
2019 Annual Letter by Social Capital - raleighm
https://www.socialcapital.com/annual-letters/2019
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the_watcher
> I have tried to recruit too many smart people who are wasting their prime
> years of productivity working in Big Tech because ‘the pay is too good’.

This is the most honest sentence in the entire piece: We should remove the
choice of individuals to work at Big Tech Cos because I want them to work on
something else for less money. This whole essay is embarrassing for Chamath.

Edit: Almost unbelievably, he closes with this: "Take the advice of others but
carefully consider how it applies to you. What works for others may not work
for you."

Also can't help but laugh that he compares Social Capital performance to
Berkshire. Social Capital outperformed the S&P by 19%, BH by 155%

~~~
the_watcher
I'll add that I agree with him that more companies should try the Netflix
approach of all cash comp, with stock for purchase (particularly the cash flow
monsters). But he's just so convinced that he's right that he also thinks we
need _force_ everyone to come to his conclusion.

