Tackling Diversity, Investing, & Politics with Chamath Palihapitiya at LAUNCH Festival 2016

sydneyverifiedco-creator of Commaful
Autoplay OFF  •  a year ago
Notes from Chamath's talk at LAUNCH Festival 2016

Tackling Diversity, Investing, & Politics with Chamath Palihapitiya at LAUNCH Festival 2016

Key Points from Launch Festival 2016 Talk

The morality of the US is changing.

It's not as unacceptable to lie as it did before. That's why Trump is able do well. For example, the culture Tinder is creating today, something morally wrong 15 years ago, but not acceptable

I will shut down Social Capital

And use the Facebook growth team that got it to 1B users to get Mike Bloomberg elected. Because the party system in the USA is terrible.

40% of startups should never have gotten $ in the 1st place

They will fall by the wayside. We are in the 2-3 year cycle of eliminating this group. The outliers and middle group will be what's less.

Don't spend money on expensive offices

Focus on the basics, focus on the keys, hire great people, grow the sales, and you'll do fine. Things will be fine.

Psychologically it is much harder to start a business today

18 months ago, it would have been easy to raise money and run forward. Now, it takes longer to raise money on a lower valuation. You're forced to REALLY decide. Do you want to do this?

Compete really hard at everything you do

But play by the rules. It needs to be fair. Who gets screwed when Zenefits doesn't play by the rules? The employees.

You want to be with winners

It is best to be the worst player in the best team than the best in a worse team.

"I want to be like that guy, he is like me, I can do it too"

It's about giving people an opportunity and creating role models for everybody. That's what we want to do to solve diversity.

The VC establishment is old, white, male...and FUCKED.

Early Stage Investing = Don't Miss

Empathize with the entrepreneur. Women do this better. My wife was 100% as a picker. Dudes are sloppy at picking.

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@andrew agreed :) I remember Naval had a really great quote. If you want to learn and move faster, surround yourself with the best people (and you'll never feel satisfied). If you just want to be happy and you're satisfied with learning, be the smartest person.

a year agoReply
"You want to be with winners". So true. Being around great people enables everyone to push their limits. They can trust each other more easily. And it forms strong bonds to congratulate your teammates on big wins and for them to do the same for you.

benjSilver CommaStoryteller
a year agoReply
Wow he really speaks his mind haha. I loved this

lisaSilver CommaCats
a year agoReply
Silicon Valley will not be this overhyped place anymore!