Bitcoin billionaire and founder of venture capital fund Social Capital Chamath Palihapitiya is sharing his strategy for attaining financial freedom.
In a new interview with Shane Parrish of The Knowledge Project, Palihapitiya says building a network of people with shared values and a shared sense of identity and working toward a common goal, can provide a strong foundation that individuals can leverage to achieve financial freedom.
“To me, if we can give people a more reasonable roadmap where they can execute it, they can learn and they can have a community of other like-minded folks that can put in the time and work and help each other over five, ten, fifteen, twenty years to compound capital no matter how small, but just to start, I think you’d be surprised at how many people are intellectually capable of achieving financial freedom on their own. And in that, I think there is a path out of this kind of very depressing state that we’re in.”
As an example, Palihapitiya highlights his experience within the Tesla community. In 2015, Palihapitiya says he found a community of investors who were crowdsourcing knowledge on the company, which led him to bet on Elon Musk.
“There was so much knowledge that helped us feel like we were making the right decision. It existed in this long tail of people who took it upon themselves to build a community that wanted to understand the company, not necessarily to be a blind cheerleader, but they would really go and double click and they were doing a level of work that was incredible.”
