"I think Facebook gets regulated, I think Google will have to go through a bunch of divestitures to avoid regulation, I think Netflix has turned into a consumer surplus business and their viability to cash flow is de minimis," the venture capitalist said in a "Squawk Box" interview.
Palihapitiya, who has been bullish on Amazon for years, took a different stance on Amazon. He said Amazon will continue to grow at a rate of 25% per year "like clockwork."
Palihapitiya, one of Silicon Valley's most outspoken investors and an early Facebook executive, said in 2016 that Amazon will reach a $3 trillion valuation within 10 years. Amazon joined the trillion-dollar market cap club in January. It currently sits just below a $1 trillion valuation due to market swings related to the coronavirus.
Palihapitiya's comments come as U.S. lawmakers and regulators hone in on Big Tech due to antitrust concerns.
Leaders of the House Judiciary Committee in September requested documents from Amazon, Apple, Facebook and Alphabet, raising antitrust concerns. The Federal Trade Commission said in February that it's examining prior acquisitions made by Alphabet, Amazon, Apple, Facebook and Microsoft. And the DOJ in July announced a broad antitrust review of big tech.
Palihapitiya didn't say on Wednesday why he thinks Amazon will continue to grow while other companies that are also being investigated may be regulated.