Chamath Palihapitiya

The most obvious impact is how these tech companies recruit and retain talent because the biggest thing that it starts to eat into are the cash flows of a business, which really directly tied to stock-based comp and all this other stuff.

The most obvious impact is how these tech companies recruit and retain talent because the biggest thing that it starts to eat into are the cash flows of a business, which really directly tied to stock-based comp and all this other stuff.

But let me just stop there.

But let me just stop there.

So we have moved away from a when

So we have moved away from a when

to now an if, and I think that that is a very smart question to be asking.

to now an if, and I think that that is a very smart question to be asking.

The answer may be for many of these companies that they will survive, but we don't know how long, and until that becomes clearer, you have to give yourself room to be wrong.

The answer may be for many of these companies that they will survive, but we don't know how long, and until that becomes clearer, you have to give yourself room to be wrong.

You said when, then if, did you mean if?

You said when, then if, did you mean if?

No, no, no, no.

No, no, no, no.

To when?

To when?

We've always debated when.

We've always debated when.

When will these cash flows disappear?

When will these cash flows disappear?