Why venture capitalist Chamath Palihapitiya is getting roasted for saying possessions are 'worthless'

Chamath Palihapitiya, founder of Social Capital, faced criticism for calling possessions 'worthless' while appearing to wear a $2,700 Loro Piana sweater. Critics highlighted the contradiction, though Palihapitiya denied the item was from the luxury brand. The backlash occurs amid a tech-driven AI boom and shifting luxury market trends.