The Fox News Rundown Business Rundown: Mamadani’s Victory Has Many on Wall Street Worried. Should They Be?
Nov 7, 2025
Michael Lee, founder of Michael Lee Strategies and political commentator, dives deep into the implications of Zohran Mamdani's surprising victory in the New York mayoral race. They discuss how Mamdani's bold platform of tax increases and public services has rattled Wall Street's elite. Lee explores the rising anxiety surrounding AI's effect on jobs and its allure for younger voters. He also addresses the economic impact of the ongoing government shutdown, linking it to consumer sentiment and financial stability.
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Populism Fueled By Economic Frustration
- Zohran Mamdani's populist message resonated with voters who feel stuck by rising costs and stalled mobility.
- Michael Lee says this reflects deep economic frustration, especially among those with heavy student debt.
AI's Pace Threatens White-Collar Mobility
- Rapid AI adoption risks making white-collar entry jobs scarcer and slows upward mobility from job switching.
- Lee warns this speed differs from past tech shifts and could increase populist politics.
Position For AI Infrastructure Growth
- Investors who can tolerate volatility should position for AI infrastructure winners that capture exponential compute demand.
- Lee highlights companies renting GPUs and building data centers as high-leverage opportunities.