Here’s what Chamath Palihapitiya thinks about Tesla, SPACs, and Bitcoin

on Sep 30, 2021
  • Chamath Palihapitiya says he is a little skittish on the market.
  • The venture capitalist agrees he completely underestimated Tesla.
  • Palihapitiya says he'd avoid investing in China due to uncertainty.

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Chamath Palihapitiya is a little “skittish” about the market, the founder and CEO of Social Capital revealed in an interview with CNBC’s Scott Wapner at the news channel’s Delivering Alpha Conference on September 29th.

The venture capitalist still owns businesses with significant growth potential and finds offline businesses exciting as they are “highly cash flow generative”.

Palihapitiya’s outlook on China, Tesla, and BTC

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In his interview, Palihapitiya said he would rather avoid investing in China due to the rising uncertainty. He also took the opportunity to clarify an earlier “misreport” that said he sold his “entire” personal stake in Virgin Galactic, disclosing he still owns “a lot of Virgin Galactic”.

According to Palihapitiya, his thesis on Tesla Inc (NASDAQ: TSLA) has changed “slightly”. He’s now bullish on the leading U.S. electric car manufacturer but said he doesn’t have a sizable stake in Tesla, citing “limited capital”.

The Sri Lankan-born Canadian expects Bitcoin to continue expanding its market cap as it has “effectively replaced gold”. He, however, refrained from predicting the price of the crypto asset.

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Palihapitiya’s remarks on SPAC bubble

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Commenting on the SPAC bubble, Palihapitiya said:

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I do think that in the beginning of every market, you have a few people that pioneer something, and then you have a lot of fast followers. It’s important to take a step back when you have all that fast following to sort it out. I think we’re in the midst of sorting that out and separating the wheat from the chaff.

Palihapitiya says he doesn’t care if he pays 40% in taxes or 60%; he only cares that “things get better”.


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