US stimulus actions were a 'drunken binge': Chamath Palihapatiya - Business Insider

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Billionaire Chamath Palihapitiya says the Fed and Treasury's actions at the start of coronavirus were a 6-week-long 'drunken binge'

and the other companies that needed help to bridge the time between the coronavirus and a normal resumption of business." hours in recent weeks, despite a provision of the federal coronavirus bailout prohibiting layoffs or furloughs before September 30.

He noted that American Airlines is looking to cut jobs on 1 October, meaning the bailout was, in his eyes, essentially pointless."In no event did this capital do anything other than dilute the actual problem in hand and confuse us all into thinking what the problem was."A venture capital fund set up by 2 ex-Googlers has raised a $60 million to invest in deep tech

 

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