VCs ‘living in a fantasy world’, Fed rate hikes ‘akin to cold water thrown in our faces’ says ‘SPAC King’ Chamath Palihapitiya

The erstwhile "SPAC King" Chamath Palihapitiya, the founder of Social Capital, said in an annual letter to investors that the Federal Reserve's interest-rate hikes over the past year have been "akin to getting cold water thrown in our faces."