Chamath Palihapitiya: Why Bitcoin Will Be 'the Category Winner' - Ep.178

Chamath Palihapitiya, the CEO of Social Capital and chairman of Virgin Galactic, talks about a wide range of issues, including Bitcoin, COVID, civil unrest, and broad economic trends and forecasts. We discuss:
Whether his economic forecasts have shifted throughout COVID Why he believes a debt crisis will occur How he views the success of BTC as a hedge against the ruling class How the economic pendulum will swing back toward consumers Why he doesn't mind if big corporations and hedge funds get wiped out Whether he subscribes to the thesis that Bitcoin is uncorrelated  Why the pandemic has not spurred institutional adoption of crypto Why he sees no merit in Ethereum How the economy will become more decentralized in the future and whether blockchain will be a part of it  Why he prefers SPACs over ICOs Why he started capital as a service  Why he believes the government should bust up large corporations Unchained is hiring!
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Episode links:
Chamath Palihapitiya: https://twitter.com/chamath
Social Capital: https://www.socialcapital.com/
Turmoil at Social Capital: https://www.theinformation.com/articles/social-capital-founder-gives-his-account-of-turmoil-at-firm
https://observer.com/2018/09/chamath-palihapitiya-social-capital-turmoil/
https://medium.com/@chamath/the-reports-of-our-death-have-been-greatly-exaggerated-11bcc80ee4ab
2019 interview with Kara Swisher: https://www.vox.com/podcasts/2019/3/4/18247010/chamath-palihapitiya-social-capital-happiness-identity-crisis-kara-swisher-teddy-schleifer-podcast
Chamath on Recode Decode in 2020: https://podcastnotes.org/recode-decode/chamath-palihapitiya-kara-swisher-investing/
Fed buying up to $250 billion in individual corporate bonds: https://markets.businessinsider.com/news/stocks/federal-reserve-begins-individual-corporate-bond-purchases-secondary-market-relief-2020-6-1029309910
CNBC interview where he says Bitcoin is an uncorrelated hedge: https://www.youtube.com/watch?v=-2gDmcU8bDw
https://www.cnbc.com/video/2017/12/12/social-capitals-palihapitiya-bitcoin-is-going-to-1-million-in-the-next-20-years.html
SPAC: https://www.wsj.com/articles/the-modern-ipo-is-useless-lets-reinvent-it-1506361770?mod=searchresults&page=2&pos=13
China’s blockchain efforts: https://www.coindesk.com/from-banking-giants-to-tech-darlings-china-reveals-over-500-enterprise-blockchain-projects
Capital as a service:
https://caas.socialcapital.com
https://medium.com/social-capital/from-experiment-to-product-capital-as-a-service-one-year-later-6d8b4b9c038b
2019 investor letter: https://www.socialcapital.com/annual-letters/2019
At Stanford GSB: https://www.youtube.com/watch?v=PMotykw0SIk