Since he was getting so much attention about his statements about letting hedge funds and other organizations fail, I decided to check out Chamath Palihapitya, and what he has said in the past.
Billionaire and former Facebook executive Chamath Palihapitya spoke at Stanford in 2017. The moderator asked him what advice he had for those in the audience. His advice was to get the F**king Money, but don’t be a sell-out. Sorry Chamath, but this impossible and everyone who has accumulated vast sums of money, is, by definition, a sell-out.
Money does not appear out of thin air. There is always a payer and a payee. Which means, if you’re collecting (hoarding) resources in this world, someone else is parting with theirs. You cannot be a billionaire and have a moral compass at the same time. People are being exploited all around the world and this is well-known. Any sort of production almost always results in exploitation. These huge margins are only made by shorting those that create value.
Once you get the money, that’s when you start being charitable? Fat chance. The charity is the means by which you exert your power on the world, where you become relevant and important.
Here’s an idea, as you build your business, you pay people living wages, you pay your fair share of taxes, you only pay yourself what you need to live comfortably. How about you never get the f**cking money in the first place, because you’re spreading it as you go so that other people, working for you or with you, can raise their standard of living as your enterprise grows.
It seems obvious that Chamath is fully invested in his individual worldview and is opposing it onto others. In fact, this is his stated goal – to push his worldview out into the world using his power.
A charitable billionaire is the illusion itself. There is no such thing.
Even our “The Black Swan” author “Nassim Nicholas Taleb” states, “I remember in my early trading days, …when money was starting to become easy. I would take taxis, and if the driver spoke skeletal English and looked particularly depressed, I’d give him a $100 bill as a tip,… I eventually stopped; we all become stingy and calculating when our wealth grows and we start taking money seriously.”
“I remember in my early trading days, …when money was starting to become easy. I would take taxis, and if the driver spoke skeletal English and looked particularly depressed, I’d give him a $100 bill as a tip,… I eventually stopped; we all become stingy and calculating when our wealth grows and we start taking money seriously.”“The Black Swan” by Nassim Nicholas Taleb
That checks out. With money you achieve power, and as we all know, power corrupts. The charities to which you so publicly donate, their very existence is due to your existence as a billionaire and those like you. No Chamath, that was the worst advice, and if everyone in that room did just that, then our world will be worse off because of it.