During the deepest, most terrifying days of the COVID-19 market crash in April 2020, billionaire investor Chamath Palihapitiya went on CNBC for what the anchors likely thought would be a standard interview about saving the economy. Instead, he delivered a cold-blooded, unfiltered defense of absolute capitalism that completely stunned host Scott Wapner.

When asked if the government should step in to bail out struggling airlines and massive hedge funds, Chamath bluntly replied: “Let them get wiped out.” Wapner was visibly shocked, stammering about the broader economic impact, but Chamath doubled down, arguing that everyday employees would be fine through bankruptcy restructuring, but the wealthy CEOs and hedge fund managers who took reckless risks deserved to lose everything. “Who cares?” he said. “They don’t get to summer in the Hamptons? Who cares!” The sheer ruthlessness of a billionaire advocating for the financial destruction of his peers on live TV instantly went viral.

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Credits: CNBC

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