The chairman of Seattle-based company Expedia said the economy will get a lot worse before it gets better due to the COVID-19 pandemic.
Barry Diller appeared on "Face the Nation" Sunday and gave the sobering talk.
“The damage that’s being done is catastrophic,” Diller said. “You’re going to have a massive amount of businesses that can’t return, businesses that go bankrupt. It’s inevitable.”
While he said there’s “no chance” of economic rebound by the summer, Diller said the economy could start to return in the fall.
“By September, possibly I think, we’ll see some things economically return. I think people will be going back to work,” he said.
Diller said what the nation needs most right now, is clear and uniform guidance from leading researchers and the White House. However, he called President Donald Trump a “witch doctor” who won’t tell the truth.
In 2015, President Donald Trump tweeted that Diller regularly criticizes him.
Little Barry Diller, who lost a fortune on Newsweek and Daily Beast, only writes badly about me. He is a sad and pathetic figure. Lives lie!— Donald J. Trump (@realDonaldTrump) October 10, 2015
Diller, whose net worth is reportedly more than $3 billion, founded the Fox network in 1986. He also served for many years as chairman for IAC/InterActiveCorp, which runs Tinder, Hinge, Match.com and HomeAdvisor, among other businesses and internet ventures.
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