and it created a youth-oriented culture. Now along comes Chamath, saying what sounds like the opposite. Could it be that the reality is much more complex and uncertain than either of those views?

[@ronaldgarrison8478]

For the near future, energy and climate will be huuuuuuge. Long term, energy will be cheap. The economy is all bubbles. One after another. And that's OK.

[@ronaldgarrison8478]

In that analogy, I suppose North Carolina would be a noble gas. And Florida would be radon. Yeah, always thought they were dangerous a.f.

[@bighock2886]

The middle east has trillionaires already. Oil oil oil

[@djammer]

The answer is Elon without a doubt. And it will happen within this decade

[@xxxs8309]

It will be Musk

[@svengalilord]

Saudi prince is already the first trillionaire

[@Thomas-gh5dt]

Thought Lex was 29ish.

[@marilyng8127]

Really?

[@BobLee-sf6mv]

I only care who will take human to land Mars

[@blue7lvn245]

lol tldr, there are bunch already, stop looking at forbes or Bloomberg

[@KL-nm6nl]

Hopefully no-one.

[@hole62]

Obviously Elon lol

[@TV-xm4ps]

Whoever it will be, the world is broken if individuals can accumulate that type of wealth.

[@jes6867]

The world would be broken if that wasn't possible.

[@novamonkey2727]

I personally disagree with his point about demographics - wouldn’t a larger cohort actually lead to more opportunities for wealth? I understand there are only so many individuals per field which can be in the positions to realize great influxes of wealth, but with more people comes more opportunities I believe .

[@posiadekola7491]

absolutely not Larger cohort does not equal more opportunities. Greater Opportunities for wealth is not dependent on cohort size at all - You cannot give me a single example where this is the case. There would be other dependent variables that determine greater opportunities for wealth (which is what you meant to say). E.g. number of educated people... You can't really disagree with his point about demographics if it's based-on Facts - i.e. Quantifiable variables like I just gave ^^. You may disagree to what extent on his point...It just doesn't make sense to just say more people = yAyY mOrE oppOrtUnitiEs. Illogical and That's counter-intuitive 's Respectfully :D

[@mensrea1251]

You must have failed school. No, just no.

[@posiadekola7491]

@@mensrea1251 Damnn :/ In 2 sentences you managed to look stupid, that's impressive. Pat yourself on the back.

[@mensrea1251]

@@posiadekola7491 Congrats to you too - another guy who flunked school.

[@novamonkey2727]

@@mensrea1251 why the negativity man lol? It’s not okay to disagree anymore? I’m actually an undergrad rn at what’s ranked a top 15/20 US school but aight lmao

[@gorillaman283]

Me

[@Fightesst]

The most important question of our life time

[@strawberryzebras6725]

Energy will always be THE question of LIFE 🧐🥶

[@blackcatvibing]

@@strawberryzebras6725 ✋😲

[@DjDugiUK]

Jacob Rothschild already is.

[@Fufu0117]

No he's not

[@DjDugiUK]

@@Fufu0117 yes he is.

[@Friendznco]

@@DjDugiUK No he isn't, the Rothschild family is obviously wealthy but their investment bank (the source of their personal wealth) is irrelevant in the financial community.

[@generichuman_]

Hopefully no one will be the first trillionaire... because that's absolutely ridiculous. There shouldn't even be billionaires. If you disagree, it's probably because you don't understand how staggeringly large a billion and a trillion are. There's no on in the world that works hard enough to "earn" that amount of money.

[@pjetrs]

True, especially if you think about how many “future Elons” right now don’t have the opportunity to change the world, let alone have a steady supply of food. There is no need for a single person to have that much money, I even think the whole “spending all my money on food causes” thing is ridiculous, because they arebasically retrospectively trying to fix a problem that is partly created by the same money making machine that made them rich in the first place

[@pjetrs]

*good causes, not food causes

[@iceman18211]

Disagree, great capital allocators deserve to be disproportionally rewarded. Hopefully one day there are multiple quadrillionaires.

[@robyhartland852]

I disagree. I do understand how staggeringly large those numbers are. And I believe it's mistaken to attribute money to how hard someone has worked. Money is a transferable vehicle of value provided. So being the owner of the mass production of massive value that affects billions of people is what makes a billionaire/trillionaire. Not how many hours they worked or the difficulty of that work.

[@nothingtoseehere96]

If you actually create value, I think it's fine. If not, then no. Let's say for the sake of argument, someone creates medicine that cures all disease, creates cheap food without any abuse of people or animals, solves clean energy, and creates a perfect entertainment platform for sports and media. In this fake world, where are you going to draw the line and go "no, we are going to stop you or take all your money because there should not only be trillionaires, there shouldn't be billionaires either. We're going to take 99% of the money you make, even though you do it ethically, are solving all the world's problems, and people are willingly purchasing from you because you give them the best products. If your only argument to thst is "by definition, if someone is rich, they did it unethcially," then you are not a serious person. You have no standard of good or bad and just use money as a proxy for evil and corruption rather than as a proxy for competence or social value creation.

[@KB-lv3vo]

What do you mean first trillionaire? Putin is alr a trillionaire.😂 Just that he hid his asset away. And also all those saudi arabia oil owner XD

[@zants_]

There's no shot Elon makes it there before the bubble finally bursts for his overpriced stock.

[@jw8968-z6g]

He lost me at "I think president Biden has done a really incredible job".... Um, nope.

[@Fufu0117]

Awe. Admitting people you dislike actually exist in reality and aren't black and white bad or good, scares you huh

[@to8860]

Our government will never allow a single person to be a trillionaire....just sayin...

[@Alexander-hx7fx]

They cant do shit against it. Elon will become the 1. the next 5 years easy.

[@joomy8898]

Chamath the spac scammer lol yup got ur money in his bag

[@rodp7803]

Trillionaire talk is absolutely egregious, 25,000 people die from starvation and related causes PER DAY. Stop promoting wealth as something to envy.

[@Alexander-hx7fx]

Hunger is a structural problem. Not a money problem.

[@iceman18211]

Disagree, great capital allocators deserve to be disproportionally rewarded. Hopefully one day there are multiple quadrillionaires. Wealth is just the ability to act at scale, nothing to fear or admire it's just a tool.

[@matthewevans3718]

@@Alexander-hx7fx and money is a huge part of that structural problem

[@Alexander-hx7fx]

@@matthewevans3718 No it isnt. Money wouldn solf 1% of that problem in long term.

[@matthewevans3718]

@@iceman18211 all the great capital allocators are bankrolled by publicly funded subsidies. You want there to be quadrillionaires? Do u have any idea as to how that metastasized power will fit into any non totalitarian model? Billionaires already bought our democracy, is not having private citizens with more capital power than many nations an unchecked power in our supposed balance of powers?

[@mustafahussein9238]

This guy is SPAC scammer

[@MaxMohammadi]

Just lost all respect for Chamath when he said the population distribution in America is a pyramid. That's literally false

[@paulheydarian1281]

He misspoke. Population and Pyramid are two words that typically go together.

[@firstnamelastname9215]

Jeff Bezos for sure

[@Alexander-hx7fx]

No.