Maverick

Chamath: “I got it totally wrong. This election was a complete and total repudiation about the state of the economy. The economy is broken.” “What I don't think I understood clearly enough, and I think that this election has made it extremely clear, is that since COVID, we have moved past political ideology. And I want to say this again, I do not think Democrats or Republicans matter. That is my real takeaway after this election. There is a central bloc of people that vote on the prescient issues of our time. What are these people voting for? I think what they are shouting now, they were trying to signal, and now they are shouting, is a broad-based belief that the economy has completely decoupled from reality and is broken. The economic reality in America is broken. There is a small percentage of people, the four of us on this pod and all of our friends, who are the asset owners of America, and we have benefited in every weather condition. When rates were zero, we benefited because we were able to build our businesses with very cheap capital. When rates were high, we benefited because we had pricing power. And in every condition in between, we've all managed to continue to accumulate and grow assets, but we are few and far between. And then there's everybody else who are wage earners, and the structural capacity of the American economy to support and grow wage earners is broken. I don't think this has anything to do with socialism. I don't think the far left won particularly more than they were expected to. I don't think the far right won particularly more than was expected. This was a complete and total repudiation about the state of the economy. The economy is broken.”