Chamath Palihapitiya - Lex Fridman podcast

November 2022

Mistakes and Learning

  • Cycle time of mistakes gets you to success
  • Error rate will diminish as you figure out the patterns behind the mistakes
  • Society teaches you that mistakes are bad; when you try something and it doesn't work - it's a mistake
  • Poker, companies, investing - making less mistakes than the other side
  • Business is just learning - you're exploring the dark space to get to the answer faster than other people.


  • You create value, lock in, dominance by moving down the stack (Apple hardware bare metal) not up the stack. Rather than a bad UI scrolling through a thousand movies, recommend a movie specific to that person. Closer to the end user.
  • Atomizing the previous trend. Platform -> app -> content creator.
  • Talking about the past past - loosening the knots.
  • The ritual of respecting the collective time of the unit.
  • The person that doesn't talk for 2 years and then the first thing they sat is non-obvious is a lot more valuable than the constant participator.