Chamath Palihapitiya on SPACs, Bitcoin, and the New World of Finance ( w/Raoul Pal )

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 28 December 2020

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chamath Palihapitiya, CEO of Social Capital, gives Raoul Pal, Real Vision CEO, an inside glimpse of the seismic forces that are radically transforming the investment landscape — from SPACs and tokenization to data autonomy and virtual learning. Palihapitiya argues that old structures of capital formation, which prioritized buybacks rather than Research & Development (R&D) and "efficiency" rather than resiliency, will give way to a new future in which fintech companies will replace "too big to fail" banks, green energy will de-escalate geopolitical tensions, and tokenization will serve as a digital ledger for every financial transaction. Palihapitiya and Pal discuss the role of Bitcoin in this new world, and Palihapitiya advocates for a form of Universal Basic Income (UBI). Key Learnings: The old ways of managing companies and allocating capital were unsound, and COVID-19 has laid bare the fact that the "emperor has no clothes." With radical change is on the horizon, investors should embrace these technological transformations in order to become a magnate of the future. Recorded on November 16, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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0:28.2	today. Chymouth, great to get you on Real Vision. You're one of the people I really, really
0:41.8	want to sit down and talk to because you kind of cover all sorts of spectrums and I think there's just a lot to dig into.
0:49.6	Before we start, your story I think is amazing I'm you know the son of an Indian
0:55.6	immigrants to the UK and you have a story as well I just think it's just part of
1:01.9	you and part of your character and I'd love you to share
1:04.8	some of that coming from Sri Lanka.
1:06.8	Sure well first of all thanks for including me I've been a fan of yours for a while so it's great to be on. The short version of the
1:16.8	long story is I was born in Sri Lanka and at the age of six my parents were posted to the Sri Lankan High Commission in Canada and so we moved to Ottawa myself and my sister and my parents.
1:31.3	In the middle of that tour of duty there he was supposed to be there. sister and my parents.
1:32.5	in the middle of that tour of duty there, he was supposed to be there for four years, he was
1:35.9	sort of a, you know, mid-level kind of diplomatic person there.
1:40.6	A civil war really accelerated and at the time there were multiple factions fighting each other.
1:48.9	There was the Tamil minority fighting for a homeland in Sri Lanka, but then there was also an extremist single-time. a you know firm response. Long story short my dad who's a pretty devout Buddhist wrote
2:06.7	some articles he got in a lot of trouble his life was threatened and we filed for refugee status and the Canadian government gave it to us.
2:19.3	And then, you know, it's a typical kind of hard-scrabble immigrant story. You know you kind of you go off the government dole
2:26.3	We grew up on welfare my mom was a housekeeper
2:28.7	Then a nurse's aide my dad kind of bounced around jobs for a while. I went to school in Canada,
	...

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