Palihapitiya argues a 25 basis point cut is insufficient for a $32 trillion economy hampered by faulty data.
“So a 25 basis point cut to a $32,000,000,000,000 economy is not a strategy. And I think that the reason they don't know what to do exactly is because they have extremely faulty data.”
Palihapitiya proposes Congress require critical economic infrastructure to report anonymized data into blockchains for accurate economic measurement.
“I think we need to figure out a way, and this is where congress should get their act together, and pass an incentive or a requirement for certain parts of the critical economic infrastructure of America to report their data in an anonymized way into a broad set of blockchains.”