Watch Chamath Palihapitiya warn about 'zombie companies' and oppose bailouts for billionaires

Chamath Palihapitiya
Olivia Michael | CNBC

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Social Capital founder and CEO Chamath Palihapitiya said Thursday the U.S. government should not bail out hedge funds and the wealthiest investors as it tries to prop up the economy.

"We are misallocating vast swaths of money," Palihapitiya said on CNBC's "Halftime Report," "and in it we're creating a bigger problem that has nothing to do with how people work or recover. It has everything to do with how balance sheets are valued, how assets are valued."

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