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The Pied Piper of SPACs | The New Yorker

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Chamath Palihapitiya says that the investment tool lets ordinary people get rich off startups. It may be hype—but hype can be its own economic engine.

Save this story Save this story In Silicon Valley , Chamath Palihapitiya, who has earned billions of dollars while tweeting things like “Im about to really fuck some shit up” to his 1.5 million followers, rarely requires identification beyond his first name. That’s in part because, in the past decade, he has spent significant time saying things in public that rich people aren’t supposed to say. Venture capitalists are “a bunch of soulless cowards.” Of hedge-fund managers: “Let them get wiped out. Who cares? They don’t get to summer in the Hamptons? Who cares?” (He made both proclamations after

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