A Quote by Chamath Palihapitiya
The half-life of companies is shrinking. So in the same ease in which you can start a company today to disrupt an incumbent, you have to also realize that somebody will do that to you as well just as easily. So if you're not just going to get on top but stay on top, that will require a real prepared mind across many companies.
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I teach at the Stanford Business School, and about half of my students are foreign, many of whom, I hope, will stay and build businesses in U.S. But I must tell you that they also have opportunities to come back to India and start great companies and operations.
There are times when you need to step back and realize that movie studios today are not necessarily the same things that they were many years ago. Many movie studios are international conglomerates now. They own everything from theme parks to toy companies to T-shirt companies to video companies. There's a lot of different wheels to be greased.
Baidu and Google are great companies, but there are a lot of things you can do outside them. Just as electricity and the Internet transformed the world, I think the rise of modern A.I. technology will create a lot of opportunities both for new startups and for incumbent companies to transform.
In almost any change there is 20 - 60 - 20. 20% are doing the change and we need to stay out of their way. 20% will never get there (a large percent still go into banks to see tellers vs. ATMs). 60% are in the middle. I think you will always find some companies where the head of HR is not a member of senior management team (bottom 20% and some companies where she or he has always been (top 20%).
I would still rather be in Silicon Alley. I like the West Coast also, but it's sort of fragmented. You have companies in downtown San Francisco, companies in Mountain View, and people are driving between them all. It's kind of nice in New York to just jump in a cab and reach another company so easily.
We will also allow state companies to sell shares to their workers and will pass a law allowing citizens to start companies of their own with no limits on the number of employees or on the firm's output.
Value investors will not invest in businesses that they cannot readily understand or ones they find excessively risky. Hence few value investors will own the shares of technology companies. Many also shun commercial banks, which they consider to have unanalyzable assets, as well as property and casualty insurance companies, which have both unanalyzable assets and liabilities.
At 25, I made many companies. I was thinking more like a businessman or entrepreneur than a CEO. I created many companies, small companies, medium companies. I tried to be involved in many kinds of activities, in finance, in real estate, in mining.
Tech stocks were the cubic zirconium of the market. They looked good and were sexy, but they just were a way for the company selling them to make money. That's always going to be transient in terms of the stock market. What's real is that companies have to compete. Technology used well is a great tool to enable that if only because most companies dont use technologies well.
It's not that you don't want to earn as much money as you can - it is your obligation, of course - but companies have obligations beyond that and they certainly have obligations beyond that at certain times, in the times in which they operate. And they also certainly ought to know that meeting and beating expectations is probably yesterday's game and it will be increasingly so, which would be by the way very healthy for companies. Running a company that meets and beats expectations, and that runs their company accordingly, are companies that I would question why anyone would invest in.
If you look at the top 20 companies of the world, 19 of them are still brick-and-mortar companies. I have nothing against tech companies. What I am saying is that if you have a car manufacturer or an oil and gas manufacturer, you won't get the supply over the Net.
Be careful not to start a company that really belongs as a feature of another company, like the 25 Twitter URL shortener companies out there. Pick a real problem that's here to stay.
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