At the end when you said "sitting in his private jet laughing at his followers" you should have included the clip where he said he "didn't want to slum it in commercial air with you mids (poors)" that he said on the All-In Podcast
When someone feels the need to verbally insist on their altruism, it's a pretty safe bet that they're not altruistic at all. Same goes for pretty much all virtue signalling.
Right you are, it goes for everything: if you have to tell me what you are, because you're not gonna show me, you are full of shit. Always, no exceptions.
This guy mastered the art of the humble brag. I used to admire him, then I started watching a lot of his interviews, that was when I got the unshakable feeling that this guy loves to talk a lot about himself.
Yeah, he seems like he has a massive ego. That Stanford talk that they show here, you can almost feel how much he gets off on the adulation from the interviewer and the crowd while he talks about how great he is.
Same with me... I think this kind of people attracts newcomers in the domain and the scam follows. I also used to follow many more but later i realised most of them are just like chamath.
That is fine that he likes to talk about himself. But I stopped taking him seriously when he came on TV promoting Tesla as a socially good company from environmental perspective and he had an extreme long-term bet, propping up the share price and then months later he fully exited from Tesla which he himself admitted. That is when I stopped listening to him on any virtue signaling.
He's just virtue signalling as usual. Anyone that uses skin colour, gender, religion or sexual orientation to argue "I'm just like them!" when they are filthy rich and the other people are working the lowest paid jobs, it's an act. There are only a few exceptions in the world where they actually aren't scamming assholes and filthy rich.
Rich people doing altruism is just PR in 95 % of the cases. Like that one company who spent 100x more on advertising that they donated money than the donation itself
In the cases shown in magazines about rich and famous, but there are plenty of rich donors you never here of. Rockafeller's entire motive for getting rich was to do the lord's work, as his idol growing up was a local businessman who made lots of money and gave it all away. Rockefeller is credited with the construction of hundreds of schools and churches but much of it wasn't known until after his death when his personal ledger was examined.
Reportedly Mark Zuckerberg really wants to be known as a philanthropist like Bill gates and gets frustrated that nobody notices how much money he donates
The biggest grift is the Pink non-profit. In 2013 (based on public data) the founder pulled in $390k. That’s 10 years ago. Imagine what it is now. And this is for a non-profit.
At the time it always felt so obvious this guy was completely in it for himself. I never understood why people were so excited when he bought GameStop stock, he was always in it for a quick pump, not anything beyond that.
Why else would anyone have bought into GameStop though? It was all obviously a pump and dump and anyone who didn't see that deserves to have lost their money. Don't conflate being savvy in the markets (ie notice a trend and taking advantage of it) with scammers who actually do pump and dumps (ie lie about fundamentals when they know the stock is crap). Was Chammath out there actually evangelizing the great fundimentals of GameStop? No...... So wtf did he exactly do wrong there?
For me I can remember thinking he was sus the first time I learned of him. I’d had a friend in finance who was excited about Social Capital back in like 2018, but I didn’t look closely then. It was when Meet Kevin (sus in his own right) touted Chamath doing a brief run for Governor of CA on a platform of zero taxes that I thought “holy shit, sounds like a guy who will just say anything.” I’d always thought SPACs were a brain dead idea; and when I realized he was the SPAC guy, any chance of him earning my respect was dead. Clearly a malignant narcissist with the long-proven business plan of sucking money up from dummies.
@jadengrant but he has in the past talked how he is from majority Sinhala and belittled tamil people. Guess he's only Sri Lankan when it benefits him.
@@brettblaster It isn't bro, I was not scammed or anything, just a guy watching some of CNBC videos where he tells about Facebook being really bad for mental health of teens etc etc, at that time I genuinely believed he cared because he was so articulate. In the Stanford interview though u get clear glimpses of his personality
republicans have been cutting funds for investigation and prosecution of financial crimes for decades, and if you try to prosecute one of these guys, you're gonna get a GOP senator harrassing you, and maybe you'll get doxxed on fox news as part of a deep state conspiracy against conservatives, and...
I think the Feds are trying. There has to be a motive in pump and dump. It’s easy to show it in the stock price history but they need to show that Chamath has a motive, an intent to do the crime.
I have no sympathy for people who follow "finance gurus" and "invest" their money based on what they're doing or what they say. The stock market isn't a team sport. Nobody cares about you making money. If you approach it like you are playing a game of soccer and "we're all in this together", you will be taken advantage of. In a way, you deserve to be taken advantage of.
@@justicedemocrat9357 why would you assume they never invested in shares based on what they said? You seem to have entirely missed the point they're making. Basically, trust nobody in the investing arena. Treat it like a game of poker. Everyone is out to take your money, one way or another.
Excellent look at this situation. The question I have been asking myself since I started following the FTX tragedy is "When was the altruism going to start?" How rich, and how much did SBF have to spend on himself, his family, his cronies and on promoting FTX before any significant amount of money at all would go to altuistic efforts?
I think there are two main problems with effective altruism. 1. It's not altruistic, not even a little bit. 2. It doesn't seem that effective either, given he's currently in jail awaiting trial. Apart from that, it's golden.
Wdym? He gave a lot of gifts to his family, that's very altruistic. He was also quite effective at scamming people to swindle money for said gifts for a while.
@@Lonaticus LOL. If I may sum up your argument, he stole other folks' money and gave some of it to Mom and Pop while gambling the rest away. And then he got caught red handed with no exit plan. I rest my case.
You fell for the scam b/c you did not educate yourself. Stop chasing the rainbows. Stop listening the YT shills. Spend lots of time looking at the screen and reading books. Ninety-nine percent of all trading YT'rs are "Fake it until you make it" pipedreams. Noone is going to do it for you.
I doubt many people genuinely believed in his charity. By the time he came around, the only people that hadn't muted crypto scammers were other crypto scammers
If you live in Silicon Valley you've heard this trope so many times that it's a broken record. It doesn't take long to catch onto the pattern that it's all an act so that you'll socially accept them. I hear it probably 5-7 times a day.
Owning a $75M private jet is all the evidence you need to know he isn't interested in helping people. Also, in regards to the large tips he says he gives. Not only is he bragging about it at interviews, he's also with people at the restaurant who get to see what a "generous" guy he is.
Chamath and altruism don’t even belong in the same sentence. I sincerely hoped no one truly believed him that it was more like the situation inspiring hope
His ego is even more inflated now due to the popularity of the all in podcast.. funny they never talk about his SPACs on there even though the show is focused on VC’s and the business world. The one time they addressed a tweet someone made calling him out on it, he basically called the guy a loser and his defense was “hey, I’m out there trying new things, what the hell are you doing with your life”.. then said bag holders were morons for not selling when he sold. The guy is insufferable.
Its funny- the interview he’s giving at around the 10 minute mark, if you really listen to what he’s saying, and the tone of his voice, he’s telling the audience exactly who he is and what he’s about. Money. And he wants enough money to be able to bend the world to what he wants, and you can tell by his body language and inflection that its selfish motives and desires, nothing else.
He's charming and likeable at times, that's the problem. That Harvard interview is the telltale sign, I agree. He's really highlighting an arrogance. Even in the Allin Pod, he's often found making scathing remarks about the very industries he's built his fortune on. Height of hypocrisy. Those SPACs were a disaster for regular investors. Enough said.
i remembered hearing him preaching on all in pod about how retail investors should be allowed to invest in private companies (sort of the down the line of why he brought companies to ipo by spac) and hinting about democratizing the investment world or like lower the entry barrier or whatever. i was just straight up dumbfounded. Im from VC industry and know very well how much info we would need to gather via back channeling, ref call and personal connection to make a decision to invest in a private company due to limited public info and its a very difficult job even for institutional investors...
Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely...
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I witnessed him boosting a company that he was selling his stake in. The company tanked but he was out with his money. He was also cheering on the Reddit crowded when they were buying meme stocks knowing they would fail and lose all their money.
yup, and he pumped the crypto solana which is still a trash heap in reagards to the actual tech.. id bet my liver he dumped it after a 10x just like every other scam artist..
He also said something like Tesla is great and he would never sell Tesla stock but then he sold in Feb of some year at near highs and then revealed 6 months later in an interview with David Faber of CNBC that he "was no longer holding shares."
shows you don't know jack. many of the largest givers to charity were billionaires who everyone who was their neighbors thought was a bag lady or shut in
Ultimately, in the end, the problem with "effective altruism" is that the majority of the problems in the world is caused by those like Chamath working to make as much money as possible, more money than ANY human ever actually needs. The accumulation of wealth is the direct cause of the very problems that people like Chamath claim they are accumulating all of this money to stop, thus perpetuating the problem. Ultimately, effective altruism is nothing more than wealthy people trying to alleviate their guilt around their desire to acquire more and more and more money and the real harm that they KNOW it is causing. It's not about making things better, it's about making themselves FEEL better as well as working to justify why they should be allowed to continue to do so instead of having the money ACTUALLY being used to solve the problems of the world by never being given to them in the first place.
I would love to see a correlation of people who formerly described themselves as philanthropist and now altruistic. These terms seem to just be tag words to posture. One the former and one the current
haha, i love your hit pieces on Chamath. He is a chameleon, you cant just listen to him. Its so easy to get fooled as he is a very good talker. But see what he says between the lines, look how he is when he is not trying to convince somebody about a topic and watch his moves on the market. Thats the real Chamath.
In theory paying your taxes is correct. But in reality the US Government has been corrupted to the point it no longer serves it's constituents and works in the interest of businesses and wealthy elite. Some of the exact institutions it is supposed to protect us from. So I would argue that the most effective altruism would be investing in or working towards ending government corruption: super pacs, citizens united, ranked voting, gerrymandering, publicly funding or limiting campaign spending are all topics worth exploring. The best organization I've found so far is RepresentUs. If anyone has any other suggestions I am all ears. Edit: And no, neither Chamath nor SBF have invested in this. SBF spent a lot buying political influence. I'm curious where Chamath lands on this.
Sadly...everything mentioned about Chamath in this video is quite common in the fund management industry. I really appreciated the personal bio and family background Chamath gave during an interview bc its the story of an immigrant underdog. But I then noticed he delivered this background info VERBATIM in a number of interviews. It makes sense actually. While I believe his facts are true, it is a hand crafted message designed to evoke certain emotions.
Chamath is still an ALL Start. His bets on Bitcoin, Amazon, Tesla & others all did well. ALL the SPACS went up 200-700% up in gains than up to the investors to sell or hold. Still has good advise. SOFI & OPEN will still become top companies in its industries
I admit I did get caught on clov. I had to bag hold it for months, but I got lucky with another pop and got the hell out. Looks like it's less than a dollar now. I did receive a postcard about a class action settlement a month or so ago too. Never touching a SPAC again unless fading it.
You all got the Kraken ad? How are they paying for those when they're bankrupt? It's not like their staking business wasn't just shut down with heavy fines
I’m going to flip the script and tell people that I’m going to do bad things. They’ll think of me as innovative and bold and give me all their money. But THEN I’ll turn out to be a secret good guy who adopts kittens or something like that. Major twist 😈
This is the guy who was selling completely out of a large position while at the same time doing the rounds on national TV channels where he stated over and over how great the stock was.
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Can someone ask this guy why he can’t get online poker legalized in Montana??? He’s got all this money and power yet we can’t have online poker in the USA 😢
00:09 Sam Bakman Freed's effective altruism was a carefully constructed lie. 02:10 Chamath dumped his shares early and deceived his followers 04:13 Chamath criticized his former professions to bolster his public image and expose corruption. 06:22 Chamath presents himself as selflessly generous by giving large tips, but there may be underlying motives. 08:18 Chamath's desire for money is connected to gaining the trust of investors and customers to defraud them for personal enrichment. 10:23 Chamath's delusional worldview and desire to be one of the 150 people who control the world. 12:26 Chamath wants to grow a business for 7 to 8 years to make a real impact. 14:36 Chamath portrayed himself as an altruistic investor, but he actually used his public image to gain influence and make money. 16:44 Chamath profited $750 million from his SPAC while his retail followers lost billions of dollars. 18:30 Chamath's altruism is often a lie. Crafted by Merlin AI.
🎯 Key Takeaways for quick navigation: 00:01 📰 The video discusses Sam Bankman-Freed's court case and the alleged deception behind his effective altruism persona. 00:16 💡 The prosecution aims to reveal that Bankman-Freed's public image of effective altruism was carefully constructed and contradicted by evidence like his appearance and lifestyle choices. 00:30 💰 Bankman-Freed strategically presented an "ugly" haircut and opted for a modest car to align with his effective altruism image, but allegedly spent lavishly on personal real estate, casting doubt on his charitable intent. 00:56 ⚖️ Bankman-Freed's alleged actions could result in a lengthy prison sentence, underscoring the severity of the charges against him and potential consequences for his fraudulent activities. 01:23 💸 The video transitions to critique Chamath Palihapitiya, accusing him of leveraging his followers to profit from SPACs while his retail investors suffered significant losses. 01:38 📉 Chamath Palihapitiya is accused of promoting multiple companies via SPACs, resulting in substantial losses for retail investors while personally profiting through various means, highlighting questionable ethics in finance. 02:36 🏦 The video promotes regulated and trustworthy brokerages, emphasizing the importance of investing wisely to avoid financial disasters like the FTX case and Chamath Palihapitiya's ventures. 03:36 🧪 Chamath Palihapitiya is portrayed as an individual driven by the desire for wealth and influence, ostensibly contradicting his proclaimed altruistic goals, prompting skepticism about his true intentions and authenticity. 05:13 🌍 Chamath's alleged desire to change the world and gain influence is depicted as delusional, with doubts raised about his ability to achieve such lofty ambitions and concerns about potential misuse of power. 07:32 💸 Chamath's actions and statements are scrutinized for inconsistencies, revealing potential self-serving motives that conflict with his public altruistic image, leading to questions about the sincerity of his intentions. 10:42 🌟 Chamath Palihapitiya's aspirations to influence the world through amassed wealth are criticized as unrealistic, highlighting concerns about his delusions of grandeur and potential exploitation of his followers. 11:38 🧪 The video urges skepticism when individuals emphasize altruism or world-changing motives, cautioning that such claims may serve personal gain and emphasizing the need to discern true intentions in financial matters. 13:29 💼 Chamath Palihapitiya's contradictions in actions and statements, such as rapid share dumping and self-centered goals, are exposed, urging viewers to critically analyze public figures' professed ideals and actions. Made with HARPA AI
10:13 It doesn't occur to him that those top 150 think the same way as he. Of course, it isn't their (or his) money they want to re-distribute. It's ours.
I am always sceptical to anyone who has to post publically or talk a lot about what they do.. either they constantly fail to do it or succeed in it or they simply want something out of you. I havent seen many cases of people who succeed at something when they also talk and boasts about that thing. Just look at Jim Simons.. have any of you seen him talk about what he trades? Cuz I havent. The dude doesnt talk about it, he simply does it.. with his team that is. Same goes for most accomplished traders. Most start to talk about it AFTER they have succeeded. Not before. It is always after.
lmao, i will NEVER , any inches of my pubic hair, believing in a person that would tell how kind they are to the point mentioning their good deeds. YIKES.
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At the end when you said "sitting in his private jet laughing at his followers" you should have included the clip where he said he "didn't want to slum it in commercial air with you mids (poors)" that he said on the All-In Podcast
Thought they added about 45 more years to that bitch's sentence?
Keep up the good work. Nay God's work.
When someone feels the need to verbally insist on their altruism, it's a pretty safe bet that they're not altruistic at all. Same goes for pretty much all virtue signalling.
"Trust me bro."
Yeah, it's like walking around telling everyone "I'm a good person"
They are called Communal Narcissists
It’s like when a woman says “I don’t like drama”
Right you are, it goes for everything: if you have to tell me what you are, because you're not gonna show me, you are full of shit. Always, no exceptions.
This guy mastered the art of the humble brag. I used to admire him, then I started watching a lot of his interviews, that was when I got the unshakable feeling that this guy loves to talk a lot about himself.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
Yeah, he seems like he has a massive ego. That Stanford talk that they show here, you can almost feel how much he gets off on the adulation from the interviewer and the crowd while he talks about how great he is.
Same with me... I think this kind of people attracts newcomers in the domain and the scam follows. I also used to follow many more but later i realised most of them are just like chamath.
Screams insecurity
A trustable Billionaire will always be the first to downplay himself, not the other way around
That is fine that he likes to talk about himself. But I stopped taking him seriously when he came on TV promoting Tesla as a socially good company from environmental perspective and he had an extreme long-term bet, propping up the share price and then months later he fully exited from Tesla which he himself admitted. That is when I stopped listening to him on any virtue signaling.
People are very good at rationalizing their own greed
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
Brown skin is about the only thing he shares with some restaurant staff 😂
He's just virtue signalling as usual. Anyone that uses skin colour, gender, religion or sexual orientation to argue "I'm just like them!" when they are filthy rich and the other people are working the lowest paid jobs, it's an act. There are only a few exceptions in the world where they actually aren't scamming assholes and filthy rich.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true colors
😂😂😂
Rich people doing altruism is just PR in 95 % of the cases. Like that one company who spent 100x more on advertising that they donated money than the donation itself
In the cases shown in magazines about rich and famous, but there are plenty of rich donors you never here of. Rockafeller's entire motive for getting rich was to do the lord's work, as his idol growing up was a local businessman who made lots of money and gave it all away. Rockefeller is credited with the construction of hundreds of schools and churches but much of it wasn't known until after his death when his personal ledger was examined.
Reportedly Mark Zuckerberg really wants to be known as a philanthropist like Bill gates and gets frustrated that nobody notices how much money he donates
Don't forget the "charities" that spend a majority of their revenue on "administrative costs" and advertising. It's a grift for the people at the top.
The biggest grift is the Pink non-profit. In 2013 (based on public data) the founder pulled in $390k. That’s 10 years ago. Imagine what it is now. And this is for a non-profit.
This guy Chamath is disgusting, the things he said about the uyghur genocide easily reveals his true color
Chamath should be investigated for crimes regarding his SPACs. He made hundreds of millions while individual investors were left holding the bag.
At the time it always felt so obvious this guy was completely in it for himself. I never understood why people were so excited when he bought GameStop stock, he was always in it for a quick pump, not anything beyond that.
I feel the same way about people who bought into Google's old "not evil" bullshit. Have they never seen a used car salesman?
@@desertdude540did they do anything bad back then? I can only see it from eventually getting into growing pressure
@@desertdude540 Google could have been a lot more evil. A lot... They could have been a facebook but they clearly are not.
Why else would anyone have bought into GameStop though? It was all obviously a pump and dump and anyone who didn't see that deserves to have lost their money. Don't conflate being savvy in the markets (ie notice a trend and taking advantage of it) with scammers who actually do pump and dumps (ie lie about fundamentals when they know the stock is crap). Was Chammath out there actually evangelizing the great fundimentals of GameStop? No...... So wtf did he exactly do wrong there?
For me I can remember thinking he was sus the first time I learned of him. I’d had a friend in finance who was excited about Social Capital back in like 2018, but I didn’t look closely then.
It was when Meet Kevin (sus in his own right) touted Chamath doing a brief run for Governor of CA on a platform of zero taxes that I thought “holy shit, sounds like a guy who will just say anything.”
I’d always thought SPACs were a brain dead idea; and when I realized he was the SPAC guy, any chance of him earning my respect was dead.
Clearly a malignant narcissist with the long-proven business plan of sucking money up from dummies.
His silence during his native Sri Lanka's financial collapse speaks volumes about his character.
He is canadian
@@JohnDoe-gg6kc he suposedly symphatises with and gives money to "brown people like him", so his world view does favour south asians.
@@JohnDoe-gg6kche was BORN in Sri Lanka. However, I do not see how that is relevant because what should he do about Sri Lanka collapsing?
@@JohnDoe-gg6kc He's a crook and charlatan.
@jadengrant but he has in the past talked how he is from majority Sinhala and belittled tamil people. Guess he's only Sri Lankan when it benefits him.
Love the direction where this channel is going. Moving from how the markets are doing to deep dives into corporate failures and frauds. Keep it up!
This guy Chamath is disgusting, the things he said about the uyghur genocide easily reveals his true colors
thats where the views are.
Just keep him away from AI and crypto
He is biased against them
@@princemc35 crypto is a scam
Chamath has fleeced more people than almost any other person on the planet. Excellent accurate video.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true colors
Yea, Fck the refugee turned Scam King.
Its a shame so many millenials worship Scamath like he's the messiah of capitalism 😂
Considering the amount of people that even invest in crypto to small, im willing to bet that general millennial population don't even know who Sam is.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
I don’t think many millennials do, it’s very easy to see through his bs
@@brettblaster It isn't bro, I was not scammed or anything, just a guy watching some of CNBC videos where he tells about Facebook being really bad for mental health of teens etc etc, at that time I genuinely believed he cared because he was so articulate.
In the Stanford interview though u get clear glimpses of his personality
Would you expect anything different from kitten-millenials? 😅
6:36 "just to be anonymously generous like that"😂. Says the guy boasting in front of an audience
It’s the perfect crime because nobody can debunk it
How is he not arrested for stock market manipulation?
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
He's rich, duh
republicans have been cutting funds for investigation and prosecution of financial crimes for decades, and if you try to prosecute one of these guys, you're gonna get a GOP senator harrassing you, and maybe you'll get doxxed on fox news as part of a deep state conspiracy against conservatives, and...
RaceCard.Especially effective on crimes where most laymen don't even know how you did it.
I think the Feds are trying. There has to be a motive in pump and dump. It’s easy to show it in the stock price history but they need to show that Chamath has a motive, an intent to do the crime.
He is the biggest swindler, I’ve always found him insufferable.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
Well, he's spending the rest of his life in prison. He'll fit right in there.
I have no sympathy for people who follow "finance gurus" and "invest" their money based on what they're doing or what they say. The stock market isn't a team sport. Nobody cares about you making money. If you approach it like you are playing a game of soccer and "we're all in this together", you will be taken advantage of. In a way, you deserve to be taken advantage of.
Let me guess, you've never invested in shares and you've never played a team sport, lol.
@@justicedemocrat9357 Let me guess, you not too educated on the subject to really understand what he's trying to tell people.
@@justicedemocrat9357 why would you assume they never invested in shares based on what they said? You seem to have entirely missed the point they're making. Basically, trust nobody in the investing arena. Treat it like a game of poker. Everyone is out to take your money, one way or another.
And now he’s got a popular podcast to con even more people
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
algorithm.
Excellent look at this situation. The question I have been asking myself since I started following the FTX tragedy is "When was the altruism going to start?" How rich, and how much did SBF have to spend on himself, his family, his cronies and on promoting FTX before any significant amount of money at all would go to altuistic efforts?
This would have been a good question for Michael Lewis, Kevin O'Leary and co to ask themselves, even now
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
They love effective altruism because the first step is to be selfish. They never get around to the second step.
Altruism in SBFs mind is giving amphetamines and dick to a troll and lining politicians pockets.
I think there are two main problems with effective altruism.
1. It's not altruistic, not even a little bit.
2. It doesn't seem that effective either, given he's currently in jail awaiting trial.
Apart from that, it's golden.
lmao
Wdym?
He gave a lot of gifts to his family, that's very altruistic.
He was also quite effective at scamming people to swindle money for said gifts for a while.
@@Lonaticushe did donate millions of dollars tho, but that money was probably stolen
@@nomanejane5766
If you donate pennies from your bank robbery.
Not sure, whether anybody would count that as a donation.
@@Lonaticus LOL.
If I may sum up your argument, he stole other folks' money and gave some of it to Mom and Pop while gambling the rest away. And then he got caught red handed with no exit plan. I rest my case.
I fell for one of his spac scams. Its always the crook you dont see coming that gets you.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
You fell for the scam b/c you did not educate yourself. Stop chasing the rainbows. Stop listening the YT shills. Spend lots of time looking at the screen and reading books. Ninety-nine percent of all trading YT'rs are "Fake it until you make it" pipedreams. Noone is going to do it for you.
I doubt many people genuinely believed in his charity. By the time he came around, the only people that hadn't muted crypto scammers were other crypto scammers
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
If you live in Silicon Valley you've heard this trope so many times that it's a broken record. It doesn't take long to catch onto the pattern that it's all an act so that you'll socially accept them. I hear it probably 5-7 times a day.
Owning a $75M private jet is all the evidence you need to know he isn't interested in helping people. Also, in regards to the large tips he says he gives. Not only is he bragging about it at interviews, he's also with people at the restaurant who get to see what a "generous" guy he is.
He laid out his master plan to get into the Club of 150. How does he expect to get in now? Even if they exist, they would block him.
Nah. They’ll welcome him with open arms. Friends close, but enemies closer, and all that.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
Chamath and altruism don’t even belong in the same sentence. I sincerely hoped no one truly believed him that it was more like the situation inspiring hope
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true colors
His ego is even more inflated now due to the popularity of the all in podcast.. funny they never talk about his SPACs on there even though the show is focused on VC’s and the business world. The one time they addressed a tweet someone made calling him out on it, he basically called the guy a loser and his defense was “hey, I’m out there trying new things, what the hell are you doing with your life”.. then said bag holders were morons for not selling when he sold. The guy is insufferable.
Its funny- the interview he’s giving at around the 10 minute mark, if you really listen to what he’s saying, and the tone of his voice, he’s telling the audience exactly who he is and what he’s about. Money. And he wants enough money to be able to bend the world to what he wants, and you can tell by his body language and inflection that its selfish motives and desires, nothing else.
i think he was expecting applause too, instead it was mostly silence and laughs,
He's charming and likeable at times, that's the problem. That Harvard interview is the telltale sign, I agree. He's really highlighting an arrogance. Even in the Allin Pod, he's often found making scathing remarks about the very industries he's built his fortune on. Height of hypocrisy. Those SPACs were a disaster for regular investors. Enough said.
Chamath might be one of the biggest drifters behind SBF today.
And kevin o'leary
@feriafyre Chamath is worse in my opinion. At least O'Leary doesn't pretend that he cares about change etc
oh my god what a humble guy 😮
🤦♂️
He gave thousand dollar tips with his customers money, to play bigshot. What a hero....
THANK YOU!! I have thought the same for years and roll my eyes when I hear him talk.
Anyone that's ever bragged about them tipping well has never tipped well.
i remembered hearing him preaching on all in pod about how retail investors should be allowed to invest in private companies (sort of the down the line of why he brought companies to ipo by spac) and hinting about democratizing the investment world or like lower the entry barrier or whatever. i was just straight up dumbfounded. Im from VC industry and know very well how much info we would need to gather via back channeling, ref call and personal connection to make a decision to invest in a private company due to limited public info and its a very difficult job even for institutional investors...
Nice gatekeeping, bro.
@@ph318 look at crytobros buying icos. if they could invest in vcs the cryptobros would be broke
Creating wealth and financial freedom isn't as tough as many people believe.
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Great parallel, WSM - thank you!!
I witnessed him boosting a company that he was selling his stake in. The company tanked but he was out with his money. He was also cheering on the Reddit crowded when they were buying meme stocks knowing they would fail and lose all their money.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
yup, and he pumped the crypto solana which is still a trash heap in reagards to the actual tech.. id bet my liver he dumped it after a 10x just like every other scam artist..
He also said something like Tesla is great and he would never sell Tesla stock but then he sold in Feb of some year at near highs and then revealed 6 months later in an interview with David Faber of CNBC that he "was no longer holding shares."
finally someone speaking the truth about the pump and dump trickser. thank you
Corporates are obligated to engage in altruism to get a better image or to get better results. They wouldn't do it if it was anonymous.
shows you don't know jack. many of the largest givers to charity were billionaires who everyone who was their neighbors thought was a bag lady or shut in
This reminds me of a quote from Mr. Show: "Charity is when you do something for people while other people are watching."
Someone being altruistic in the stock market or in finance?
Thats like claiming to be a pacifist boxer.
This guy Chamath is disgusting sociopath, the things he said about the uyghur genocide easily reveals his true color
How people can't read through these sociopaths is beyond me.
Do not trust anyone if they say they are not in it for themselves. I am a father and husband. My primary focus is my family’s security and happiness.
So you're not in it for yourself and I shouldn't trust you?
WSM, your videos get better and better. This video is particularly good. Thank you.
Ultimately, in the end, the problem with "effective altruism" is that the majority of the problems in the world is caused by those like Chamath working to make as much money as possible, more money than ANY human ever actually needs. The accumulation of wealth is the direct cause of the very problems that people like Chamath claim they are accumulating all of this money to stop, thus perpetuating the problem. Ultimately, effective altruism is nothing more than wealthy people trying to alleviate their guilt around their desire to acquire more and more and more money and the real harm that they KNOW it is causing. It's not about making things better, it's about making themselves FEEL better as well as working to justify why they should be allowed to continue to do so instead of having the money ACTUALLY being used to solve the problems of the world by never being given to them in the first place.
I would love to see a correlation of people who formerly described themselves as philanthropist and now altruistic. These terms seem to just be tag words to posture. One the former and one the current
haha, i love your hit pieces on Chamath. He is a chameleon, you cant just listen to him. Its so easy to get fooled as he is a very good talker. But see what he says between the lines, look how he is when he is not trying to convince somebody about a topic and watch his moves on the market. Thats the real Chamath.
Chamath at Stanford sounds like me at Thanksgiving dinner telling my family about crypto
The truth is Finally out
What a great video. You calmly call out these creeps who are deceiving the public to line their own pockets.
5:44 Ah good, he's a race hustler as well....
Chamath? Benevolent?
Damn his nickname is literally "The Dictator"
Wall Street Millennial! Keeping 'em honest.
Holy shit man you came out swinging with that haircut line and never let up
Scamath absolute scrub lmao he's a former Facebook executive what do you expect.
You know the most effective altruism? Paying your taxes.
So we can use the money for the war machine
Government does a terrible job at being effective. There are much more effective ways to practice altruism.
Or for homeless and ilegal immigrants...
Sorry, but paying the least amount of taxes you can, and investing in the goods and services that people want is way more helpful to society
In theory paying your taxes is correct. But in reality the US Government has been corrupted to the point it no longer serves it's constituents and works in the interest of businesses and wealthy elite. Some of the exact institutions it is supposed to protect us from.
So I would argue that the most effective altruism would be investing in or working towards ending government corruption: super pacs, citizens united, ranked voting, gerrymandering, publicly funding or limiting campaign spending are all topics worth exploring.
The best organization I've found so far is RepresentUs. If anyone has any other suggestions I am all ears.
Edit: And no, neither Chamath nor SBF have invested in this. SBF spent a lot buying political influence. I'm curious where Chamath lands on this.
WSM, you’re closing in on Coffeezilla level. Kudos!
6:00 this is so cringe. How much of a narcissist do you have to be to brag for a minute about how much you tip?
We all know SPAC's IPO is VC last step to milk retail. Bet Chamath will not reveal that. Nice hit piece.
Sadly...everything mentioned about Chamath in this video is quite common in the fund management industry. I really appreciated the personal bio and family background Chamath gave during an interview bc its the story of an immigrant underdog. But I then noticed he delivered this background info VERBATIM in a number of interviews. It makes sense actually. While I believe his facts are true, it is a hand crafted message designed to evoke certain emotions.
Chamath is still an ALL Start. His bets on Bitcoin, Amazon, Tesla & others all did well. ALL the SPACS went up 200-700% up in gains than up to the investors to sell or hold. Still has good advise. SOFI & OPEN will still become top companies in its industries
I like that you lowkey put Nas's photo with SBF they both deserve each other
Really went All In on this one!
This is called sociopathy (often grouped with psychopathy).
Corolla and a private jet
Hoodie ✅
Flip Flops ✅
Corolla ✅
Private Jet ✅
This guy loves the sound of his own voice
you probably wont hear about someone who is truly altruistic directly from them or until much after their altruistic work
I admit I did get caught on clov. I had to bag hold it for months, but I got lucky with another pop and got the hell out. Looks like it's less than a dollar now. I did receive a postcard about a class action settlement a month or so ago too. Never touching a SPAC again unless fading it.
I just knew this guy was a slimeball. I knew very little about him, but he just gives off that vibe.
You all got the Kraken ad? How are they paying for those when they're bankrupt? It's not like their staking business wasn't just shut down with heavy fines
How are they bankrupt? They raised like 150M and did 400B in trading volume in 2022 - that'd generate fat fees
But that's the only thing that got shut down
@sushantkurren2562 they're all secretly insolvent even in good times and they can't ponzi when interest rates are up
@@tomlxyz it was the only thing bringing in money too
@@tomlxyz it was the only thing bringing in money too
Wherever someone is telling you to sacrifice, they’re probably collecting your sacrificial offerings.
I’m going to flip the script and tell people that I’m going to do bad things. They’ll think of me as innovative and bold and give me all their money. But THEN I’ll turn out to be a secret good guy who adopts kittens or something like that. Major twist 😈
I've learned so much from this channel.
This is the guy who was selling completely out of a large position while at the same time doing the rounds on national TV channels where he stated over and over how great the stock was.
Isn’t that illegal? To tell investors a lie in order to get them to invest? Where is the SEC and Department of Justice? Asleep on their jobs as usual!
Chamath is not a self-made man, just a lucky man..
He doesn’t think Zuck is one of them. He went on to say these are not the tech billionaires.
Your content is fantastic and I respect the work you put in to this. Easilyyy my fav business channel. Figured after binging enough of your material, I’d leave a comment ;) Wish you all the best my friend. God bless
I remember that interview! Good to shine your light on him... Thanx. He's a creep.
It would be awesome if Chamath responds to this on his All-in Pod! 🤞🤞
0% chance I ever put my money in a broker named “MooMoo”
Can someone ask this guy why he can’t get online poker legalized in Montana??? He’s got all this money and power yet we can’t have online poker in the USA 😢
Because contrary to popular belief, you can't buy votes around here
It's so weird to me that people actually wanna gamble a lot easier lmao like who would want to keep losing money from their phone
I'm glad someone's finally calling out this scumbag
He is in the arena
00:09 Sam Bakman Freed's effective altruism was a carefully constructed lie.
02:10 Chamath dumped his shares early and deceived his followers
04:13 Chamath criticized his former professions to bolster his public image and expose corruption.
06:22 Chamath presents himself as selflessly generous by giving large tips, but there may be underlying motives.
08:18 Chamath's desire for money is connected to gaining the trust of investors and customers to defraud them for personal enrichment.
10:23 Chamath's delusional worldview and desire to be one of the 150 people who control the world.
12:26 Chamath wants to grow a business for 7 to 8 years to make a real impact.
14:36 Chamath portrayed himself as an altruistic investor, but he actually used his public image to gain influence and make money.
16:44 Chamath profited $750 million from his SPAC while his retail followers lost billions of dollars.
18:30 Chamath's altruism is often a lie.
Crafted by Merlin AI.
🎯 Key Takeaways for quick navigation:
00:01 📰 The video discusses Sam Bankman-Freed's court case and the alleged deception behind his effective altruism persona.
00:16 💡 The prosecution aims to reveal that Bankman-Freed's public image of effective altruism was carefully constructed and contradicted by evidence like his appearance and lifestyle choices.
00:30 💰 Bankman-Freed strategically presented an "ugly" haircut and opted for a modest car to align with his effective altruism image, but allegedly spent lavishly on personal real estate, casting doubt on his charitable intent.
00:56 ⚖️ Bankman-Freed's alleged actions could result in a lengthy prison sentence, underscoring the severity of the charges against him and potential consequences for his fraudulent activities.
01:23 💸 The video transitions to critique Chamath Palihapitiya, accusing him of leveraging his followers to profit from SPACs while his retail investors suffered significant losses.
01:38 📉 Chamath Palihapitiya is accused of promoting multiple companies via SPACs, resulting in substantial losses for retail investors while personally profiting through various means, highlighting questionable ethics in finance.
02:36 🏦 The video promotes regulated and trustworthy brokerages, emphasizing the importance of investing wisely to avoid financial disasters like the FTX case and Chamath Palihapitiya's ventures.
03:36 🧪 Chamath Palihapitiya is portrayed as an individual driven by the desire for wealth and influence, ostensibly contradicting his proclaimed altruistic goals, prompting skepticism about his true intentions and authenticity.
05:13 🌍 Chamath's alleged desire to change the world and gain influence is depicted as delusional, with doubts raised about his ability to achieve such lofty ambitions and concerns about potential misuse of power.
07:32 💸 Chamath's actions and statements are scrutinized for inconsistencies, revealing potential self-serving motives that conflict with his public altruistic image, leading to questions about the sincerity of his intentions.
10:42 🌟 Chamath Palihapitiya's aspirations to influence the world through amassed wealth are criticized as unrealistic, highlighting concerns about his delusions of grandeur and potential exploitation of his followers.
11:38 🧪 The video urges skepticism when individuals emphasize altruism or world-changing motives, cautioning that such claims may serve personal gain and emphasizing the need to discern true intentions in financial matters.
13:29 💼 Chamath Palihapitiya's contradictions in actions and statements, such as rapid share dumping and self-centered goals, are exposed, urging viewers to critically analyze public figures' professed ideals and actions.
Made with HARPA AI
Finally somebody sees what I saw of him many years ago.
He IS trying the make the world a better place. He’s just starting with his, uh, immediate surroundings!
Nice!!
He should tip DSP. Phil needs that money, he really does.
true "altruism" is done where few, if any people find out what you gave or did
until after your are dead
10:13 It doesn't occur to him that those top 150 think the same way as he. Of course, it isn't their (or his) money they want to re-distribute. It's ours.
I just could not like this post enough. Really one of your best
Always thought this guy was super shady ASF. You can just sense his arrogance in his voice.
I never invested in any of his SPACs.
He’s a crook and should be in prison.
I dont know how spac's are even legal. They all seem fairly scam like
how is he not in jail for scamming his followers (retail investors)?
I am always sceptical to anyone who has to post publically or talk a lot about what they do.. either they constantly fail to do it or succeed in it or they simply want something out of you. I havent seen many cases of people who succeed at something when they also talk and boasts about that thing.
Just look at Jim Simons.. have any of you seen him talk about what he trades? Cuz I havent. The dude doesnt talk about it, he simply does it.. with his team that is. Same goes for most accomplished traders. Most start to talk about it AFTER they have succeeded. Not before. It is always after.
I would love to see a video on Sam Altman next
True charity is done without accolades or with a need for attention. So many dirt bags hiding behind FAKE virtue.
lmao,
i will NEVER , any inches of my pubic hair, believing in a person that would tell how kind they are to the point mentioning their good deeds.
YIKES.
An update on Theranos would be good to see. My understanding is that Holmes is going for a 6-year prison ... out in 3? They say 150... out in 2?