Billionaire founder of Social Capital Chamat Palihapitiya shared his perspective on success and innovation

At the moment, Chamat Palihapitiya is one of the most influential people in Silicon Valley, although his path began in a family of poor immigrants who moved to Canada from Sri Lanka.

He states, "Successful people are deeply insecure."

If you are happy with everything in your life, you hardly have an incentive to move. The more flaws in the system you see, the greater your desire to change your life, to make it comfortable. So some flaws can give you a boost. For example, Chamat Palihapitiya is genetically prone to diabetes. He is incapable of changing his genetics, but a fairly large portion of his investment goes into the healthcare system to fight diabetes. If you haven't received recognition a long time ago, you will get it in adulthood by working on things that really excite you. Only worry will motivate you.

Palihapitiya is convinced that passion is more important than education.

He never conducts interviews for more than 10-20 minutes. At this time that a person is worried and reveals his real self. Around the middle of the conversation, a task is unexpectedly given: "Think what you are deeply passionate about, and teach me this." It is at such moments that you can understand the value of an employee.

Most well-known institutions like Harvard or Stanford are useless because they teach you to do tasks for show. As a result, “specialists” are obtained who have a diploma, are confident in their own qualifications and are not ready to go deeper beyond the basic program. And at the same time, some uneducated guy from unknown regions of Spain may get into the company, who talks eagerly about the details of aerodynamics. Passion cannot be overlooked.

Using errors improves business processes.

There are professions in which you have no right to make mistakes. For example, a pilot error in an airplane can cost many people their lives. However, this happens only in professions where it is known exactly how it should be in reality. Business, research and some other areas are not.

You can achieve really great success only on a new path, walking along it blindly. You will be wrong, but it is the errors that will show you where you should not go. Scientists are looking not for confirmation of their theories, but for refutation of them. The innovator looks for gaps and mistakes to pave the way and create something completely new.

You won't catch big fish in a crowd of fishermen.

Investors grab onto trends and lose their individuality, and with it they lose income. Most invest in obvious ideas, where the way and terms of earnings are immediately clear. You must invest in uniqueness. Take the example of Elon Musk, he invests in the unobvious, succeeds and gets fame. A good idea sometimes works better than a stable and successful business.

You should learn to wait, not chase income right here and now.

Most often, investors place money in technology projects that will bring income as quickly as possible. The entire Silicon Valley is driven by speed and performance, forgetting what matters. Palizapitiya is invested in the environment, health care, education, as important inventions will bring much more income in the future.