Slate Business Slate Money | Megayacht Foam Parties Are In
Jun 28, 2025
Join a lively discussion on the surprising political win of Zohran Mamdani and the reactions it sparked from business elites. The conversation shifts to Trump’s tactics regarding the Federal Reserve, raising eyebrows about potential leadership changes. Revel in the extravagance of Jeff Bezos' wedding, reflecting on today's opulent celebrations compared to the past's 'stealth wealth'. Enjoy humorous takes on billionaire lifestyles, including foam parties, and delve into the collectible doll craze redefining consumer culture.
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NYC Mayor's Limited Power
- The New York City mayor is powerful yet limited, needing to collaborate with state government and city council.
- Mamdani’s socialist label is exaggerated, and New York's housing reality already involves significant rent regulation.
Progressive Policies Misconstrued
- Many business leaders conflate anything progressive with a threat to capitalism.
- The hysteria surrounding Mamdani’s win is wildly disproportionate to his potential impact as mayor.
NYC Rental Market Is Socialist
- Rent stabilization affects about 75% of rental stock in Manhattan, reflecting a socialist market influence.
- Mamdani’s rent freeze targets these stabilized units, not all renters, and such policies have been enacted before without catastrophic results.