Chamath Palihapitiya – The Major Problems Facing the World

**Patrick O'Shaughnessy** (0:00)
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Hello and welcome everyone. I'm Patrick O'Shaughnessy and this is Invest Like the Best. This show is an open-ended exploration of markets, ideas, methods, stories, and of strategies that will help you better invest both your time and your money. You can learn more and stay up to date at investorfieldguide.com.

**SPEAKER_2** (2:13)
Patrick O'Shaughnessy is the CEO of O'Shaughnessy Asset Management. All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of O'Shaughnessy Asset Management. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.
Clients of O'Shaughnessy Asset Management may maintain positions in the securities discussed in this podcast.

**Patrick O'Shaughnessy** (2:38)
My guest today is Chamath Palihapitiya, the founder and CEO of Social Capital, whose mission is to advance humanity by solving the world's hardest problems.
I didn't know where this conversation would take us given Chamath's wide-ranging activities and interests, but I think it provides an interesting glimpse into some of his core beliefs and the source of his personal drive. In our wide-ranging conversation, we cover potential paths to closing the income inequality gap, how to manage one's personal psychology, his perspective on value investing and tackling climate change. I hope you enjoy my conversation with Chamath Palihapitiya.
Chamath, I don't know where to start this conversation, we're going to talk about 50 different things. I've been looking forward to this for a while. Maybe I'll start somewhere completely non-traditional that I don't see you get asked too much about on these podcasts, which is the topic of personal finance. We'll definitely talk about the categories of your investing and capital markets and the future and all these great topics as well. But maybe we'll begin very small with just individual personal finance. The reason I'm interested in your opinion here is what you've had to say about student debt and the really interesting story about $27,000 of debt that you once had, which I think was a part of your early motivations and thinking about risk. Maybe tell that personal story and then talk a little bit about how you think about personal finance as a topic.

**Chamath Palihapitiya** (3:52)
Maybe I'll go back even a few years earlier, but when I was 14 years old, my first job was at Burger King. I cleaned the toilets and mopped the floors. And the greatest part about that, I remember how much I made $4.55 an hour. But the greatest thing about that job was the manager at the Burger King had one of those university varsity jackets.
He had gone to University of Waterloo, which is ultimately where I ended up going.