speaks onstage at the TechCrunch Disrupt NY 2013 at The Manhattan Center on April 29, 2013 in New York City.

ISSUE – Jan. 13 | Social Capital’s Chamath Palihapitiya: It’s Time To Go After ‘Hard Things’

Solving challenges like healthcare require a longer-term outlook and a willingness to work with regulatory bodies. VC investment right now is focused on generating press and quick returns, rather than on creating real value, according to Chamath Palihapitiya, founder of VC firm Social Capital. Venture capitalists have the classic definition of the “principal-agent problem,” as they never invest their own money,  Palihapitiya said. “You’re there to get credit, [get] a TechCrunch article, to get a press release.” It fosters a culture where people get promoted for “making good decks… not creating value.” [ CB Insights ]
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