Life, wealth, and values according to Chamath, an early executive at Facebook turned angel investor and former Golden State Warriors minority owner.

-be emotionally rich and available

-be coherent and honest with other people

-take the advice of others but carefully consider how it applies to you

-family, health, knowledge. Next are work, money, friendships

-subscription based relationships with customers in tech are the future industries and companies to succeed.

-Average company in S&P 500 down from 50 years to 20 years, projected only ten years starting in 2035

-only two types of companies now: the disruptor and the disruptive

-be really good at one thing to succeed

-practise is what you can control, the results not so much

-success comes from what you do all the time, not the occasional hard work times. It does not come by luck or chance

-in moments of failure, if you really internalize it, you can determine who you are and aren’t, what you are good at and what you are not good at. If you accept yourself, you can become very powerful internally

-defining your sense of self worth from success is just not sustainable

-failure is good, the key to success, builds emotional and mental resiliency

-people are telling you everyday passively or actively what’s in their heart and mind

-people often confuse luck and skill

-Airbnb: could be the next big company as it has more of a monopoly and more pricing power

-in order to be a good investor, one has to be able to get beyond the superficial stuff and actually be able to figure out what actually matters and what is actually the truth

-people move from pendulums, extreme to extreme without much balance

-the next 10-15 years will go back towards the other way, more towards socialism and protectionism, populism and protests is just one symptom of dissent. Bad companies who don’t focus on basic fundamentals will go bankrupt, so more companies will go bankrupt. Could he be implying these SoftBank investments?

-recommends travelling; people who travel more are more open-minded, adapt to change quicker and live better lives in general!

-the next crisis is an emotional crisis

-be a good copier of people who have succeeded and pick up the good qualities

-150 men control most of the world

-new companies have to be technological, stand the test of time (hard and slow growth and not obvious), you have to be in for decades

-failing fast is good to solve psychological problems

-technology programs our behaviour

-Economic incentives drive the entire world; people act predictably with it, unpredictably without it

-if you don’t have capital, you are irrelevant in capitalism

-only 2% of venture capitalists repeat on successful ventures

-hard to connect with others if you are always in your own mind or thinking about yourself

-very easy to get drunk on money or power

-it is okay to not know

-changing your mind is a good thing

-the longer it takes to build a business, the longer it takes to destroy it. Same with the converse.

-do things that will train your brain to be on a healthy path, a long term thinking method

-The propensity for taking action right now should be banned. Sees 25% unemployment in the US, same as Robert Herjavec

-He sees worse downturn coming and that now is not the time to be buying

-He thinks retailers and movie theatres may go bankrupt and have there land purchased in the cheap by companies that need distribution and location, such as Amazon. He says a slow ripple effect will hit other industries, like a rock thrown into water, farther parts of the lake are also affected

-“Carnage is coming”, particularly to software and enterprise companies

-One dimensional companies will suffer the most that mostly rely on one type or stream of revenue. This is why amazon isn’t dropping as it is a multi-tiered company

-A deflationary period is coming which will lead to more protectionism

-Pensions will have to be bailed out by the government. So even more government debt is coming to the world, which will lead to even more money printing

-Companies everywhere of all kinds are asking for government bailouts, it will be hard for government to be selective

-The US government may need 20-50 trillion USD to save pensions, private and public companies, unemployment benefits, health care, and everything related to the US

-Chamath also thinks If we enter a decade of deflation or low growth or extended recession and slow recovery, weak countries get hurt more and this could strengthen the US dollar

-Cleans the house every two days during this down time coronavirus, does not hire people to do it

-People are trending towards nationalism

Disclaimer

This is not Financial Advice. This article is meant only for educational and perhaps entertainment purposes.