- Chamath Palihapitiya Holdings
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How Bitclout Aims To Let People Bet On Twitter Influencers Using 'Creator Coins'
Saturday, April 24, 2021 - 11:41am | 896Read More...A new social network that allows followers to buy tokens in accounts is taking the world by storm. The network, called Bitclout, has seen interest from large investors, athletes, celebrities, retail traders and creators. The Basics On Bitclout: Bitclout offers a way for users to...
Clover Health Joins Top WallStreetBets Stocks: What's Going On?
Monday, April 19, 2021 - 1:01am | 622Read More...Clover Health Investments Corp (NASDAQ: CLOV) has popped up on the list of top trending stocks on r/WallStreetBets, the Reddit forum that conducted a short squeeze in shares of GameStop Corp (NYSE: GME) earlier in the year. What Happened: Shares of the Chamath Palihapitiya-backed health...
Musk, Palihapitiya Threw 'Jet Fuel' On GameStop Short Squeeze, David Einhorn Says
Friday, April 16, 2021 - 12:55am | 618Read More...Hedge fund manager David Einhorn has blamed venture capitalist Chamath Palihapitiya and Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk for throwing 'jet fuel' on the GameStop Corp. (NYSE: GME) trading frenzy in January this year, according to a report by Reuters.What Happened: Einhorn said he...
Richard Branson Sheds Virgin Galactic Stake By $150M
Thursday, April 15, 2021 - 4:10am | 503Read More...British billionaire Sir Richard Branson sold nearly $150 million worth shares of his space tourism company Virgin Galactic Holdings Inc (NYSE: SPCE) over the course of three days, as per a regulatory filing.What Happened: Branson sold a total of 5,584,000 shares at an average price of $26.818...
Miami's Path To Becoming A Tech Hub, According To TheVentureCity's CEO: 'Brainpower Doesn't Have A Zip Code'
Tuesday, March 23, 2021 - 1:50pm | 1310Read More...“Thinking of moving to Miami? DM me.”That’s according to a tweet from Miami Mayor Francis Suarez that's plastered across billboards along California. The initiative, sponsored by Reddit co-founder Alexis Ohanian and early Uber Technologies Inc (NYSE: UBER) and...
Chamath Palihapitiya And His Rise As A 'FinTwit' Influencer
Sunday, March 21, 2021 - 7:52am | 792Read More...The influx of retail traders into the markets has coincided with a rise in certain influencers with big followings on Finance Twitter, a trading-oriented section of the popular social media platform.Benzinga is pointing out some of the biggest names, in a series on these 'FinTwit'...
Short Sellers Are Increasingly Targeting SPACs: WSJ
Sunday, March 14, 2021 - 2:08pm | 654Read More...SPACs are under attack. The Wall Street Journal today rounded up the short-selling activity surrounding special purpose acquisition vehicles, the path to going public that's in vogue these days.About 250 SPACs were launched in the U.S. last year and they've gotten hotter this year, drawing...
Why SoFi Acquiring A Bank Is Important For Investors
Tuesday, March 9, 2021 - 6:31pm | 369Read More...Fintech company SoFi announced an acquisition on Tuesday that could help its growth road map for the future. What Happened: SoFi, which is merging with Social Capital Hedosophia Holdings VCorp (NYSE: IPOE), announced Tuesday it is acquiring Golden Pacific Bancorp (OTC: GPBI). SoFi is...
'SPACs Attack' Weekly Recap: Looking Back On 9 Deal Announcements, Rumors And Headline News
Sunday, March 7, 2021 - 5:11pm | 1534Read More...It was another busy week for the SPAC market with numerous deal announcements and rumored deals. The market brought down the valuation of many SPACs late in the week.Here is a look back at the announced deals, rumors and some top headlines that were coverd on Benzinga's 'SPACs Attack...
Chamath Palihapitiya's 14 SPAC, PIPE Deals: Tracking Lifetime Performance — And The Past Week's
Saturday, March 6, 2021 - 5:22pm | 1146Read More...Chamath Palihapitiya has been labeled the King of SPACs and it could be for good reason. On Friday, investors got an update from Palihapitiya on how his SPAC investments have performed since inception, in 2021 and during the past down week.The Palihapitiya SPACs: Palihapitiya has plans to bring...
Chamath Palihapitiya Shares Lessons Learned After Tough Week For SPACs
Saturday, March 6, 2021 - 4:19pm | 746Read More...The last week has been a tough one for investors in many growth stocks. SPACs is one segment that was hit particularly hard.Lessons Learned From Palihapitiya: SPAC King Chamath Palihapitiya shared on Twitter Inc (NYSE: TWTR) how much he lost in the week and his thoughts on the SPAC market....
Palihapitiya Sells Off Virgin Galactic Stake, Freeing Up More Cash
Friday, March 5, 2021 - 11:38am | 328Read More...Chamath Palihapitiya has sold the last of his personal stake in Virgin Galactic Holdings Inc (NYSE: SPCE), freeing up another $21 million in cash. What Happened: This week, Palihapitiya sold his remaining 6.2 million shares of Virgin Galactic at an average price of $35, according to a...
Clover Health Reports 46% Revenue Growth, Guidance Lower Than Originally Forecasted
Monday, March 1, 2021 - 5:44pm | 346Read More...A health care company that went public with a SPAC from Chamath Palihapitiya reported quarterly earnings for the first time as a public company Monday.What Happened: Clover Health Investments (NASDAQ: CLOV) reported fourth-quarter revenue of $166.2 million, a year-over-year increase of 44%. Full...
Jim Cramer Shares 10 SPACs 'To Die For'
Friday, February 26, 2021 - 6:36pm | 1048Read More...CNBC host Jim Cramer has been vocal about the rise of SPACs. Cramer has criticized the large number of SPACs and recently went after celebrity SPACs. The host has featured interviews with executives from some of the companies going public via the SPAC route.On Wednesday’s “...
Palihapitiya Part Of $2.7B SPAC Deal To Purchase Berkshire Grey
Wednesday, February 24, 2021 - 1:53pm | 544Read More...A pure-play robotics company proving automation solutions is hitting the public markets with a SPAC deal announced Wednesday morning.The SPAC Deal: Berkshire Grey, which uses artificial intelligence for robotics and automation solutions, announced a SPAC merger with Revolution Acceleration...
- Chamath Palihapitiya sat down with Bloomberg on Friday to discuss a wide variety of topics.
- The Social Capital founder said, 'Nobody's going to listen to Warren Buffett. There have to be some other folks that take that mantle.'
- The billionaire also touched on the SPAC boom, cryptocurrencies, and even a big tech breakup. Detailed below are his 10 best quotes.
- Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Billionaire Chamath Palihapitiya sat down with Bloomberg on Friday to discuss everything from Warren Buffett to cryptocurrencies in a whirlwind interview.
(Bloomberg) - Just as Chamath Palihapitiya was the face of the SPAC frenzy that gripped financial markets at the start of the year, he is today the face of the bust. All six of Palihapitiya’s. Chamath Palihapitiya (born 3 September 1976) is a Canadian-American venture capitalist, engineer, SPAC sponsor and the founder and CEO of Social Capital. Palihapitiya was an early senior executive at Facebook, joining the company in 2007 and leaving in 2011. He is a minority stakeholder and board member of the Golden State Warriors. Chamath Palihapitiya Palihapitiya in 2016 Born (1976-09. Chamath Palihapitiya, whose tech pedigree and iconoclastic pronouncements about investing has made him one of the most closely watched investors in the private and public markets, now has equally. Chamath Palihapitiya is a Canadian-American venture capitalist and the founder and CEO of Social Capital. @Chamath on Twitter SPAC Involvement Current IPOB IPOC FVAC (Anchor to the PIPE) Past: Virgin Galactic.
On Thursday, however, Palihapitiya’s Twitter account went quiet just when investors needed to hear from him most. Hindenburg Research published a critical report on Clover Health Investments.
As a leader in the ongoing SPAC surge and Reddit trader movement, the founder of the VC firm Social Capital has been the talk of the markets lately.
Palihapitiya fashions himself as a figurehead of the times, arguing that titans like Warren Buffett no longer have the energy nor the lexicon to lead the markets as they have for decades.
His thoughtful critiques of market trends, issues, and participants have made him a regular on all the major market news networks. But it's Palihapitiya's modern takes and social media prowess that have allowed him to connect with the general public, growing his fame.
To learn a little bit more about what the billionaire former Facebook man has to say about all things markets, we've put together the top 10 quotes from his interview on Friday.
On Warren Buffett:
1. 'Nobody's going to listen to Buffett. Buffett doesn't have the energy to say what he said 30 and 40 years ago in 2021. And that's OK, he's basically earned the right to chill out and be the GOAT, but there have to be some other folks that take that mantle, take the baton and do it as well to this younger generation in the language they understand.'
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On Twitter being his preferred platform
2. 'I am is a byproduct of my generation and media culture, which is faceted. Not always great facets, but multifaceted. And so you have to speak in the language of the times in order to get your point across.'
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On the GameStop saga, hedge funds, and short-selling:
3. 'I doubt that, in the end, in the final analysis, that there was any collusion of any kind. But just the stench of this whole thing just goes to show you how difficult it is for normal everyday folks to have access to any kind of return. So if we break down the capitalist philosophy, they are just fundamentally stuck in this cul-de-sac of always being labor. And always being sort of at the ownership of capital, of the ownership class.'
4. 'I still think hedge funds will do well. I still think that there are some folks who are incredibly talented who will make just a ton of money for themselves and their investors. But I think disclosure needs to go up.'
5. 'In terms of short-selling, I buy the fact that it's an important part of the market. I'm not a huge fan of it. I do think that certain folks really use it to run a neutral strategy, and ya know, I think that that's great. But I also think that now, in the world of social media, and we've seen this recently, disinformation can be used to not just cause political damage, but disinformation can also cause economic damage. And so, I think that the SEC is going to have to deal with that issue and figure that out.'
Read more:Cathie Wood and her analysts discuss why Tesla's $1.5 billion bitcoin purchase could trigger a wave of corporate investments, the fallout of the GameStop-AMC phenomenon, and their bullish views on the Chinese stock behind Clubhouse
On SPACs
6. 'I think that SPACs are very much here to stay. Using the language of inequality, it evens the playing field. It democratizes access to high growth companies. How? Because it allows retail and it allows long-tail institutional investors. Folks that might not have necessarily been tier one hedge funds, now they can also play.'
7. 'When I used to manage institutional capital in early-stage investing, I charged a 30% carry, no hurdle, no nothing. And people were willing to be that I could generate returns, and I have, you know, 30-plus percent over the last decade, that justified a 30% carry. Similarly, here on the deals that I do, I take a 20% carry. And I think that I can find targets and opportunities that will make that more than reasonable in the final analysis.'
On cryptocurrencies
8. 'I am building a fairly sizeable portfolio of what are called NFTs, non-fungible tokens, some digital art, some virtual trading cards, and these may sound crazy to some, but I do think that that's the next frontier of digital currency and digital assets. So I have been building a portfolio.'
On a big tech breakup
Chamath Palihapitiya Holdings
9. 'Well, I think they need to get regulated. I think that companies like Facebook and Google will be subject to much stricter laws. Section 230 will change and recognize them as quasi-publishers.'
10. 'For Microsoft, Apple, and Amazon, I don't think much is going to happen. The reason is because I think that those guys are generally on the right side of history, and they generally don't err towards the type of hot button issues that politicians care about. Facebook and Google threaten the institutionalized structures of power and influence that codify politics. Amazon Prime doesn't do that.'
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Read more:Goldman Sachs identifies the 25 stocks that short-sellers piled the most bearish bets upon even as Reddit traders squeezed out Wall Street
Chamath Palihapitiya Spacs