India, June 27 -- 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.

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.

Palihapitiya, 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 ...