Palihapitiya & Social Capital as the new Buffet & Berkshire Hathaway?
Billionaire Chamath Palihapitiya (owner of the Golden State Warriors, Chairman of Virgin Galactic, & Founding GP of Social Capital) spoke on Anthony Pompliano’s The Pomp Podcast yesterday. It was the best macro & tech view I’d heard since Raoul Pal’s in early March.
I will not be surprised if by the end of the month I still think this was the best podcast of April 2020 — and it will probably go in the top five for the year along with the Raoul Pal one. I filled four pages of notes and have distilled what I think are the key themes:
“Following The Breadcrumbs”
Chamath advises everyone to “follow the trail of bread crumbs” in any company/sector right now. He notes that this is not a sector-based drawdown we are experiencing, but more akin to a depression with 15–20% unemployment that will affect all industries since the macro economy is an “interconnected web of businesses.” He predicts a resurgence in Zero-Based Budgeting that will leave most “Nice-To-Have” products/services without revenue and even many “Need-To-have” products/services without revenue.
