Oleg Zabluda's blog
Sunday, September 09, 2018
 
What went wrong at Social Capital
What went wrong at Social Capital
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Social Capital arrived in Silicon Valley seven years ago with a charismatic co-founder, former Facebook executive Chamath Palihapitiya [...] It raised more than $1 billion and made early bets on companies like Slack.

The firm is imploding and nine sources blame Palihapitiya for its demise.
[...]
The first outward sign of trouble came in August 2017, when co-founder Mamoon Hamid left to join rival venture capital firm Kleiner Perkins. It was Hamid who led the Slack deal, and many of Social Capital's limited partners viewed him as the firm's "top rainmaker."

Soon after came the resignation of Social Capital's third co-founder, Ted Maidenberg. Like Hamid, Maidenberg was frustrated by Palihapitiya's push to prioritize data in the VC investment process, which is traditionally based on a more high-touch, personal approach.
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https://www.axios.com/social-capital-collapse-0c3257ab-b599-4047-b5cc-5d465419b373.html
https://www.axios.com/social-capital-collapse-0c3257ab-b599-4047-b5cc-5d465419b373.html

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