Chamath Palihapitiya: This Will DESTROY Everything. Why Bitcoin, Ethereum & Defi Will End Capitalism
Chamath Palihapitiya thinks that the rise of decentralised blockchains, such as Ethereum and Solana will be the down-fall of Capitalism itself and is the most incredibly positively destructive force he has ever seen and will be a monumental destroyer of wealth.
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So recently, the All in Podcast, which is hosted by Chamath Palihapitiya and three of his close friends, Jason Calacanis, David Sacks and David Friedberg, did a live episode in front of an audience and the conversation steered towards Cryptocurrency and a decentralised financial system.
In this video, we will highlight what Chamath and Co. think about the evolving world of decentralised finance and why it’s not as bright and positive as you first may think.
An interesting theme they highlight is how if we view major Investing waves as a prediction market for what high net worth and smart people think the future will look like, the underlying themes of Cryptocurrency investment, being mistrust of governments, debasement of fiat currencies – it paints a very dystopian vision of the future.
Make sure to stick around to the end where Chamath speaks on why that if you are in the position to gain capital or power, you have the moral responsibility to help steer the direction of the future. Also, we will cover some of the latest on-chain data for Ethereum that suggests where the price is heading, short term.
Chamath Palihapitiya is a Canadian-American venture capitalist, engineer, SPAC sponsor and the founder and CEO of Social Capital. Palihapitiya was born in Sri Lanka, and moved to Canada with his family at the age of six. Palihapitiya was an early senior executive at Facebook, working at the company from 2007 to 2011.
Credits:
All-In Podcast
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TIMESTAMPS:
0:00 “This will DESTROY Everything…”
1:33 What is Crypto a Bet on? (Inflation)
2:09 DeFi DESTROYS Capitalism… (How?)
3:38 This will Destroy Wealth.
4:12 Rebuilding the Future is Going to be Ugly.
5:21 DeFi & Ethereum will be the Future of Finance (Intellectual Capital)
7:26 Capital = Power (Chamath Explains)
9:23 Ethereum On-Chain Data (BULLISH!)
10:04 Cathie Wood – ‘Follow the Developers’
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#Bitcoin #Ethereum #Chamath