Billionaire investor and venture capitalist Chamath Palihapitiya has weighed in on the heated debate around H-1B visas, saying the US should continue welcoming highly skilled immigrants but must fix problems that have damaged public trust in the system.Billionaire investor Chamath Palihapitiya spoke out about H-1B visas. (X/@chamath)Speaking on The Axios Show with Dan Primack, Palihapitiya reflected on his own journey as an immigrant and explained why he believes the H-1B program needs changes. While defending the value of skilled immigration, he also acknowledged concerns raised by many Americans who feel the system is no longer working as intended.Chamath Palihapitiya on H-1B visaPalihapitiya, who was born in Sri Lanka and later moved to Canada before settling in the United States, said he arrived in America on an H-1B visa in the early 2000s.“I came on an H1B visa. Elon came on an H1B visa. This is in the early 2000s. Why? Nobody was applying for these things. And who did you have? Forget about me, I’m irrelevant, but you had guys like him, you had these incredible scientists, Urs Hölzle that ends up with Google. These are giants.”He contrasted that period with today’s situation, where demand for H-1B visas far exceeds available slots.“Coming to today’s H-1B situation,” he said, “now 800,000 applications come for 20,000 slots.”According to Palihapitiya, the discussion should not be about ending immigration. Instead, he argued that the focus should be on ensuring the system rewards exceptional talent and remains fair.“We can stipulate the following two things: Immigration is really good. We should be attracting the best. And they should want to be here. But we should also make it fair so that the best of the best of the best who have been getting heismanned for the last five years, because a handful of companies in certain countries have abused this system.”Also Read: H-1B alert: Trump's $100K visa fee status unclear after judge's temporary stay on ruling; USCIS continues issuing RFEsChamath Palihapitiya calls for reformsDuring the interview, Palihapitiya also addressed criticism directed at people like him who benefited from the immigration system.“You need to stop and tourniquet the bleeding so that you can reestablish trust with the American population at large. There are a lot of people that look at me and say, ‘That guy’s part of the problem.’ You can see it in the comments on X. And I’m like, ‘Wow, me?’”He said many Americans believe the program has sometimes been used in ways that put downward pressure on wages.“They see the people that show up and they’re like, ‘This person is not smarter than me. All I can see is wage suppression.’ We have a responsibility to the people who are working and paying into the system to answer their questions honestly. You can’t stipulate and ignore it. You can’t. Sometimes you gotta say, ‘You know what? That was gross abuse.’”Also Read: Google techie returns to US after letting go of H-1B visa, staying in India for 10 yearsThe comments came during a wider discussion on immigration, artificial intelligence and economic change, with Palihapitiya arguing that the US should continue attracting top global talent while restoring confidence in how the H-1B system operates.