The permitting process is Byzantine. It takes years. All those delays cost money. The tenant rights movement has gone so far that landlords basically can't, you know, it's almost impossible to evict anybody. No one wants to build these multifamily buildings or buy them in the state of California. So there's a lot of reasons why people don't want to invest in more housing in California.
0:00 Bestie intro plus a new moderator!
7:19 Adam Neumann raises $350M from a16z for his new residential real estate startup Flow
25:32 Housing policy: Bay Area, Houston, Miami differences
45:41 China, Saudi Arabia, Russia increase relations: should the US be worried?
1:01:09 Inflation Reduction Act signed into law: climate change impact, CBO scorecard, IRS beefed up, carbon tax, big pharma pricing, and more
1:29:47 Chamath ends his spat with Phil Hellmuth, FBI raid follow-up
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Intro Music Credit:
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Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.nytimes.com/2022/08/15/business/dealbook/adam-neumann-flow-new-company-wework-real-estate.html
https://www.google.com/finance/quote/PLD:NYSE
https://www.google.com/finance/quote/WE:NYSE
https://www.google.com/finance/quote/BX:NYSE
https://a16z.com/2020/04/18/its-time-to-build
https://www.bloomberg.com/news/articles/2022-08-05/vc-marc-andreessen-opposes-plan-for-multi-family-atherton-housing
https://www.politico.com/news/2022/08/16/xi-jinping-saudi-arabia-trip-middle-east-influence-00052023
https://www.wsj.com/articles/saudi-arabia-considers-accepting-yuan-instead-of-dollars-for-chinese-oil-sales-11647351541
https://www.wsj.com/articles/china-to-join-russia-military-exercises-as-u-s-rivals-deepen-ties-11660755790
https://www.reuters.com/markets/europe/saudi-pif-buys-shares-alphabet-zoom-microsoft-us-shopping-spree-2022-08-16
https://www.foreignaffairs.com/ukraine/playing-fire-ukraine
https://www.cbo.gov/system/files/2022-08/hr5376_IR_Act_8-3-22.pdf
https://www.weforum.org/agenda/2022/02/what-a-carbon-tax-can-do-and-why-it-cannot-do-it-all
https://www.realclearinvestigations.com/articles/2022/08/18/fbi_unit_leading_mar-a-lago_probe_previously_led_russiagate_hoax_848582.html