'It's largely gonna go to waste and it distorts the market': Billionaire investor Chamath Palihapitiya blasts the Fed and Treasury for spending billions to help companies instead of consumers
"Would I love to be isolating certain things that I think are not set up for success, or trying to buy cheap things? Sure, but it's not possible right now," he continued.Palihapitiya argued US authorities should have focused on getting cash into people's pockets instead of helping businesses, as consumer spending accounts for the bulk of gross domestic product.
Later in the Yahoo Finance interview, Palihapitiya shared several examples of people ridiculing his investments and predictions.
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