The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Should CSE be like this? Whose FAULT is it?
Today at 5:14 pm by Ethical Trader

» Dividend Announcement
Today at 5:04 pm by Ethical Trader

»  Woman finds frog parts in her packet of 'kottu'
Today at 1:47 pm by serene

» Debenture issues
Sat Jul 14, 2018 10:34 pm by Danidu

» Quick Checklist for Selecting a Stock
Sat Jul 14, 2018 11:42 am by slstock

» Hello and CSE ?
Fri Jul 13, 2018 10:05 am by slstock

» Films - To Watch List
Fri Jul 13, 2018 8:15 am by yellow knife

» කොටස් වෙළෙඳපොළේ ආයෝජනයේ දී දේශපාලන සබඳතා අනාවරණය අනිවාර්යයි
Thu Jul 12, 2018 9:02 pm by spw19721

» ගුහාවේ සිරවී සිටින දරුවන් පිටතට ගෙන්න මාස 04 ක් ගතවෙන ලකුණු
Wed Jul 11, 2018 7:43 am by serene

» කොළඹ කොටස් තවමත් අවුරුදු 8 කට කලින් තිබුණු තැනමයි
Wed Jul 11, 2018 7:37 am by serene

» 2018 ජූනි මාසයේ ඩොලර් මිලියන 434.53 කින් දී සංචිත වැඩි වුණේ මෙහෙමයි
Tue Jul 10, 2018 4:00 pm by Ethical Trader

» නිවාඩුවට රට යනවාටත් බද්දක්. සියලු වාහන හිමියන් බදු ගෙවිය යුතුයි – දේශීය ආදායම් කොමසාරිස්
Mon Jul 09, 2018 5:49 pm by Ethical Trader

» අනං මනං! #/+?.<>
Mon Jul 09, 2018 2:14 pm by yellow knife

» අටවන වරටත් ශ‍්‍රී ලංකාවේ හොඳම බැංකුව ලෙස ෆයිනෑන්ස් ඒෂියා කොමර්ෂල් බැංකුව තෝරාගනී July, 7, 2018
Mon Jul 09, 2018 11:53 am by nihal123

» ETI මිල දී ගන්නේ සිංගප්පූරු – ශ්‍රී ලංකා හවුල් සමාගමක්
Mon Jul 09, 2018 7:57 am by serene

» සුළු හා මධ්‍ය පරිමාණ ව්‍යවසායකයින් වෙනුවෙන් කොළඹ කොටස් වෙළෙඳපොළේ EMPOWER පුවරුව දියත් කෙරේ
Fri Jul 06, 2018 9:26 pm by Ethical Trader

» Sri raises fuel prices, future revisions weekly
Fri Jul 06, 2018 6:35 pm by Ethical Trader

» Sri Lanka holds rates, amid external jitters
Fri Jul 06, 2018 10:35 am by Ethical Trader

» Sri Lanka rupee weakens, stocks gain 1.22-pct
Fri Jul 06, 2018 10:34 am by Ethical Trader

» Sri Lanka's SMEs get chance to raise equity on liberalized board
Fri Jul 06, 2018 8:07 am by The Invisible

» Yahoo බිඳ වැටෙයි
Thu Jul 05, 2018 6:42 pm by Ethical Trader

» මුල් මාස 06 දී ලක්ෂ 11 ½ ක සංචාරකයින් ඇවිත්
Thu Jul 05, 2018 6:41 pm by Ethical Trader

» ධම්මික ශ්‍රී ලංකාවේ මුල් වරට Artificial Intelligence යොදා ගත් අධ්‍යක්ෂ මණ්ඩල රැස්වීමක් කැඳවයි
Thu Jul 05, 2018 8:01 am by serene

» තව වසර 3 කින් කොළඹ ඒක පුද්ගල ආදායම ඩොලර් 12,650 යි
Wed Jul 04, 2018 5:39 pm by Ethical Trader

» රාජපක්ෂ ආධාරකරුවන් ශ්‍රී ලංකාවේ මාධ්‍යවේදීන් බියවැද්දීම වැරදියි - New York Times
Tue Jul 03, 2018 5:32 pm by Ethical Trader

» කොමර්ෂල් බැංකුවට නව කළමනාකාර අධ්‍යක්ෂවරයෙකු සහ ප‍්‍රධාන මෙහෙයුම් නිලධාරියෙකු පත්කෙරේ
Tue Jul 03, 2018 5:27 pm by Ethical Trader

» Sri Lanka's ETI Finance able to settle small depositors if liquidated
Mon Jul 02, 2018 5:30 pm by Ethical Trader

» Cartoon of the day...
Sun Jul 01, 2018 9:10 pm by pee ratio

» උදයංග වීරතුංගට "ස්වේච්ඡාවෙන් ගමන් යන්න බැහැ"
Fri Jun 29, 2018 5:19 pm by Ethical Trader

» Sri Lanka s state hotel sales to go ahead next month: Finance Minister
Fri Jun 29, 2018 5:14 pm by Ethical Trader

» මාස 02 කදී කොටස් වෙළෙඳපොළ සියයට 4 කින් කඩා වැටිලා
Thu Jun 28, 2018 5:59 pm by Ethical Trader

» කොටස් වෙළෙඳපොළේ ආයෝජන ඉවත් කර ගැනීමට ජාතික ඉතිරිකිරීමේ බැංකුව යෝජනා කැඳවයි
Thu Jun 28, 2018 11:14 am by Ethical Trader

» සුරන්ගනීට මාලු ගෙනාවා - FIFA - Russia - 2018
Mon Jun 25, 2018 11:29 am by Ethical Trader

» Enterprise Sri Lanka to give extra credit support for women, disabled soldiers
Sun Jun 24, 2018 8:42 pm by sashimaal

» HUNA.N0000
Sat Jun 23, 2018 11:42 am by pjrngroup

» 2018 මැයි මස උද්ධමනය සියයට 2.1 ක් දක්වා ඉහළට
Sat Jun 23, 2018 8:31 am by Ethical Trader

» Laughter the Best Medicine
Fri Jun 22, 2018 8:11 pm by nihal123

» Sri Lanka is recovering, Central Bank threat looms: Bellwether
Fri Jun 22, 2018 10:20 am by The Invisible

» Sri Lanka's new forex law gets IMF thumps up
Fri Jun 22, 2018 10:16 am by The Invisible

» EU slaps tariffs on US as trade war erupts
Fri Jun 22, 2018 10:14 am by The Invisible

» Top monk asks Sri Lanka’s ex-defence chief to return as ‘Hitler’
Fri Jun 22, 2018 10:12 am by The Invisible

» May inflation at 2.1%
Fri Jun 22, 2018 2:06 am by sashimaal

»  මෙරට විශාලම ආයෝජනය වන හම්බන්තොට වරායේ අවසන් ආයෝජන මුදල වරාය අතට බාර දෙයි
Thu Jun 21, 2018 4:59 pm by Ethical Trader

» CCS.N0000 ( Ceylon Cold Stores)
Thu Jun 21, 2018 4:56 pm by Ethical Trader

» HHL.N0000 ( Hemas Holdings PLC)
Thu Jun 21, 2018 4:48 pm by Ethical Trader

» රුපියල තවදුරටත් පාවීමට ඉඩහැරිය යුතුයි - ජාත්‍යන්තර මූල්‍ය අරමුදල
Thu Jun 21, 2018 7:46 am by serene

» රජයේ සුරැකුම්වලින් රුපියල් බිලියන 2.7 ක විදෙස් ආයෝජන සතියක් තුළ දී ඉවතට
Wed Jun 20, 2018 9:11 am by serene

» ඩොලර් බිලියන 10 යි – මහ බැංකුව ඉතිහාසයේ වැඩිම විදේශ විනිමය සංචිතය ගොඩනගයි
Wed Jun 20, 2018 7:23 am by කිත්සිරි ද සිල්වා

» කිම් - ට්‍රම්ප් හමුව: දෙරටේ නායකයෝ සාකච්ඡා අරඹති
Sun Jun 17, 2018 10:55 am by Ethical Trader

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sat Jun 16, 2018 8:20 am by spw19721

July 2018
SunMonTueWedThuFriSat
1234567
891011121314
15161718192021
22232425262728
293031    

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Social Capital CEO Chamath Palihapitiya: The paradox of ego and humility

Go down

Social Capital CEO Chamath Palihapitiya: The paradox of ego and humility

Post by Backstage on Sun Oct 22, 2017 12:58 pm


Social Capital CEO Chamath Palihapitiya: The paradox of ego and humility


This interview with Chamath Palihapitiya, founder and chief executive of Social Capital, a leading venture capital firm in the United States, was conducted and condensed by New York Times journalist Adam Bryant.

Chamath Palihapitiya, the founder and chief executive of Social Capital, prizes an ability to learn from failure. Credit Earl Wilson/The New York Times

Q.What were your early years like?
A. I was born in Sri Lanka. My mom was a nurse, and my dad worked in the Health Ministry as a civil servant. When I was 6 years old, my dad got a job at the Sri Lankan High Commission in Canada, so we moved there.

But after my dad lost his job, he was unemployed for a long time, and there was a lot of drinking and stuff like that. My mom worked nights, and she was a housekeeper and then became a nurse’s aide. We had this 400-square-foot two-bedroom apartment above a laundromat. They had to grind every month to make ends meet.

What were you doing outside of class?
I worked a lot. My first job was at a Burger King. I then got a job through a government programme to do data entry. They told me there was so much to do that I probably wasn’t going to get it all done in the summer.

But I became obsessed with getting it all done. The same thing happened with another job in high school. The manager told me that I probably wouldn’t get it all done, but that if I did, he would take me to McDonald’s and buy me as much as I wanted.

I did all the work, we went to McDonald’s, and I ate six Big Macs. He was flabbergasted. I don’t know how I was able to eat six, quite honestly. I think I trained myself from when I worked at Burger King.

What else were you involved in during high school?
I loved gambling, and I loved card games. I would run a little blackjack game at one of the lunch tables. The kids could bet 25 cents to a dollar.
I was the house. I was making $40 or $50 each lunch hour, and it was all the money in the world. On the weekends, I would take that money and sneak into the charity casinos with my fake ID.

That showed me that I have a passion for risk, and that I really like decision-making under pressure. I still play a lot high-stakes poker.

Any thoughts on where that passion for risk comes from?
I’ve found that a lot of successful poker players grew up poor. And I’m convinced that poor people have a risk tolerance that rich people don’t have because poor people fundamentally don’t value money that much because they’re used to not having it.

With rich people, when they’re born rich, a lot of their identity is wrapped up in that because of the way society defines your success by the money you have. So they covet money. I’ve never cared about it that much.

How have your parents influenced your leadership style?
In both good and bad ways. The bad part is that I’m argumentative like my father. I find that a lot of really important decisions in business are sometimes made on faulty premises, so I like to challenge people to go back to first principles on their assumptions.The good part is that I am pretty introspective and humble enough to constantly change my mind, like both my father and my mother.

Those traits can be really productive together, but if they’re not well balanced, they can be unproductive. So my constant challenge is to surround myself with people who have the nerve to stand up to me and argue.

Any lessons from your early management experiences?
I was pretty good at managing early on because I learned how to get to know people and how to understand their motivations. I never allowed myself to just take at face value who they are or how they presented themselves.

Part of it was also just the general curiosity that I had about people. I didn’t have a lot of friends growing up, and suddenly I had a context to meet interesting people and ask them about their story. You can disarm people just by saying, “Tell me about yourself.”

You left a big job at Facebook to start your fund in 2011.
I got exceptionally lucky, so I have nothing to complain about. But other people would have looked at the money I was leaving on the table, and they would have made a decision to stay. It was an enormous amount, but it just didn’t matter.

It’s about going back to first principles. What do I value? I valued my independence, I valued my creativity, and I also valued winning over the long term. I decided to make a big bet on myself.

And what do you look for when you’re making bets on the people you invest in?
I look for a couple of threads. One is the combination of ego and humility. Let’s be honest, a lot of C.E.O.s are ego-driven people. But they also have to be humble in some very precise ways around ideas and decisions, and being able to change their mind. That’s an idiosyncratic combination.

Another thread is intellectual curiosity. They ask a lot of “why” questions, and they’re comfortable with the ambiguous nature of things that are unknown.
The last one is that you want somebody who’s ultra-resilient, because there are just so many trials and tribulations to building a business. One day it can feel like you’re on the top of the world, and the next day it’s all crumbling down. Can you compartmentalize it, put it in context and enjoy it?

What career and life advice do you give to new college grads?
You have to put yourself in a position to learn. And when you’re young, you only learn when things aren’t working. The problem is that you’re never told to go to something that’s not working. You’re only ever told to jump on a rocket ship.

There’s a point in time for that, but if you want to be really good at your craft, it only comes through knowledge, and knowledge only comes through experience, and experience only comes through failure.
Courtesy New York Times
avatar
Backstage
Top contributor
Top contributor

Posts : 3275
Join date : 2014-02-24

Back to top Go down

Re: Social Capital CEO Chamath Palihapitiya: The paradox of ego and humility

Post by CK on Sun Oct 22, 2017 7:30 pm

Good reading Backs
avatar
CK
Active Member
Active Member

Posts : 1188
Join date : 2015-11-01

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum