1 00:00:02,720 --> 00:00:16,360 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:18,480 --> 00:00:21,840 Speaker 2: Hello and welcome to another episode of The Odd Lads podcast. 3 00:00:21,880 --> 00:00:25,840 Speaker 3: I'm Joe Wisenthal and I'm Tracy Alloway, former Odd. 4 00:00:25,760 --> 00:00:28,360 Speaker 2: Lad's guest is very likely to be the next mayor 5 00:00:28,360 --> 00:00:29,040 Speaker 2: of New York City. 6 00:00:29,240 --> 00:00:31,760 Speaker 3: That's right. So we interviewed Zora and Mumdanie. I think 7 00:00:31,760 --> 00:00:35,400 Speaker 3: it was in early May and right after that. I'm 8 00:00:35,400 --> 00:00:38,279 Speaker 3: not saying I'm not going to take credit for this, 9 00:00:38,520 --> 00:00:41,000 Speaker 3: but right after that he really started to surge in 10 00:00:41,040 --> 00:00:44,559 Speaker 3: the polls and he went on to win the Democratic nomination. 11 00:00:44,760 --> 00:00:47,519 Speaker 2: I think we think very very minor credits. 12 00:00:47,520 --> 00:00:48,640 Speaker 3: I'm sure it was a coincidence. 13 00:00:48,680 --> 00:00:52,199 Speaker 2: The thing actually that struck me after that episode was 14 00:00:52,240 --> 00:00:55,680 Speaker 2: hearing from a lot of people who were basically like, 15 00:00:56,280 --> 00:00:58,880 Speaker 2: I don't like any of his ideas at all, but 16 00:00:58,960 --> 00:01:02,240 Speaker 2: I still like the guy, and I still found him 17 00:01:02,280 --> 00:01:08,360 Speaker 2: impressive and intelligent and very strong understanding of policy. And look, 18 00:01:08,440 --> 00:01:11,360 Speaker 2: I don't think his victory is attributable to us, but 19 00:01:11,480 --> 00:01:14,720 Speaker 2: I did think that was telling in the sense that 20 00:01:14,800 --> 00:01:18,120 Speaker 2: a lot of people who maybe on paper shouldn't or 21 00:01:18,120 --> 00:01:21,600 Speaker 2: wouldn't really like some of his views, didn't seem particularly 22 00:01:21,680 --> 00:01:24,480 Speaker 2: threatened by him, which I thought was really interesting and 23 00:01:24,520 --> 00:01:27,960 Speaker 2: may have contributed to his sort of extraordinary margin is 24 00:01:28,000 --> 00:01:29,000 Speaker 2: extraordinary victory. 25 00:01:29,280 --> 00:01:31,840 Speaker 3: I do think what's interesting about this whole story is 26 00:01:32,000 --> 00:01:36,160 Speaker 3: the tension between New York City as this hub of capitalism, 27 00:01:36,400 --> 00:01:39,240 Speaker 3: this hub of business. You have a lot of money here, 28 00:01:39,319 --> 00:01:42,479 Speaker 3: a lot of billionaires obviously with their own interests, and 29 00:01:42,560 --> 00:01:47,200 Speaker 3: now you have this democratic socialist candidate who's proposing something 30 00:01:47,440 --> 00:01:49,480 Speaker 3: a little bit new. Although some people would say we 31 00:01:49,560 --> 00:01:52,040 Speaker 3: had something more similar to that in say the nineteen 32 00:01:52,080 --> 00:01:55,800 Speaker 3: fifties nineteen sixties New York. But that tension is what 33 00:01:55,880 --> 00:01:57,760 Speaker 3: I find really fascinating right now. 34 00:01:58,000 --> 00:02:00,760 Speaker 2: Yeah, so we have to we have to learn more. 35 00:02:00,800 --> 00:02:02,720 Speaker 2: I mean again in the run up to the election. Look, 36 00:02:02,760 --> 00:02:07,280 Speaker 2: what are New York City's business financial elites thinking right now? 37 00:02:07,320 --> 00:02:10,160 Speaker 2: What do they think of a possible I'm Donnie Merrilty. 38 00:02:10,639 --> 00:02:12,640 Speaker 2: What do they think about New York City in general? 39 00:02:12,720 --> 00:02:15,639 Speaker 2: All of this stuff, There's there's a lot to learn. 40 00:02:15,680 --> 00:02:18,000 Speaker 2: This is going to be a rich vein of interesting 41 00:02:18,320 --> 00:02:19,280 Speaker 2: stuff for us for a while. 42 00:02:19,320 --> 00:02:22,080 Speaker 3: We're going all New York local politics, I guess, But 43 00:02:22,280 --> 00:02:24,919 Speaker 3: I do think it has national consequences. 44 00:02:24,240 --> 00:02:25,960 Speaker 2: Internet, so we should talk about it. We should definitely 45 00:02:26,000 --> 00:02:29,360 Speaker 2: talk about anyway. I'm really excited. We do have, indeed 46 00:02:29,560 --> 00:02:35,240 Speaker 2: the perfect guest to talk about how the city's business elite, billionaires, etc. 47 00:02:35,520 --> 00:02:38,560 Speaker 2: Are thinking about the city, think about the election, the 48 00:02:38,680 --> 00:02:41,960 Speaker 2: possibility of Donnie being the mayor. We're going to be 49 00:02:42,000 --> 00:02:45,040 Speaker 2: speaking with Kathy Wilde. She's the president and CEO of 50 00:02:45,120 --> 00:02:48,160 Speaker 2: the Partnership for New York City, which is an organization, 51 00:02:48,320 --> 00:02:53,000 Speaker 2: a business leadership organization here all kinds of major employers. 52 00:02:53,280 --> 00:02:56,720 Speaker 2: If you read any article about Kathy in the media, 53 00:02:57,680 --> 00:03:01,080 Speaker 2: described as sort of one of the ultimate power brokers 54 00:03:01,200 --> 00:03:02,400 Speaker 2: of New York City. 55 00:03:02,520 --> 00:03:05,840 Speaker 3: Yeah, words like power brokers, power player comes up. 56 00:03:05,919 --> 00:03:09,520 Speaker 2: In every single one, and so truly the perfect guest. So, Kathy, 57 00:03:09,639 --> 00:03:10,760 Speaker 2: thank you so much for coming on. 58 00:03:10,720 --> 00:03:12,560 Speaker 4: Oud lots, thank you for having me, Joe and. 59 00:03:12,560 --> 00:03:15,519 Speaker 2: To absolutely we're really excited. What do you just before 60 00:03:15,600 --> 00:03:18,280 Speaker 2: we move on, describe what the Partnership for New York 61 00:03:18,280 --> 00:03:21,000 Speaker 2: City is and what you basically do there. 62 00:03:21,120 --> 00:03:24,560 Speaker 4: The Partnership is business working in the interests of the city. 63 00:03:24,639 --> 00:03:27,560 Speaker 4: It's not a chamber of commerce. It was organized after 64 00:03:27,600 --> 00:03:32,000 Speaker 4: the city's nineteen seventy five physical crisis by David Rockefeller, 65 00:03:32,000 --> 00:03:34,320 Speaker 4: who was then the chair of Chase Bank. And other 66 00:03:35,000 --> 00:03:39,760 Speaker 4: CEOs of the major corporations that were not just businesses 67 00:03:39,800 --> 00:03:43,640 Speaker 4: headquartered in New York, but were real citizens of New 68 00:03:43,760 --> 00:03:48,040 Speaker 4: York and trustees of its hospitals and museums, and real 69 00:03:48,080 --> 00:03:52,400 Speaker 4: contributors to the city as philanthropists. So it is very 70 00:03:52,520 --> 00:03:57,880 Speaker 4: much a business organization that is designed to tap the 71 00:03:57,920 --> 00:04:02,880 Speaker 4: expertise and the influence of the business community to support 72 00:04:03,160 --> 00:04:07,000 Speaker 4: New York City and to maintain it as the city 73 00:04:07,040 --> 00:04:08,880 Speaker 4: of great economic opportunity. 74 00:04:09,680 --> 00:04:15,320 Speaker 3: What's the partnership's relationship like typically with the mayoral administration 75 00:04:15,480 --> 00:04:19,240 Speaker 3: and are there examples where you've worked together to effectively 76 00:04:19,279 --> 00:04:22,560 Speaker 3: do something or maybe change the path of policy. 77 00:04:22,920 --> 00:04:27,320 Speaker 4: Well, absolutely, the partnership's relationship to government is really as 78 00:04:27,360 --> 00:04:30,919 Speaker 4: an intermediary between business and government, as I said, to 79 00:04:30,960 --> 00:04:35,720 Speaker 4: provide expertise, to provide advice, to give feedback, really to 80 00:04:35,720 --> 00:04:41,880 Speaker 4: be a resource more than an adversary with the local government, 81 00:04:41,960 --> 00:04:47,200 Speaker 4: in particular local state government and some extent the federal government. 82 00:04:47,279 --> 00:04:50,320 Speaker 4: When there are overriding issues that make a big impact 83 00:04:50,360 --> 00:04:53,359 Speaker 4: on New York that are being considered in Washington. 84 00:04:53,560 --> 00:04:56,760 Speaker 2: When did Zoron come on the radar of the people 85 00:04:56,800 --> 00:05:00,440 Speaker 2: that you talk to, of the CEOs, etc. In the like, 86 00:05:00,520 --> 00:05:01,360 Speaker 2: was it a month before? 87 00:05:01,480 --> 00:05:01,640 Speaker 3: Was he? 88 00:05:01,720 --> 00:05:04,159 Speaker 2: Were they thinking about him at all? Three months before 89 00:05:04,200 --> 00:05:06,440 Speaker 2: the election? I'm sort of curious, like when it may 90 00:05:06,440 --> 00:05:09,440 Speaker 2: have flickered in their minds that the Democratic Party could 91 00:05:09,520 --> 00:05:10,960 Speaker 2: nominate a socialist. 92 00:05:11,200 --> 00:05:15,120 Speaker 4: I would have to say that it was primary night 93 00:05:15,160 --> 00:05:16,400 Speaker 4: about ten o'clock. 94 00:05:16,800 --> 00:05:20,200 Speaker 2: Really, it's incredible to me. 95 00:05:20,680 --> 00:05:24,880 Speaker 4: Well, I had forewarned them that it was a possibility, 96 00:05:25,000 --> 00:05:28,920 Speaker 4: but I think Cromo had been a figure in their 97 00:05:29,000 --> 00:05:34,400 Speaker 4: lives as Mario's son, as attorney general, as governor for 98 00:05:35,040 --> 00:05:39,240 Speaker 4: twenty some years, and it was kind of a foregone conclusion, 99 00:05:39,600 --> 00:05:42,240 Speaker 4: is the guy we know who's now running for mayor 100 00:05:42,360 --> 00:05:46,440 Speaker 4: is going to be mayor? And especially after Mayor Adams 101 00:05:46,480 --> 00:05:48,880 Speaker 4: announced he was not going to be in the Democratic primary, 102 00:05:48,960 --> 00:05:53,080 Speaker 4: and so they had kind of zeroed in on accepting 103 00:05:53,120 --> 00:05:56,440 Speaker 4: that it was going to be Cromo, and really no 104 00:05:56,520 --> 00:05:58,920 Speaker 4: one had met zorun. 105 00:06:00,000 --> 00:06:02,440 Speaker 3: What is the mood like on primary night? Did everyone 106 00:06:02,480 --> 00:06:05,240 Speaker 3: immediately go home and start looking up socialism on the 107 00:06:05,279 --> 00:06:06,400 Speaker 3: internet on chat GPT? 108 00:06:06,960 --> 00:06:10,200 Speaker 4: Well, I would say hysteria would be a good word 109 00:06:10,200 --> 00:06:14,520 Speaker 4: for shock. Was first shock first and what happened? And 110 00:06:14,640 --> 00:06:18,520 Speaker 4: who is this person? And so I tried to provide 111 00:06:18,520 --> 00:06:22,080 Speaker 4: some reassurance. We had for the past twenty years led 112 00:06:22,160 --> 00:06:26,200 Speaker 4: efforts to bring congestion pricing to New York City to 113 00:06:26,520 --> 00:06:29,719 Speaker 4: both manage traffic but to really make the city a 114 00:06:29,760 --> 00:06:33,239 Speaker 4: more efficient place. Excess traffic congestion was costing the city 115 00:06:33,320 --> 00:06:36,560 Speaker 4: twenty billion dollars a year with lost time, lost productivity, 116 00:06:37,000 --> 00:06:39,800 Speaker 4: and what makes New York a great place to work 117 00:06:39,960 --> 00:06:43,800 Speaker 4: is the productive workforce. So we'd been an advocate of 118 00:06:43,920 --> 00:06:48,840 Speaker 4: congestion pricing, and I had actually met Zoron in that 119 00:06:49,000 --> 00:06:53,080 Speaker 4: context at the Rider's Alliance where it's a group of 120 00:06:53,200 --> 00:06:58,039 Speaker 4: subway riders advocates, and had found him to be a 121 00:06:58,160 --> 00:07:01,360 Speaker 4: very smart, interesting young man. So I had known him, 122 00:07:01,360 --> 00:07:05,400 Speaker 4: and then he reached out to me last September and said, 123 00:07:05,720 --> 00:07:09,200 Speaker 4: I'd like to talk to you about my mayoral prospects 124 00:07:09,240 --> 00:07:13,760 Speaker 4: when he was polling at one percent, and so I 125 00:07:13,800 --> 00:07:17,000 Speaker 4: met him for coffee at the LPQ at eighty five 126 00:07:17,080 --> 00:07:20,800 Speaker 4: Broad and we had a conversation, and I found him 127 00:07:21,040 --> 00:07:26,000 Speaker 4: to be smart, and I took him seriously from then on. 128 00:07:26,280 --> 00:07:30,200 Speaker 2: HM. I'm impressed from his perspective that that early on 129 00:07:30,800 --> 00:07:33,640 Speaker 2: he wanted to sort of build that connection or make 130 00:07:33,680 --> 00:07:36,800 Speaker 2: that connection with you before you talk more about him. 131 00:07:36,880 --> 00:07:40,960 Speaker 2: A friend of mine described you as a therapist to 132 00:07:41,080 --> 00:07:44,880 Speaker 2: the New York City billionaires. They were hysterical on or 133 00:07:44,880 --> 00:07:47,840 Speaker 2: they're experiencing hysteria on primary night. Did you feel like 134 00:07:48,320 --> 00:07:50,520 Speaker 2: that was your role in that night? Did you feel 135 00:07:50,520 --> 00:07:52,720 Speaker 2: like a therapist to the members of the partnership? 136 00:07:52,760 --> 00:07:56,840 Speaker 4: To provide reassurance to the business community, I mean, number one, 137 00:07:57,040 --> 00:08:00,000 Speaker 4: to remind them that many of the things they want 138 00:08:00,080 --> 00:08:05,920 Speaker 4: are most worried about from a Democratic Socialist candidate were 139 00:08:05,920 --> 00:08:10,520 Speaker 4: things that he has absolutely no capacity to execute on. So, 140 00:08:10,680 --> 00:08:14,840 Speaker 4: for example, raising corporate and income taxes is not something 141 00:08:14,880 --> 00:08:19,240 Speaker 4: that the city or the mayor can do. Free buses 142 00:08:19,480 --> 00:08:22,960 Speaker 4: is not something the mayor can do, and figuring out 143 00:08:23,080 --> 00:08:28,080 Speaker 4: where you make up that eight hundred million in revenues. 144 00:08:28,480 --> 00:08:33,480 Speaker 4: So that was number one, reassuring them that we have 145 00:08:33,640 --> 00:08:38,480 Speaker 4: a moderate governor who's watching out for business interests, who 146 00:08:38,520 --> 00:08:42,400 Speaker 4: says she's not going to further raise taxes in New York, 147 00:08:42,440 --> 00:08:45,199 Speaker 4: which is the highest tax city in the country and 148 00:08:45,240 --> 00:08:48,800 Speaker 4: in most cases the world for both individual income tax 149 00:08:48,880 --> 00:08:52,559 Speaker 4: and corporate tax. So that was number one, providing reassurance 150 00:08:52,760 --> 00:08:56,880 Speaker 4: that as mayor, he would have an agenda. But there 151 00:08:56,880 --> 00:08:59,320 Speaker 4: are a lot of checks and balances to work through 152 00:08:59,559 --> 00:09:02,760 Speaker 4: in New York and it's not a unilateral post. Now. 153 00:09:02,800 --> 00:09:06,200 Speaker 4: That was more difficult with the real estate community because 154 00:09:06,320 --> 00:09:10,200 Speaker 4: their concerns having to do with land use proceedings and 155 00:09:10,280 --> 00:09:15,480 Speaker 4: approvals and construction permits, etc. That the mayor does control 156 00:09:16,240 --> 00:09:19,440 Speaker 4: basically huge amount of control over that process. That is 157 00:09:19,920 --> 00:09:23,280 Speaker 4: one thing that's local and real estate taxes where the 158 00:09:23,320 --> 00:09:27,280 Speaker 4: mayor has significant influence. So it was more difficult with 159 00:09:27,400 --> 00:09:31,480 Speaker 4: members of the real estate community, who after the primary 160 00:09:31,559 --> 00:09:35,240 Speaker 4: quickly pivoted to remembering what a good friend Mayor Adams was. 161 00:09:36,600 --> 00:09:38,840 Speaker 3: So I want to talk more about the concerns of 162 00:09:38,880 --> 00:09:42,880 Speaker 3: the business community, obviously, but before we do, I can't 163 00:09:42,880 --> 00:09:46,800 Speaker 3: resist asking, when you first met zoron over coffee, what 164 00:09:46,920 --> 00:09:49,400 Speaker 3: advice did you give him? What did you actually say 165 00:09:49,400 --> 00:09:50,920 Speaker 3: to him about a mayor run. 166 00:09:51,400 --> 00:09:55,240 Speaker 4: Number One, I said that you can't lead New York 167 00:09:55,280 --> 00:09:59,040 Speaker 4: City unless you have a constructive relationship with the Jewish community, 168 00:09:59,760 --> 00:10:04,480 Speaker 4: because that was the most obvious source of concern that 169 00:10:05,280 --> 00:10:10,000 Speaker 4: he seemed not able to address. That worried me a lot. 170 00:10:10,920 --> 00:10:19,400 Speaker 4: Number Two, that the solution to affordability is not for government, 171 00:10:19,840 --> 00:10:23,840 Speaker 4: local government to spend more money. That the money that 172 00:10:23,960 --> 00:10:29,120 Speaker 4: local government spends has to be accounted for that you 173 00:10:29,240 --> 00:10:33,600 Speaker 4: need to raise taxes to support it, and ultimately that 174 00:10:33,800 --> 00:10:36,400 Speaker 4: just ups the cost of living and the cost of 175 00:10:36,440 --> 00:10:38,920 Speaker 4: doing business in New York and that all ends up 176 00:10:38,960 --> 00:10:43,400 Speaker 4: getting passed along to consumers. So the affordability question, which 177 00:10:43,400 --> 00:10:47,040 Speaker 4: he was absolutely right to emphasize and emphasize from the beginning, 178 00:10:47,080 --> 00:10:50,880 Speaker 4: that we've got to make New York more affordable to 179 00:10:51,520 --> 00:10:55,200 Speaker 4: not just poor people, to the middle class, to those 180 00:10:55,360 --> 00:10:57,960 Speaker 4: people who rent an apartment and now the average rents 181 00:10:57,960 --> 00:11:00,840 Speaker 4: almost four thousand dollars a month. This is the big 182 00:11:00,880 --> 00:11:03,079 Speaker 4: concern of employers, and I said, this is their number 183 00:11:03,120 --> 00:11:05,920 Speaker 4: one concern. How do we keep and retain young talent 184 00:11:06,480 --> 00:11:08,760 Speaker 4: if they can't afford to rent an apartment in New 185 00:11:08,840 --> 00:11:12,280 Speaker 4: York City? Big frustration. So that was kind of the 186 00:11:12,360 --> 00:11:17,200 Speaker 4: conversation that we had, and he was open to that 187 00:11:17,640 --> 00:11:21,040 Speaker 4: conversation and interested in learning. I mean, he impressed me 188 00:11:21,120 --> 00:11:25,520 Speaker 4: right away as somebody who is interested in learning more, 189 00:11:26,160 --> 00:11:31,000 Speaker 4: but who has has very strong opinions and is very committed. 190 00:11:31,240 --> 00:11:34,520 Speaker 4: And I mean he's thirty three years old. In the 191 00:11:34,520 --> 00:11:35,520 Speaker 4: world is his oyster. 192 00:11:35,960 --> 00:11:39,640 Speaker 2: Yeah, you mentioned the importance of relations with the Jewish community, 193 00:11:39,679 --> 00:11:41,560 Speaker 2: and I saw I watched that. I didn't watch the 194 00:11:41,600 --> 00:11:44,520 Speaker 2: whole debate, but I did watch the last debate and 195 00:11:44,559 --> 00:11:46,920 Speaker 2: there was that question about which country you're going to 196 00:11:47,000 --> 00:11:50,040 Speaker 2: visit first, and every candidate blood store On said they 197 00:11:50,040 --> 00:11:52,320 Speaker 2: were going to visit Israel. He said he wasn't thinking 198 00:11:52,320 --> 00:11:56,000 Speaker 2: about is going to visit. Can you explain from the 199 00:11:56,040 --> 00:12:00,319 Speaker 2: perspective of the business leaders new York City, why do 200 00:12:00,440 --> 00:12:04,760 Speaker 2: they perceive that good relations with Israel is such an 201 00:12:04,800 --> 00:12:08,079 Speaker 2: important aspect of the job of Why does the. 202 00:12:08,040 --> 00:12:10,240 Speaker 3: Mayor of New York have to have a foreign policy? 203 00:12:10,800 --> 00:12:15,040 Speaker 4: Well, their fears that he has a foreign policy. I 204 00:12:15,080 --> 00:12:17,720 Speaker 4: don't think anybody thinks the Mayor of New York has 205 00:12:17,760 --> 00:12:21,480 Speaker 4: to have a foreign policy. But he has a record 206 00:12:21,679 --> 00:12:26,080 Speaker 4: of speaking out on issues that impact the Jewish community 207 00:12:26,120 --> 00:12:29,520 Speaker 4: about Israel that they're very concerned about, and so their 208 00:12:29,559 --> 00:12:35,360 Speaker 4: concern is not having. New York City has a long 209 00:12:35,640 --> 00:12:42,600 Speaker 4: history of values that are very strong on supporting a 210 00:12:42,760 --> 00:12:47,760 Speaker 4: diversity of people, are very tolerant of various religious beliefs, 211 00:12:48,280 --> 00:12:52,160 Speaker 4: and a long history with Israel. I mean, when Cornell 212 00:12:52,240 --> 00:12:57,600 Speaker 4: Technion partnered on Technion's the university in Israel, that really 213 00:12:57,679 --> 00:13:00,760 Speaker 4: led the Startup Nation movement in his and did so 214 00:13:00,840 --> 00:13:04,200 Speaker 4: much to propel their economy. And they were selected under 215 00:13:04,240 --> 00:13:11,199 Speaker 4: the Bloomberg administration to establish a first class engineering school 216 00:13:11,360 --> 00:13:15,240 Speaker 4: in New York on Roosevelt Island, which has been very 217 00:13:15,280 --> 00:13:19,840 Speaker 4: successful and is producing a great number of PhDs. And 218 00:13:19,920 --> 00:13:23,560 Speaker 4: so at the time that they came in, Technioy came in, 219 00:13:23,600 --> 00:13:26,480 Speaker 4: they told me how they had been funded. Originally it 220 00:13:26,520 --> 00:13:30,840 Speaker 4: was New York Jewish philanthropists that funded that effort. So 221 00:13:30,880 --> 00:13:35,640 Speaker 4: there's this long term relationship. And obviously we have many 222 00:13:35,840 --> 00:13:40,840 Speaker 4: people in New York who are family of Holocaust victims 223 00:13:40,960 --> 00:13:45,040 Speaker 4: and survivors, and for whom the fact of a Jewish 224 00:13:45,120 --> 00:13:49,800 Speaker 4: homeland a safe space for Jews around the world is 225 00:13:50,160 --> 00:13:56,040 Speaker 4: of top area of importance. I think that that they 226 00:13:56,679 --> 00:13:59,959 Speaker 4: are very concerned that the mayor of New York City 227 00:14:00,600 --> 00:14:04,920 Speaker 4: respect and understand the importance of Israel and our long 228 00:14:05,000 --> 00:14:09,520 Speaker 4: term relationship, and that worries them a lot. And that's 229 00:14:09,600 --> 00:14:12,840 Speaker 4: an issue that I think he has yet to resolve. 230 00:14:12,840 --> 00:14:17,760 Speaker 4: I think it's difficult because he has strong support in 231 00:14:17,800 --> 00:14:22,120 Speaker 4: the young Jewish community, and so I'm sure he feels 232 00:14:22,280 --> 00:14:24,560 Speaker 4: that he's got a lot of people who are with 233 00:14:24,680 --> 00:14:27,000 Speaker 4: him on the issues of protecting the rights of the 234 00:14:27,040 --> 00:14:31,680 Speaker 4: Palestinians and concerns about that. So it's this is an 235 00:14:31,760 --> 00:14:36,600 Speaker 4: area again where the fact that he ran a campaign 236 00:14:38,200 --> 00:14:43,160 Speaker 4: and had built relationships that are a piece of New 237 00:14:43,240 --> 00:14:47,000 Speaker 4: York City. He expanded the electorate to folks who have 238 00:14:47,120 --> 00:14:52,720 Speaker 4: not participated, but he really did not develop much of 239 00:14:52,760 --> 00:14:57,520 Speaker 4: a relationship with the historic electorate. He was running against 240 00:14:57,560 --> 00:15:02,560 Speaker 4: the democratic establishment, not with it, and so the communities 241 00:15:02,800 --> 00:15:06,560 Speaker 4: where much of the Jewish population is concentrated were not 242 00:15:06,720 --> 00:15:10,520 Speaker 4: communities he was necessarily reaching out to, except for the 243 00:15:10,520 --> 00:15:14,080 Speaker 4: young people and the social media crowd, and that's not 244 00:15:14,280 --> 00:15:16,760 Speaker 4: the people who are most concerned. 245 00:15:32,560 --> 00:15:34,800 Speaker 3: So on the topic of the campaign, I mean, this 246 00:15:34,960 --> 00:15:37,720 Speaker 3: was one of the really surprising things of him winning. 247 00:15:37,800 --> 00:15:40,800 Speaker 3: He had this sort of grassroots campaign which was very 248 00:15:40,840 --> 00:15:44,680 Speaker 3: much focused on social media, lots of merchandise with really 249 00:15:45,080 --> 00:15:48,280 Speaker 3: interesting designs. I've seen the hot girls for zor and 250 00:15:48,360 --> 00:15:52,000 Speaker 3: T shirts. People wearing those around town, usually young women, 251 00:15:52,160 --> 00:15:55,120 Speaker 3: as you mentioned. And I'm curious, are any of the 252 00:15:55,120 --> 00:16:00,400 Speaker 3: people you're speaking to perhaps thinking differently about campaign donators 253 00:16:00,480 --> 00:16:04,600 Speaker 3: going forward if they donated billions of dollars for Cuomo 254 00:16:05,200 --> 00:16:06,520 Speaker 3: and zorin. 255 00:16:06,880 --> 00:16:12,760 Speaker 4: Well, not billions but millions. Okay, yes, yes, I would 256 00:16:12,800 --> 00:16:17,320 Speaker 4: say that for the most part, what I'm hearing is 257 00:16:17,360 --> 00:16:25,840 Speaker 4: that people feel that they contributed to Cuomo and that 258 00:16:25,920 --> 00:16:28,240 Speaker 4: they don't feel they got a very good campaign out 259 00:16:28,240 --> 00:16:33,160 Speaker 4: of it. They want to meet Zoron and I think 260 00:16:33,200 --> 00:16:37,240 Speaker 4: they're making There are many, particularly in the real estate community, 261 00:16:37,560 --> 00:16:42,400 Speaker 4: that are stepping up to transfer whatever donations they were 262 00:16:42,440 --> 00:16:47,320 Speaker 4: making Cuomo to Eric Adams, if you will, the somebody 263 00:16:47,320 --> 00:16:50,400 Speaker 4: that they know they can do business with, then who 264 00:16:50,400 --> 00:16:55,600 Speaker 4: has been supportive of tremendously positive growth in the city 265 00:16:55,720 --> 00:16:59,920 Speaker 4: from the nature of the pandemic and where our economy was, 266 00:17:00,200 --> 00:17:04,159 Speaker 4: where our real estate situation. I'm Eric Adams. It should 267 00:17:04,200 --> 00:17:08,480 Speaker 4: not be ignored that he has his administration has led 268 00:17:08,600 --> 00:17:12,159 Speaker 4: rezoning efforts and really changed the zoning code for the 269 00:17:12,200 --> 00:17:15,119 Speaker 4: first time since nineteen sixty one. So he's made a 270 00:17:15,160 --> 00:17:20,639 Speaker 4: tremendous investment in trying to begin the process of making 271 00:17:20,680 --> 00:17:24,159 Speaker 4: it easier and less expensive to develop housing in the 272 00:17:24,200 --> 00:17:29,520 Speaker 4: city and supported economic growth overall. So there was concern. 273 00:17:29,640 --> 00:17:32,280 Speaker 4: I mean, obviously he's the first mayor that's been indicted, 274 00:17:32,840 --> 00:17:35,720 Speaker 4: and when he dropped out of the Democratic primary, I 275 00:17:35,720 --> 00:17:38,280 Speaker 4: think that solidified most of the money going to Cuomo, 276 00:17:38,960 --> 00:17:43,440 Speaker 4: but Eric is back in the general and in good form. 277 00:17:44,000 --> 00:17:46,480 Speaker 2: I noticed you said something. I think your first answer 278 00:17:46,680 --> 00:17:52,520 Speaker 2: that the business elite had accepted Cuomo as who was 279 00:17:52,600 --> 00:17:56,720 Speaker 2: going to be the nominee. Accepted, it does not sound 280 00:17:56,880 --> 00:18:00,840 Speaker 2: the same as enthusiastically support. I hear that is sort 281 00:18:00,880 --> 00:18:01,440 Speaker 2: of resigned. 282 00:18:01,520 --> 00:18:03,119 Speaker 3: Yeah, okay, status Cuomo. 283 00:18:03,400 --> 00:18:05,280 Speaker 2: Yeah, and so I'm curiously. 284 00:18:04,880 --> 00:18:06,280 Speaker 3: Come on, you have to laugh at that. 285 00:18:06,640 --> 00:18:09,800 Speaker 2: Good lie here, right, status quo. That's a good one. 286 00:18:09,880 --> 00:18:10,679 Speaker 3: Thank you, thank you. 287 00:18:10,800 --> 00:18:13,560 Speaker 2: That was good. But how did they feel actually about Cuomo? 288 00:18:13,760 --> 00:18:16,800 Speaker 2: And also, like I know there's some question it's still 289 00:18:16,880 --> 00:18:21,120 Speaker 2: unclear whether he's gonna run actively in November, but if 290 00:18:21,160 --> 00:18:25,720 Speaker 2: they do coalesce around someone, does it definitely seem like 291 00:18:25,720 --> 00:18:27,600 Speaker 2: it's going to be Adams so. 292 00:18:27,680 --> 00:18:29,639 Speaker 4: Far, I think yes, I think it's going to be 293 00:18:29,680 --> 00:18:35,840 Speaker 4: Adams if and again, it is the real estate community 294 00:18:35,880 --> 00:18:39,959 Speaker 4: that's most concerned. You understand that the financial industry in 295 00:18:39,960 --> 00:18:44,679 Speaker 4: New York basically is prohibited by federal regulation sec IF 296 00:18:44,720 --> 00:18:48,639 Speaker 4: in run other regulation from contributing to state and local 297 00:18:48,680 --> 00:18:52,560 Speaker 4: candidates beyond a nominal amount of a few hundred dollars. 298 00:18:53,160 --> 00:18:56,879 Speaker 4: So they are not, for the most part, money players 299 00:18:57,400 --> 00:19:01,920 Speaker 4: in state and local elections, which has really disadvantaged New 300 00:19:01,960 --> 00:19:05,240 Speaker 4: York's business community, which represents like forty percent of our 301 00:19:05,280 --> 00:19:10,000 Speaker 4: tax base, who can't participate in supporting candidates of their choice. 302 00:19:10,080 --> 00:19:13,080 Speaker 2: They could knock on doors like the Zorone volunteers did, 303 00:19:13,119 --> 00:19:15,520 Speaker 2: they just can't donate gobs of money. 304 00:19:15,280 --> 00:19:20,920 Speaker 4: And that would be great, but not happening. Okay, most 305 00:19:20,960 --> 00:19:23,840 Speaker 4: of them are beyond the door knocking age. But your 306 00:19:23,920 --> 00:19:28,560 Speaker 4: question about Cuomo. Cuomo was Attorney General during the financial 307 00:19:28,600 --> 00:19:33,960 Speaker 4: crisis and was not very friendly toward the financial industry 308 00:19:34,119 --> 00:19:37,480 Speaker 4: and did not develop relationships that were very positive during 309 00:19:37,480 --> 00:19:41,280 Speaker 4: his tenure as Attorney General with the business community. So 310 00:19:41,840 --> 00:19:44,960 Speaker 4: that was his job to be an enforcer. And during 311 00:19:45,119 --> 00:19:48,800 Speaker 4: his term as governor he came in with a very 312 00:19:48,840 --> 00:19:52,320 Speaker 4: strong agenda to try and get state spending under control 313 00:19:52,359 --> 00:19:56,200 Speaker 4: and get taxes under control. But having made some of 314 00:19:56,320 --> 00:19:59,480 Speaker 4: some real progress there on medicaid reform and pension reform, 315 00:20:00,200 --> 00:20:04,920 Speaker 4: as the political wins changed, there wasn't that same relationship 316 00:20:05,000 --> 00:20:08,920 Speaker 4: with the business community. So with the exception of real estate, 317 00:20:09,000 --> 00:20:12,879 Speaker 4: where he was very pro growth, investing in infrastructure, supporting 318 00:20:12,920 --> 00:20:16,400 Speaker 4: real estate development. So I would say that he had 319 00:20:16,800 --> 00:20:22,120 Speaker 4: relative enthusiasm in the real estate community, but not broadly 320 00:20:22,160 --> 00:20:23,560 Speaker 4: based in the business community. 321 00:20:23,920 --> 00:20:26,720 Speaker 3: So on this note, you've emphasized a number of times 322 00:20:26,720 --> 00:20:28,920 Speaker 3: that a lot of business leaders obviously want to talk 323 00:20:28,960 --> 00:20:30,760 Speaker 3: to Zorin. They want to get in the room with him, 324 00:20:31,040 --> 00:20:34,959 Speaker 3: and you are organizing, I believe, discussions between the business 325 00:20:34,960 --> 00:20:38,840 Speaker 3: community and the mayoral candidate. I think next week we're 326 00:20:38,880 --> 00:20:42,639 Speaker 3: recording this on let's see July ninth. How do you 327 00:20:42,720 --> 00:20:45,560 Speaker 3: decide who gets to be in the room with Zorin? 328 00:20:46,040 --> 00:20:49,040 Speaker 4: Well, the first meeting we're doing and I set this 329 00:20:49,200 --> 00:20:52,480 Speaker 4: up with Zorn He called me right after the election 330 00:20:52,680 --> 00:20:57,600 Speaker 4: and said he wanted to establish those relationships, and I said, well, 331 00:20:57,640 --> 00:21:01,440 Speaker 4: it's so we set up a meeting with the CEOs 332 00:21:01,480 --> 00:21:05,000 Speaker 4: of the partnership that's on Tuesday, and so they'll be 333 00:21:05,880 --> 00:21:08,119 Speaker 4: some will join virtually, but it's going to be mostly 334 00:21:08,160 --> 00:21:12,439 Speaker 4: an in person one hundred and fifty maybe CEOs of 335 00:21:12,560 --> 00:21:16,560 Speaker 4: major companies, major employers in the city who have never 336 00:21:16,600 --> 00:21:19,760 Speaker 4: met him and will be for the first time getting 337 00:21:19,760 --> 00:21:22,439 Speaker 4: an opportunity. And that's going to be a conversation with 338 00:21:22,880 --> 00:21:26,800 Speaker 4: our co chairs, Rob Speyer of Tishman Speyer and doctor 339 00:21:26,840 --> 00:21:30,760 Speaker 4: Albert Borla of Pfizer and so they'll be having a 340 00:21:30,880 --> 00:21:34,600 Speaker 4: conversation with Solorn and then we'll have some Q and 341 00:21:34,640 --> 00:21:37,400 Speaker 4: A with our members, and so that's that's number one. 342 00:21:37,400 --> 00:21:40,080 Speaker 2: And then I'll come back next week, right, and I 343 00:21:40,119 --> 00:21:42,119 Speaker 2: will follow up to this episode. 344 00:21:42,680 --> 00:21:46,879 Speaker 4: Interesting. Yes, I'm looking forward. I'm looking forward to that conversation, 345 00:21:47,080 --> 00:21:50,040 Speaker 4: but I think again it's an introduction and I have 346 00:21:50,119 --> 00:21:54,160 Speaker 4: full confidence as you know having met him, Zorn is 347 00:21:54,480 --> 00:21:59,000 Speaker 4: pretty good at presenting himself and very fast in terms 348 00:21:59,000 --> 00:22:02,680 Speaker 4: of his thoughtful responses on issues. So I'm looking forward 349 00:22:02,720 --> 00:22:04,880 Speaker 4: to that because it'll save me a lot of time 350 00:22:04,920 --> 00:22:08,480 Speaker 4: reassuring him that he's not the devil. He's okay. And 351 00:22:08,520 --> 00:22:12,440 Speaker 4: then on Wednesday, Kevin Ryan, who is kind of the 352 00:22:12,480 --> 00:22:16,600 Speaker 4: father of Silicon Ali Ali Corp. Is the name of 353 00:22:16,640 --> 00:22:21,720 Speaker 4: his corporation, has a prolific history of creating tech companies 354 00:22:21,720 --> 00:22:26,120 Speaker 4: in New York. Kevin is going to moderate a conversation 355 00:22:26,280 --> 00:22:30,160 Speaker 4: with him which will be heavily tech focused, more entrepreneurs 356 00:22:30,200 --> 00:22:34,760 Speaker 4: than corporate finance types. So that'll be on Wednesday, and 357 00:22:34,800 --> 00:22:38,400 Speaker 4: then I should add that on Thursday, we'll be doing 358 00:22:38,400 --> 00:22:43,280 Speaker 4: breakfast with Mayor Eric Adams and speaking to him about 359 00:22:43,320 --> 00:22:47,919 Speaker 4: his path forward. And as I said, there's been a 360 00:22:47,920 --> 00:22:51,720 Speaker 4: lot of support for the policies that Eric Adams has 361 00:22:52,280 --> 00:22:55,879 Speaker 4: he started out as mayor. I had the same conversation 362 00:22:56,000 --> 00:22:59,280 Speaker 4: with Eric. I'm a Brooklyn person, so I've known Eric 363 00:22:59,320 --> 00:23:02,359 Speaker 4: for many years and most recently in his capacity as 364 00:23:02,359 --> 00:23:05,439 Speaker 4: Brooklyn Boro President. But when we started out, he didn't 365 00:23:05,440 --> 00:23:08,720 Speaker 4: know anybody in the New York business community either. But 366 00:23:08,920 --> 00:23:12,040 Speaker 4: he introduced himself as saying, my number one priority is 367 00:23:12,080 --> 00:23:16,720 Speaker 4: public safety, and my number two priority is a thriving economy. 368 00:23:16,760 --> 00:23:19,359 Speaker 4: And I'm with you, and having lived through eight years 369 00:23:19,359 --> 00:23:23,320 Speaker 4: of Bill Deblasio as mayor, who had nothing to do 370 00:23:23,720 --> 00:23:26,479 Speaker 4: or to say to them except your awful people. And 371 00:23:26,520 --> 00:23:29,880 Speaker 4: as Jamie Diamond famously said, for eight years, I never 372 00:23:29,920 --> 00:23:33,560 Speaker 4: got a call from Bill Deblasio when he was mayor 373 00:23:34,160 --> 00:23:37,600 Speaker 4: and have never had a conversation with him. So Eric 374 00:23:37,720 --> 00:23:42,000 Speaker 4: immediately reversed the Deblasio big business is bad for New York, 375 00:23:42,040 --> 00:23:44,480 Speaker 4: and Eric said, I want wealthy people in New York. 376 00:23:44,520 --> 00:23:47,680 Speaker 4: I want big business in New York. So I don't 377 00:23:47,680 --> 00:23:54,120 Speaker 4: expect that from Zoran next week. I think that he's 378 00:23:54,160 --> 00:23:57,760 Speaker 4: not going to have the same unbridled enthusiasm for billionaires, 379 00:23:58,119 --> 00:24:01,440 Speaker 4: but I do expect that he will come across as 380 00:24:01,480 --> 00:24:06,119 Speaker 4: a responsible person who's thinking seriously and is open to learning, 381 00:24:06,200 --> 00:24:10,000 Speaker 4: which is most important to listening and learning. And I 382 00:24:10,040 --> 00:24:13,879 Speaker 4: think that that the number one concern is, is this 383 00:24:13,960 --> 00:24:19,800 Speaker 4: a dogmatic, ideological person who is just going is going 384 00:24:19,880 --> 00:24:24,280 Speaker 4: to be not interested in what we can contribute to 385 00:24:24,359 --> 00:24:26,320 Speaker 4: the city or what employers contribute. 386 00:24:26,720 --> 00:24:29,480 Speaker 2: You mentioned Kevin Ryan. I used to work for Business Insider, 387 00:24:29,520 --> 00:24:31,560 Speaker 2: which was one of the Ali Corp companies, so I'm 388 00:24:31,600 --> 00:24:35,760 Speaker 2: a beneficiary of his New York City investments. You know, 389 00:24:35,800 --> 00:24:38,240 Speaker 2: when the night of the primary, I got some random 390 00:24:38,280 --> 00:24:39,959 Speaker 2: messages online. They're like, oh, are you going to leave 391 00:24:40,000 --> 00:24:42,000 Speaker 2: New York City. I'm never gonna leave New York City, 392 00:24:42,160 --> 00:24:44,439 Speaker 2: Like it's the best city in the world, obviously, but 393 00:24:44,720 --> 00:24:47,680 Speaker 2: you know, people do leave, And in twenty twenty one 394 00:24:47,760 --> 00:24:51,400 Speaker 2: and twenty twenty two, people pretended to think that Miami 395 00:24:51,760 --> 00:24:54,160 Speaker 2: was a better option for them. I think a bunch 396 00:24:54,200 --> 00:24:57,000 Speaker 2: of them came back or they spent just the you know, 397 00:24:57,119 --> 00:25:00,879 Speaker 2: minimum amount of time there so they could you know, 398 00:25:01,080 --> 00:25:04,880 Speaker 2: qualify for their local taxes, et cetera. In your view 399 00:25:04,960 --> 00:25:07,080 Speaker 2: or in the view of the employers of New York City, 400 00:25:07,400 --> 00:25:10,480 Speaker 2: what are the threats the substance of threats that would say, Okay, 401 00:25:10,520 --> 00:25:15,000 Speaker 2: this would meaningfully change the desirability of doing business in 402 00:25:15,040 --> 00:25:15,440 Speaker 2: this town. 403 00:25:15,760 --> 00:25:20,159 Speaker 4: Number One is public safety, and that's again they've appreciated, 404 00:25:20,720 --> 00:25:25,120 Speaker 4: particularly under Commissioner Tish and original and Er Commissionery Key 405 00:25:25,200 --> 00:25:28,640 Speaker 4: chance Sewell, they have appreciated that the Atoms administration has 406 00:25:28,680 --> 00:25:30,480 Speaker 4: focused on public safety and that we're. 407 00:25:30,480 --> 00:25:32,400 Speaker 2: That's more important things like taxes for them. 408 00:25:32,680 --> 00:25:36,720 Speaker 4: Yes, absolutely, because the whole basis of business being here 409 00:25:37,359 --> 00:25:40,000 Speaker 4: is the talent pool. And if talent doesn't want to 410 00:25:40,000 --> 00:25:41,919 Speaker 4: be here, if they're scared to leave it be in 411 00:25:41,960 --> 00:25:44,359 Speaker 4: New York City. If they're worried to go on the 412 00:25:44,400 --> 00:25:47,800 Speaker 4: subway because they might get mugged or pushed in front 413 00:25:47,800 --> 00:25:50,480 Speaker 4: of a train, that's the worst thing that could happen 414 00:25:50,520 --> 00:25:55,040 Speaker 4: to New York. So and importantly, Zoran has acknowledged that 415 00:25:55,440 --> 00:25:58,320 Speaker 4: keeping New York a destination for talent is a priority 416 00:25:58,320 --> 00:26:01,400 Speaker 4: for him. So I think that message is very important. 417 00:26:02,160 --> 00:26:05,000 Speaker 4: So the public safety number one. And then, as I 418 00:26:05,040 --> 00:26:11,679 Speaker 4: said before, affordable housing and affordability that again allows talent 419 00:26:11,960 --> 00:26:16,399 Speaker 4: to be here and doesn't have a premium cost. I 420 00:26:16,440 --> 00:26:21,399 Speaker 4: mean already in most sectors New York City salaries have 421 00:26:21,480 --> 00:26:24,320 Speaker 4: a twenty percent premium at least over if you're going 422 00:26:24,359 --> 00:26:27,639 Speaker 4: to locate in Texas or Florida or whatever. When it 423 00:26:27,640 --> 00:26:30,440 Speaker 4: gets higher than that, it becomes hard to explain to 424 00:26:30,480 --> 00:26:33,359 Speaker 4: shareholders why you're here and why you're creating jobs here. 425 00:26:33,720 --> 00:26:38,199 Speaker 4: So that's the other consideration. So it's really having a 426 00:26:38,240 --> 00:26:43,400 Speaker 4: safe city and having an affordable city are the top criteria, 427 00:26:43,520 --> 00:26:45,760 Speaker 4: And at least in terms of having an affordable city, 428 00:26:45,800 --> 00:26:49,000 Speaker 4: they've got common cause with Zorin's campaign. 429 00:26:49,600 --> 00:26:51,280 Speaker 3: This is what I was going to ask you. Are 430 00:26:51,320 --> 00:26:54,919 Speaker 3: there any areas of I guess overlap or agreement between 431 00:26:55,040 --> 00:26:58,280 Speaker 3: Zorn's agenda and the concerns or the desires of the 432 00:26:58,280 --> 00:26:59,200 Speaker 3: business community. 433 00:26:59,440 --> 00:27:03,040 Speaker 4: Yeah, as I mentioned, one of the big questions that'll 434 00:27:03,040 --> 00:27:05,280 Speaker 4: come up next week. Probably the first question that will 435 00:27:05,320 --> 00:27:08,240 Speaker 4: come up is what is your commitment to public safety? 436 00:27:08,800 --> 00:27:12,280 Speaker 4: You know, symbolically, would you keep Jesse Tish's police commissioner, 437 00:27:12,760 --> 00:27:14,879 Speaker 4: And she certainly won't stay if he's going to defund 438 00:27:14,880 --> 00:27:18,680 Speaker 4: the police because she's looking for more officers, more resources 439 00:27:18,760 --> 00:27:21,320 Speaker 4: to really make sure that we stay the safest city 440 00:27:21,440 --> 00:27:25,880 Speaker 4: in America and the world. Hopefully, So that'll be public safety, 441 00:27:25,920 --> 00:27:30,800 Speaker 4: and then on affordability, it'll be hoping that they can 442 00:27:30,800 --> 00:27:36,320 Speaker 4: communicate that just having city government increase its budget does 443 00:27:36,359 --> 00:27:39,840 Speaker 4: not improve affordability. We've got to be more creative than that. 444 00:27:55,280 --> 00:27:58,440 Speaker 2: What do you see as the main constraints to affordability? 445 00:27:58,480 --> 00:28:01,440 Speaker 2: What do you from just from your first petive? How 446 00:28:01,440 --> 00:28:03,919 Speaker 2: many years did they were they debating about putting up 447 00:28:03,920 --> 00:28:06,359 Speaker 2: some houses at the Elizabeth Street garden like these The 448 00:28:06,520 --> 00:28:09,600 Speaker 2: process take forevers But like I know, it's like the 449 00:28:09,600 --> 00:28:11,879 Speaker 2: most hot button topic in the world. But just broadly, 450 00:28:12,560 --> 00:28:15,800 Speaker 2: what do you perceive is the main constraints towards making 451 00:28:16,160 --> 00:28:16,800 Speaker 2: rent cheaper? 452 00:28:16,800 --> 00:28:19,240 Speaker 4: In New York City, thirty percent of rent is real 453 00:28:19,320 --> 00:28:23,560 Speaker 4: estate taxes in rent regulated buildings, So government spending that 454 00:28:23,640 --> 00:28:26,080 Speaker 4: depends on real estate taxes, that's where the majority of 455 00:28:26,080 --> 00:28:30,720 Speaker 4: the city revenues come from, is driving high rents. Uh, 456 00:28:30,800 --> 00:28:34,520 Speaker 4: It's not that developers and these older rent regulated buildings 457 00:28:34,520 --> 00:28:38,280 Speaker 4: are making a huge profit. It's that their costs have 458 00:28:38,360 --> 00:28:40,680 Speaker 4: gone up, their water bills, et cetera. All these are 459 00:28:40,680 --> 00:28:43,120 Speaker 4: on water and sewer. These are under control of the city. 460 00:28:43,840 --> 00:28:48,040 Speaker 4: So there are things government can do very quickly to 461 00:28:48,200 --> 00:28:50,120 Speaker 4: reduce costs. 462 00:28:50,720 --> 00:28:54,320 Speaker 2: As an example, what about just sheer volume of housing production. 463 00:28:54,600 --> 00:28:57,480 Speaker 2: Because right in the end, like most people. Okay, rent 464 00:28:57,560 --> 00:29:00,840 Speaker 2: is very expensive. It's also scarce, and that contributes to 465 00:29:01,040 --> 00:29:03,640 Speaker 2: the fact that rent prices go up and that landlords 466 00:29:03,680 --> 00:29:06,640 Speaker 2: can collect a lot of rent. Do you think there 467 00:29:06,640 --> 00:29:10,520 Speaker 2: are meaningful levers that could be pulled to rapidly increase 468 00:29:10,560 --> 00:29:13,680 Speaker 2: the pace and which we build, whether it's affordable housing 469 00:29:13,760 --> 00:29:16,000 Speaker 2: or market rate housing, etc. What would you identify? 470 00:29:16,040 --> 00:29:20,080 Speaker 4: Absolutely Again, it's reducing government bureaucracy. Right now, I'm on 471 00:29:20,120 --> 00:29:23,120 Speaker 4: the City Charter Revision Commission, which is going to put 472 00:29:23,200 --> 00:29:27,880 Speaker 4: resolutions before the public I believe in November, to look 473 00:29:27,920 --> 00:29:31,520 Speaker 4: at how we can cut down on the time and 474 00:29:31,640 --> 00:29:36,240 Speaker 4: cost associated with development approvals, especially for smaller projects. The 475 00:29:36,320 --> 00:29:38,880 Speaker 4: other thing I want to mention that affects the cost 476 00:29:38,920 --> 00:29:43,600 Speaker 4: of construction very much, but also affects all other costs 477 00:29:43,800 --> 00:29:48,120 Speaker 4: is the cost of litigation passed along to consumers through 478 00:29:48,120 --> 00:29:51,720 Speaker 4: the high insurance costs. We have the highest claims and settlements. 479 00:29:51,760 --> 00:29:55,040 Speaker 4: We have the highest degree of litigation in the country. 480 00:29:55,360 --> 00:29:58,800 Speaker 4: It's almost impossible to get anything through the legislature that 481 00:29:58,880 --> 00:30:01,800 Speaker 4: doesn't include a private right of action. The trial lawyers 482 00:30:01,800 --> 00:30:05,520 Speaker 4: are the strongest lobby in Albany also have a lot 483 00:30:05,520 --> 00:30:08,800 Speaker 4: of influence within the city and we have to get 484 00:30:08,800 --> 00:30:12,320 Speaker 4: down our litigation costs. Our insurance costs are substantially higher 485 00:30:12,360 --> 00:30:15,120 Speaker 4: than anywhere else in the country. Our curR insurance costs 486 00:30:15,160 --> 00:30:18,160 Speaker 4: are forty nine percent higher than the average in the country. 487 00:30:18,440 --> 00:30:21,720 Speaker 4: Our health insurance costs are twelve percent higher. These are 488 00:30:21,760 --> 00:30:25,440 Speaker 4: all costs that we could absolutely contain in control, and 489 00:30:25,520 --> 00:30:29,200 Speaker 4: the city, which is basically self insured, ends up paying 490 00:30:29,240 --> 00:30:32,040 Speaker 4: this out of pockets with a pee billions of dollars 491 00:30:32,040 --> 00:30:33,880 Speaker 4: a year in medical mailpractice. 492 00:30:33,920 --> 00:30:36,720 Speaker 2: In other government, a lot of free buses. 493 00:30:37,440 --> 00:30:39,160 Speaker 4: That would fund a lot of free busses. 494 00:30:39,360 --> 00:30:41,880 Speaker 3: Aren't the higher litigation costs. Aren't they just a reflection 495 00:30:41,960 --> 00:30:44,920 Speaker 3: of I guess the higher cost of living and materials. 496 00:30:45,040 --> 00:30:49,000 Speaker 4: No, they're a reflection of a system where our jury 497 00:30:49,000 --> 00:30:51,880 Speaker 4: awards are much higher than any place else. They call 498 00:30:51,920 --> 00:30:56,080 Speaker 4: them nuclear awards. No, it's all because of laws. We 499 00:30:56,160 --> 00:30:58,760 Speaker 4: have one law in the books in Albany. It's part 500 00:30:58,760 --> 00:31:01,760 Speaker 4: of the labor law was passed one hundred years ago, 501 00:31:02,000 --> 00:31:05,000 Speaker 4: and it was passed before we had workers' compensation and 502 00:31:05,040 --> 00:31:08,720 Speaker 4: other protections for construction workers. If you have a gravity 503 00:31:08,800 --> 00:31:12,200 Speaker 4: related injury, and many of these are staged, that one 504 00:31:12,360 --> 00:31:15,280 Speaker 4: law can add five to seven percent to the cost 505 00:31:15,320 --> 00:31:18,760 Speaker 4: of construction, just that one law. And so when we 506 00:31:18,800 --> 00:31:21,960 Speaker 4: say why does it cost a million dollars to produce 507 00:31:22,000 --> 00:31:24,520 Speaker 4: a two bedroom and rental apartment in New York? To 508 00:31:24,560 --> 00:31:27,200 Speaker 4: build it? When you look at it, you'll see that 509 00:31:27,240 --> 00:31:29,960 Speaker 4: a big chunk of that is the result of the litigation, 510 00:31:30,080 --> 00:31:33,120 Speaker 4: insurance costs, and the time that it takes to get 511 00:31:33,120 --> 00:31:35,479 Speaker 4: anything done, the carrying costs for the time. 512 00:31:36,560 --> 00:31:39,120 Speaker 3: I want to ask a sort of social question, given 513 00:31:39,160 --> 00:31:43,240 Speaker 3: your role as therapists to the wealthy, But I got 514 00:31:43,240 --> 00:31:46,800 Speaker 3: a sense sometimes that there is a feeling out there 515 00:31:46,920 --> 00:31:50,720 Speaker 3: among maybe a lot of people that billionaires are less 516 00:31:50,840 --> 00:31:54,920 Speaker 3: charitable than they once were, certainly going back to earlier 517 00:31:54,960 --> 00:31:58,960 Speaker 3: in the century perhaps, and I think back to like Rockefeller, 518 00:31:59,080 --> 00:32:03,520 Speaker 3: who you know or knew and worked with, and him 519 00:32:03,680 --> 00:32:07,080 Speaker 3: bailing out the city in the nineteen seventies, Like that 520 00:32:07,320 --> 00:32:09,440 Speaker 3: was an act where he decided, I am going to 521 00:32:09,480 --> 00:32:12,720 Speaker 3: spend money in order to save New York and contribute 522 00:32:12,720 --> 00:32:13,680 Speaker 3: to New York's future. 523 00:32:14,560 --> 00:32:15,320 Speaker 2: Is that an. 524 00:32:15,200 --> 00:32:19,800 Speaker 3: Accurate portrayal of billionaires nowadays? Are they less engaged in 525 00:32:19,840 --> 00:32:20,800 Speaker 3: overall society? 526 00:32:21,560 --> 00:32:26,600 Speaker 4: Well, in many cases, the family wealth, like in the 527 00:32:26,680 --> 00:32:31,040 Speaker 4: Rockefeller family, has diversified, so you don't have one person 528 00:32:31,200 --> 00:32:35,120 Speaker 4: who is as wealthy. It's spread out. But the commitment 529 00:32:35,160 --> 00:32:38,600 Speaker 4: to New York, to its hospitals, it's museums, its universities, 530 00:32:38,640 --> 00:32:42,920 Speaker 4: its institutions. We have by far the most philanthropic city 531 00:32:43,000 --> 00:32:45,600 Speaker 4: in the world. I get visitors from all over the world, 532 00:32:45,680 --> 00:32:49,560 Speaker 4: from Paris, from London, from la from San Francisco, all 533 00:32:49,600 --> 00:32:53,600 Speaker 4: of whom say, how does New York create a culture 534 00:32:53,720 --> 00:32:58,280 Speaker 4: which is so giving, which is so generous? And the 535 00:32:58,400 --> 00:33:00,880 Speaker 4: Rockefellers and the Astors and any of the families that 536 00:33:01,400 --> 00:33:04,240 Speaker 4: you know, the key families of New York did contribute 537 00:33:04,240 --> 00:33:07,440 Speaker 4: to this. But then you saw the tributes to Leonard 538 00:33:07,480 --> 00:33:10,440 Speaker 4: Latter who died a few weeks ago. If they were 539 00:33:10,480 --> 00:33:15,160 Speaker 4: all differ from every nonprofit institution, the generosity of New 540 00:33:15,280 --> 00:33:22,680 Speaker 4: Yorkers is huge. The label billionaire is often attached to 541 00:33:24,080 --> 00:33:27,800 Speaker 4: self promoters who are promoting themselves as billionaires. Yeah, I 542 00:33:27,840 --> 00:33:31,080 Speaker 4: would distinguish that none of the people that I'm talking 543 00:33:31,120 --> 00:33:35,240 Speaker 4: about want to be known or proclaim themselves or position 544 00:33:35,400 --> 00:33:37,720 Speaker 4: themselves as billionaires. 545 00:33:38,520 --> 00:33:41,360 Speaker 2: Yeah, that definitely resonates. I want to go back to 546 00:33:41,440 --> 00:33:45,400 Speaker 2: something you know. You mentioned the generational divide among New 547 00:33:45,480 --> 00:33:47,680 Speaker 2: York City's Jewish community and the idea that the under 548 00:33:47,720 --> 00:33:50,240 Speaker 2: forty crowd may have a very different perception of the 549 00:33:50,280 --> 00:33:52,640 Speaker 2: relationship that New York City should have about the state 550 00:33:52,640 --> 00:33:55,120 Speaker 2: of Israel or state of Israel period. And you also 551 00:33:55,240 --> 00:33:58,239 Speaker 2: mentioned that you know, for many of the people that 552 00:33:58,280 --> 00:34:02,080 Speaker 2: you work with, it only on them that Socialists could 553 00:34:02,120 --> 00:34:06,400 Speaker 2: be the Democratic nominee at ten pm on election night, 554 00:34:06,720 --> 00:34:09,200 Speaker 2: which makes me wonder, like how plugged they are in 555 00:34:09,280 --> 00:34:12,520 Speaker 2: because certainly, in at least the month prior to the election, 556 00:34:12,600 --> 00:34:15,040 Speaker 2: it became very obvious to me that this was like 557 00:34:15,080 --> 00:34:18,719 Speaker 2: a very real possibility that he could win. Like, is 558 00:34:18,760 --> 00:34:22,480 Speaker 2: there a persistent problem of sort of like generational awareness? 559 00:34:22,480 --> 00:34:25,880 Speaker 2: And I'm thinking also about affordability and housing and some 560 00:34:25,920 --> 00:34:28,600 Speaker 2: of these other issues where I don't want to say 561 00:34:28,600 --> 00:34:30,959 Speaker 2: like out of touch, but I guess out of touch 562 00:34:31,040 --> 00:34:36,080 Speaker 2: between the business elites, the CEOs, et cetera, and what's 563 00:34:36,120 --> 00:34:39,319 Speaker 2: on the mind of younger voters period, across a range 564 00:34:39,320 --> 00:34:39,760 Speaker 2: of issues. 565 00:34:39,880 --> 00:34:44,200 Speaker 4: I think that's a very fair comment. Most of the 566 00:34:44,280 --> 00:34:48,759 Speaker 4: mature business world is not living on social media, so 567 00:34:48,840 --> 00:34:52,640 Speaker 4: they're well, they're not They're not plugged into that world, 568 00:34:52,760 --> 00:34:56,480 Speaker 4: and that's that's a great contributor to the generational divide. 569 00:34:56,520 --> 00:34:59,680 Speaker 4: I mean I still read a paper, a real paper, 570 00:35:00,680 --> 00:35:05,720 Speaker 4: and that's a differentiator. And the other thing is that 571 00:35:05,840 --> 00:35:09,080 Speaker 4: the globalization of the economy has meant I mean New 572 00:35:09,160 --> 00:35:15,640 Speaker 4: York is a center of world industry leadership and they 573 00:35:15,760 --> 00:35:20,280 Speaker 4: are focused and spending their life traveling all over the world. 574 00:35:20,840 --> 00:35:23,879 Speaker 4: So the fact that we're a headquarters city in all 575 00:35:23,960 --> 00:35:28,240 Speaker 4: these diverse sectors in passion and media, and it means 576 00:35:28,360 --> 00:35:35,040 Speaker 4: that the focus is global rather than local. Politically, especially 577 00:35:35,120 --> 00:35:38,440 Speaker 4: the focus is Washington, which is where most of the 578 00:35:38,480 --> 00:35:43,160 Speaker 4: regulatory activity is coming from, not local. City and state 579 00:35:43,239 --> 00:35:46,920 Speaker 4: are sidelines compared. So it's just the nature of our 580 00:35:47,080 --> 00:35:50,399 Speaker 4: changing economy over the last fifty years, which has gone 581 00:35:50,440 --> 00:35:55,200 Speaker 4: from being a local fifty years ago industrial economy to 582 00:35:55,320 --> 00:35:59,800 Speaker 4: being a service economy to today being a global digitally 583 00:36:01,000 --> 00:36:04,960 Speaker 4: and all of that means that the attention of business 584 00:36:05,080 --> 00:36:12,080 Speaker 4: leadership has been largely externally focused on the world business, 585 00:36:12,160 --> 00:36:17,960 Speaker 4: world markets, and on Washington. That just there's only so 586 00:36:18,040 --> 00:36:20,960 Speaker 4: many hours in a day. What we try and do 587 00:36:21,000 --> 00:36:26,640 Speaker 4: with the partnership is synthesized for those global leaders what's 588 00:36:26,640 --> 00:36:31,000 Speaker 4: happening locally and who's who and what's what. That's what 589 00:36:31,000 --> 00:36:33,160 Speaker 4: we're doing with regard to the mayor election now is 590 00:36:33,200 --> 00:36:38,080 Speaker 4: trying to bring them into the conversation at a point 591 00:36:38,480 --> 00:36:42,600 Speaker 4: where they're taking it seriously and they have to prioritize it. 592 00:36:42,640 --> 00:36:46,279 Speaker 4: But these are people who are running global businesses and 593 00:36:46,320 --> 00:36:50,560 Speaker 4: that's the whole that's what's changed. It's not anything else, 594 00:36:50,719 --> 00:36:55,120 Speaker 4: but the focus of attention has to be global. And well, 595 00:36:55,520 --> 00:36:58,239 Speaker 4: I would just mention, because we sit here in Bloomberg 596 00:36:58,280 --> 00:37:03,200 Speaker 4: Podcast world, that Mike Bloomberg changed that when he was mayor. 597 00:37:04,200 --> 00:37:08,440 Speaker 4: He brought the attention of our global leaders back to 598 00:37:08,520 --> 00:37:11,920 Speaker 4: New York, which was extremely useful. I started as CEO 599 00:37:12,040 --> 00:37:17,880 Speaker 4: of the partnership in two thousand, right before two thousand 600 00:37:17,880 --> 00:37:22,719 Speaker 4: and one, before Mike was elected, and I took advantage 601 00:37:22,920 --> 00:37:25,600 Speaker 4: of re engaging you. If you went to a cocktail 602 00:37:25,640 --> 00:37:28,520 Speaker 4: party in New York that Mike Bloomberg is going to 603 00:37:28,600 --> 00:37:31,960 Speaker 4: be at, you had to talk New York. And he 604 00:37:32,200 --> 00:37:34,839 Speaker 4: was a thought leader. He was the leading philanthropist when 605 00:37:34,840 --> 00:37:39,239 Speaker 4: people ask me who replaced David Rockefeller as the leading philanthropist, 606 00:37:39,280 --> 00:37:40,640 Speaker 4: and he was Mike Bloomberg. 607 00:37:41,640 --> 00:37:42,040 Speaker 2: Simple. 608 00:37:42,320 --> 00:37:44,800 Speaker 3: I have to do the disclaimer here, which is, of course, 609 00:37:44,920 --> 00:37:48,520 Speaker 3: Bloomberg News Bloomberg Media is part of Bloomberg LP, which 610 00:37:48,560 --> 00:37:50,040 Speaker 3: is owned by Mike Bloomberg. 611 00:37:50,120 --> 00:37:53,600 Speaker 2: So we didn't tell our guests to see jobdives as the. 612 00:37:55,480 --> 00:37:56,160 Speaker 3: No, we did not. 613 00:37:56,760 --> 00:37:59,000 Speaker 4: I just have this isn't the first time I've said it. 614 00:37:59,000 --> 00:38:02,560 Speaker 3: Okay, I just have one more question, which is, have 615 00:38:02,680 --> 00:38:06,080 Speaker 3: you noticed or seen at all I guess moments of 616 00:38:06,480 --> 00:38:10,600 Speaker 3: introspection among the business community, this idea that like, oh, 617 00:38:10,719 --> 00:38:13,879 Speaker 3: maybe we miss something about Zoren, Maybe we missed why 618 00:38:13,920 --> 00:38:17,000 Speaker 3: he's resonating so much in the city. Maybe we should 619 00:38:17,040 --> 00:38:20,040 Speaker 3: start doing something different, Maybe we need to, you know, 620 00:38:20,680 --> 00:38:24,799 Speaker 3: actually build more housing or lower rents or whatever. Or 621 00:38:25,400 --> 00:38:28,960 Speaker 3: are they still committed very much to this, not the 622 00:38:29,000 --> 00:38:32,719 Speaker 3: status quomo, but the Eric Adams status quo and they 623 00:38:32,760 --> 00:38:34,720 Speaker 3: want him to win again. 624 00:38:34,880 --> 00:38:40,600 Speaker 4: Distinguishing between the real estate community that sees the potential 625 00:38:40,600 --> 00:38:44,720 Speaker 4: of an existential threat to private development putting that aside. 626 00:38:44,719 --> 00:38:47,799 Speaker 4: In terms of the general business community. I think your 627 00:38:48,080 --> 00:38:52,319 Speaker 4: point that they're feeling a little out of touch with 628 00:38:53,200 --> 00:38:56,600 Speaker 4: what's been happening on the ground and they want to 629 00:38:56,600 --> 00:39:00,560 Speaker 4: plug in. They are really interested in me, and we've 630 00:39:00,600 --> 00:39:08,080 Speaker 4: had tremendous interest in meeting Zorn speaking with him. He's 631 00:39:08,360 --> 00:39:10,520 Speaker 4: made calls to some business what. 632 00:39:10,440 --> 00:39:13,359 Speaker 2: Do they say after like the after those phone calls, 633 00:39:13,400 --> 00:39:15,759 Speaker 2: because they've you know, you mentioned the meetings that are 634 00:39:15,760 --> 00:39:17,840 Speaker 2: coming up, but some have already they've already chatted like 635 00:39:17,840 --> 00:39:19,280 Speaker 2: what is what? What is their response? 636 00:39:19,440 --> 00:39:24,160 Speaker 4: Their response is that he is you know, they said, 637 00:39:24,160 --> 00:39:27,239 Speaker 4: he's the politician of a generation. I mean, he's a 638 00:39:27,360 --> 00:39:32,839 Speaker 4: generational figure. They're they're impressed after a ten minute phone 639 00:39:32,880 --> 00:39:38,319 Speaker 4: call with him because he is he's a very effective 640 00:39:38,480 --> 00:39:44,160 Speaker 4: communicator and he listens on you know, business leaders like 641 00:39:44,239 --> 00:39:44,880 Speaker 4: to be listened to. 642 00:39:45,640 --> 00:39:48,640 Speaker 2: Kathy Wilde, that was fantastic. So glad we made this happen. 643 00:39:48,680 --> 00:39:50,759 Speaker 2: And like I said, maybe we'll maybe we'll have you 644 00:39:50,840 --> 00:39:52,799 Speaker 2: back at some fun or would love to have you 645 00:39:52,840 --> 00:39:53,279 Speaker 2: back on it. 646 00:39:54,200 --> 00:39:54,600 Speaker 4: Thank you. 647 00:39:54,840 --> 00:40:11,239 Speaker 2: Nice to be here, Tracy. I really like that conversation. 648 00:40:11,440 --> 00:40:14,040 Speaker 2: There was a lot to pull from this idea. There 649 00:40:14,040 --> 00:40:16,959 Speaker 2: are a number of things. This idea that the CEOs 650 00:40:17,120 --> 00:40:20,279 Speaker 2: who are headquartered here in New York City, just by 651 00:40:20,320 --> 00:40:23,759 Speaker 2: the nature of the changing economy, are less New York 652 00:40:23,760 --> 00:40:26,640 Speaker 2: City focused themselves, to me, is like something I hadn't 653 00:40:26,680 --> 00:40:28,480 Speaker 2: really thought about but makes a lot of sense to me. 654 00:40:28,640 --> 00:40:31,160 Speaker 3: Yeah, I thought that was really interesting. The other interesting 655 00:40:31,239 --> 00:40:34,160 Speaker 3: point that Kathy brought up was I guess the divergence 656 00:40:34,200 --> 00:40:37,719 Speaker 3: between you know, Wall Street CEOs and perhaps other businesses 657 00:40:38,200 --> 00:40:41,319 Speaker 3: versus real estate, which really seems to be freaking out 658 00:40:41,400 --> 00:40:44,400 Speaker 3: about the prospects of Mumdani mayorship. 659 00:40:44,640 --> 00:40:45,040 Speaker 1: Yeah. 660 00:40:45,160 --> 00:40:48,480 Speaker 2: No, that's really interesting, this idea that it's not monolithic. 661 00:40:49,080 --> 00:40:50,960 Speaker 2: I said it in the intro, or I said it 662 00:40:51,000 --> 00:40:52,960 Speaker 2: early on. You know, I think a lot of people 663 00:40:53,080 --> 00:40:56,120 Speaker 2: who are on paper they're like, well, you look down 664 00:40:56,160 --> 00:40:59,680 Speaker 2: the list of his policies. Maybe not something that they're 665 00:40:59,760 --> 00:41:02,560 Speaker 2: too into, but the fact that they don't like find 666 00:41:02,680 --> 00:41:04,880 Speaker 2: him to be threatening or they don't find him to 667 00:41:04,880 --> 00:41:07,719 Speaker 2: be repellent in some way. And so it's striking that 668 00:41:07,840 --> 00:41:11,440 Speaker 2: already he's having these conversations. Also, like, it is just 669 00:41:11,480 --> 00:41:13,799 Speaker 2: striking to me that you know, people see him as 670 00:41:14,080 --> 00:41:19,120 Speaker 2: you know, potentially this extremely ideological person, and yet from 671 00:41:19,160 --> 00:41:21,880 Speaker 2: the very beginning of his campaign in September was reaching 672 00:41:21,920 --> 00:41:24,960 Speaker 2: out to Kathy and like making these connections. I mean, 673 00:41:25,000 --> 00:41:26,600 Speaker 2: it was a really savvy campaign. 674 00:41:26,800 --> 00:41:29,120 Speaker 3: Well, the other thing on that note, First of all, 675 00:41:29,280 --> 00:41:32,120 Speaker 3: I'm really fascinated to see whether or not this starts 676 00:41:32,160 --> 00:41:34,839 Speaker 3: to change campaign finance and the way it works, because 677 00:41:34,880 --> 00:41:39,040 Speaker 3: again Cuomo had all the money. Yeah, exactly. And the 678 00:41:39,080 --> 00:41:42,160 Speaker 3: other thing I'm really interested in is, Okay, the business community, 679 00:41:42,600 --> 00:41:45,280 Speaker 3: Kathy was saying one of their primary concerns is attracting 680 00:41:45,320 --> 00:41:49,200 Speaker 3: talent into the city. Well, you know that talent, presumably 681 00:41:49,400 --> 00:41:51,880 Speaker 3: a lot of it is young. There's probably a large 682 00:41:51,880 --> 00:41:55,359 Speaker 3: portion in there that is, you know, of a progressive bent, 683 00:41:56,040 --> 00:41:58,839 Speaker 3: and so a candidate like Zoraen might appeal to them 684 00:41:58,880 --> 00:42:00,880 Speaker 3: and actually bring more peace into the city. 685 00:42:01,040 --> 00:42:04,600 Speaker 2: So it's also interesting, I mean, the safety and crime 686 00:42:04,640 --> 00:42:07,760 Speaker 2: thing is the number one thing right that would cause 687 00:42:07,800 --> 00:42:11,200 Speaker 2: people to leave because and again there's a lot more 688 00:42:11,239 --> 00:42:14,080 Speaker 2: talk about leaving New York City though there is actually 689 00:42:14,400 --> 00:42:16,400 Speaker 2: leaving New York City. And it is true that I 690 00:42:16,440 --> 00:42:18,680 Speaker 2: think a lot of those people who thought they were 691 00:42:18,680 --> 00:42:22,560 Speaker 2: going to DeCamp to Miami during the post pandemic period 692 00:42:22,600 --> 00:42:26,360 Speaker 2: of comeback for obvious for obvious reasons. But it's interesting 693 00:42:26,400 --> 00:42:28,680 Speaker 2: that it's not even like any of the economic stuff. 694 00:42:28,719 --> 00:42:32,920 Speaker 2: It's not the socialism stuff. It's just the basic safety stuff. 695 00:42:33,000 --> 00:42:34,440 Speaker 2: And there is I know, there's a lot of the 696 00:42:34,520 --> 00:42:37,200 Speaker 2: question about whether Mamdani, if he wins, will keep the 697 00:42:37,239 --> 00:42:40,919 Speaker 2: police commissioner. The crime stats have improved quite a bit 698 00:42:41,560 --> 00:42:44,160 Speaker 2: in recent years. The idea that this is like the 699 00:42:44,200 --> 00:42:46,880 Speaker 2: really big thing more than you know, the rent freeze 700 00:42:47,040 --> 00:42:49,279 Speaker 2: or taxes or anything else. I think it's just going 701 00:42:49,360 --> 00:42:53,480 Speaker 2: to be an interesting executive question for Mamdani. 702 00:42:53,680 --> 00:42:57,400 Speaker 3: Lots of interesting questions thrown up by this whole election. 703 00:42:57,680 --> 00:42:58,759 Speaker 3: Shall we leave it there for now? 704 00:42:58,800 --> 00:42:59,440 Speaker 2: Sure, let's leave it. 705 00:42:59,480 --> 00:43:02,200 Speaker 3: There has been another episode of the Odd Lots podcast. 706 00:43:02,280 --> 00:43:05,319 Speaker 3: I'm Tracy Alloway. You can follow me at Tracy Alloway and. 707 00:43:05,280 --> 00:43:08,000 Speaker 2: I'm Jill Wisenthal. You can follow me at the Stalwart. 708 00:43:08,239 --> 00:43:12,000 Speaker 2: Follow our producers Carmen Rodriguez at Carmen armand Dashel Bennett 709 00:43:12,040 --> 00:43:15,640 Speaker 2: at Dashboud and Kilbrooks at Kilbrooks. From our Odd Lots content, 710 00:43:15,719 --> 00:43:18,040 Speaker 2: go to Bloomberg dot com slash od Lots for the 711 00:43:18,120 --> 00:43:20,680 Speaker 2: daily newsletter and all of our episodes, and you can 712 00:43:20,760 --> 00:43:22,880 Speaker 2: chat about all of these topics twenty four to seven 713 00:43:22,960 --> 00:43:25,920 Speaker 2: in our discord Discord dot gg slash odlog. 714 00:43:26,320 --> 00:43:28,640 Speaker 3: And if you enjoy Odd Lots, if you like it 715 00:43:28,719 --> 00:43:32,200 Speaker 3: when we do local New York politics that has national relevance, 716 00:43:32,320 --> 00:43:34,800 Speaker 3: then please leave us a positive review on your favorite 717 00:43:34,840 --> 00:43:38,600 Speaker 3: podcast platform. And remember, if you are a Bloomberg subscriber, 718 00:43:38,680 --> 00:43:42,000 Speaker 3: you can listen to all of our episodes absolutely ad free. 719 00:43:42,120 --> 00:43:44,040 Speaker 3: All you need to do is find the Bloomberg channel 720 00:43:44,080 --> 00:44:00,560 Speaker 3: on Apple Podcasts and follow the instructions there. Thanks for listening, 721 00:44:08,760 --> 00:44:09,280 Speaker 3: bend 722 00:44:13,000 --> 00:44:17,280 Speaker 2: In