This Billionaire Says the Recession Is Happening In Phases, and We’re Now In the First Part

CEO of Social Capital Chamath Palihapitiya speaks onstage during "The State of the Valley: Where’s the Juice?" at the Vanity Fair New Establishment Summit at Yerba Buena Center for the Arts in San Francisco, Calif., on Oct. 19, 2016. Mike Windle/Getty Images for Vanity Fair

Venture capitalist and Social Capital owner Chamath Palihapitiya say that the world is experiencing a supply-side recession, which is the first part of the process.

In a recent interview, Palihapitiya warns that the global economy appears on track to witness phases of recession.