{"id":105104,"date":"2020-04-10T14:43:35","date_gmt":"2020-04-10T21:43:35","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2020\/04\/venture-capitalist-stuns-cnbc"},"modified":"2020-04-10T14:43:35","modified_gmt":"2020-04-10T21:43:35","slug":"venture-capitalist-stuns-cnbc","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2020\/04\/venture-capitalist-stuns-cnbc","title":{"rendered":"Venture Capitalist Stuns CNBC"},"content":{"rendered":"<p><\/p>\n<p><iframe style=\"display: block; margin: 0 auto; width: 100%; aspect-ratio: 4\/3; object-fit: contain;\" src=\"https:\/\/www.youtube.com\/embed\/NvEWez59fbI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope;\n   picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Venture capitalist Chamath Palihapitiya stunned <em>CNBC<\/em> anchor Scott Wapner and generated widespread applause on social media by declaring in a television interview Thursday that the U.S. government should let hedge funds and billionaire CEOs \u201cget wiped out\u201d by the coronavirus-induced economic collapse and instead focus its attention on rescuing Main Street.<\/p>\n<p>When Wapner, seemingly incredulous at what he was hearing, asked Palihapitiya why he would support the collapse of large companies, the Social Capital CEO said \u201cthis is a lie that\u2019s been purported by Wall Street.\u201d<\/p>\n<p>\u201cWhen a company fails, it does not fire their employees, it goes through a packaged bankruptcy,\u201d said Palihapitiya. \u201cIf anything what happens is the people who have the pensions inside the companies, the employees of these companies, end up owning more of the company. The people that get wiped out are the speculators that own the unsecured tranches of debt or the folks that own the equity. And by the way, those are the rules of the game. That\u2019s right. These are the people that purport to be the most sophisticated investors in the world. They deserve to get wiped out.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Venture capitalist Chamath Palihapitiya stunned CNBC anchor Scott Wapner and generated widespread applause on social media by declaring in a television interview Thursday that the U.S. government should let hedge funds and billionaire CEOs \u201cget wiped out\u201d by the coronavirus-induced economic collapse and instead focus its attention on rescuing Main Street. When Wapner, seemingly incredulous [\u2026]<\/p>\n","protected":false},"author":542,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,39,1490],"tags":[],"class_list":["post-105104","post","type-post","status-publish","format-standard","hentry","category-biotech-medical","category-economics","category-government"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/105104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=105104"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/105104\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=105104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=105104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=105104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}