DOCSLIB.ORG

THE KNOWLEDGE PROJECT #81 Jason Calacanis

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
THE KNOWLEDGE PROJECT #81 Jason Calacanis THE KNOWLEDGE PROJECT #81 Jason Calacanis fs.blog Shane Parrish: Today I’m talking with Jason Calacanis, tech entrepreneur, angel investor, and so much more. This conversation focuses on poker, investing, decision making, the culture of Silicon Valley, wealth distribution, and how systems enable or forbid. I just want to say this episode touched on politics a little more than we normally do. It wasn’t intentional, it’s just a by-product of the organic conversation we had. It’s time to listen and learn. Jason, so good to have you on the show. Jason Calacanis: I’m a big fan of your work. Thanks for having me. You’re a high stakes poker player. Can you talk to me a little bit about what’s going through your mind when there’s a lot of money on the line? Yeah. I play higher stakes poker these days. I started playing poker in New York with my friends at a place called Forlini’s down in Chinatown, an Italian place below Little Italy. We would just buy in for like 10 bucks and people would just get drunk real quick and people didn’t know if a flush was better than a straight, but over time I went for bigger and bigger tables and learned a lot about trying different styles of poker. And so I made lot of friends in the poker community. I’m good friends with Phil Hellmuth and back in the day Annie Duke, and really just loved the game and what it teaches you about taking risk and what’s an intelligent risk. And it’s very analogous to angel investing in many ways, and also not. It’s a very interesting way to learn how to take risk and to read people and to understand situations with a little bit of math involved which if you think about what I do for a living now, angel investing, it’s very analogous. I have to read people, I have to take risks, I’ve got to take intelligent risks, and I only make money if I’m taking risks on a very consistent basis, right? Poker, people have this idea that there’s this big advantage people have. Sometimes in poker people have a 51% to 49% or 60/40 advantage, but they’re playing so many hands of poker over such a long duration, that that little edge adds up over many hands. 2 FS.BLOG | © 2020 FARNAM STREET MEDIA INC. And that’s why you see sometimes the world’s greatest player like Phil Hellmuth losing over and over again because yeah, he might be 60/40 versus somebody which over time means that person’s going to lose millions of dollars to him but you might not see it in a particular hand or in a particular five hand run or a 10 hand run where two players are playing against each other. Well, let’s double click on that for a second. How do you get feedback then when you’re right or wrong, because you could play the hand perfectly and still have a bad outcome. Yeah. And that’s why when Trump was at 15% I made a bet with my friend that Trump was going to win because, and I think a lot of people were shocked when they saw Trump won. And they’re like oh my God, Trump won. He only had 15% or he’s only 20%. And it’s like, anybody who’s ever had aces and had them cracked knows how often 20% actually happens, right? It’s like one out of five times, it does happen. That’s where a tilt control comes in and you’ve got to be very careful to understand when you’ve played bad or when you’ve played good. And that’s why recording your hands and writing them down in your iPhone or whatever during a session or replaying the hand and understanding the mistakes you made and being super critical of yourself is really important. And I think that’s a skill that very few people have. They remember their wins and then they get this survivorship bias of, they hit a two outer and they’re like, “I’m a great poker player.” And it’s like well, you had a 4% chance to hit that card. You’re not a good poker player, you got your money in bad. Or I got my money in good and the other person hit their two outer, they had a 4% chance, I want that situation every time even though I just lost $10,000 on that hand, right? And so when you put money into the equation, it really does change when you have skin in the game. It really does change people’s behavior. And that’s why you’ll see the really good players try to kick up the stakes constantly because at a certain point, people’s brains kind of tick over and break and they’re like oh, my God, this is a lot of money. 3 FS.BLOG | © 2020 FARNAM STREET MEDIA INC. And once you have somebody thinking this is a lot of money I’m risking, their game just collapses and it becomes predictable because they start taking less risk and then they start playing tight. And that’s why I’ve always loved to play well below my means and not have the amount of money change the way I play. And I opt out of very big games. I was invited to all the Molly’s games in L.A. because I was living there at the time, and she used to invite me to all these games and be at the Four Seasons. “Oh, Leo’s here and Toby’s here and they really want to see you.” And I was like, “They really want to see me lose 30 grand.” They don’t want to see Jason Calacanis, give me a break. But they were playing very high stakes poker and I think they were trying to get people uncomfortable and get an edge. And poker is all about having an edge. And then you’re at that table you’re looking at the other players saying, “Which two players are better than me, which three players am I better than and which three players are as good as me.” And you want to stay out of hands with the players that are better than you and you want to get in hands where the players who are not as good as you, at least everything I’ve learned. How do you develop that edge and how do you know what your edge is? Yeah. I think being super self-aware of not only how other people are playing but how you’re playing, right? So how do people perceive me at the poker table? I think about that a lot. How do people perceive me as an angel investor? How do people perceive me in Silicon Valley, and then what advantage do I have in that perception of my role here and how do I lean into that. So people generally would look at me as a very conservative type poker player who cares about the money, which means if I take the time to bluff or I fold a lot, people expect me to have it. So when I do bluff my chances of successfully bluffing go up, but I might be laying down a lot of good hands. And what I’ve learned in poker is really, it’s about when you get up from the table because if everybody’s relatively similar in their ability what I see a lot is, there’s people who like to lose. I know this sounds like a really crazy concept, but there are people who are gamblers who love the feeling of being down. And if you’ve seen the movie Uncut Gems, have you seen it yet? 4 FS.BLOG | © 2020 FARNAM STREET MEDIA INC. No. Okay. So Adam Sandler’s Uncut Gems is a masterpiece. It’s very uncomfortable to watch if you’re not a gambler or you don’t know somebody who’s a degenerate gambler. But it is about a degenerate gambler and he has the disease where he loves to come back from being down and low. There are people who if they’re down $100,000 and they come back to zero, that’s more rewarding to them than getting $100,000 up from zero. Oh, wow. So let me say that again. Digging themselves out of a hole is a better feeling, more rewarding to their dopamine receptors than being up a hundred from zero. And I know a lot of people like that, actually. And it really is about when you leave the table. And so I did this when my wife was asking me to explain gambling to her. I was like oh, let’s go down to the roulette table. I’ll teach you the Martingale system where you double your bet every time. And I took out a hundred dollar bill. I said, “Where do you want to go to lunch?” We were at the Wynn and she said, “I want to go to the dim sum place,” I was like, “Yeah, perfect. That’s what I like.” And so I said, “Okay, look at all the roulette tables. Which one has the most number of reds in a row?” And she said, “That one has six.” And I said, “Okay, so that means nothing statistically because every chance is 50/50, right?” She’s like, “Obviously.” She’s smarter than I am.
Load more

Recommended publications
  • St. Francis College Terrier Magazine | Fall 2019, Volume 83, Number 1
    First Master of Fine Arts Degrees Awarded 2019 SFC Literary Prize Arts at SFC The McGuire Scholars: First Class Graduates President Miguel Martinez-Saenz, Ph.D., and McGuire Scholar Antonia Meditz ’19, the 2019 Spring Commencement THE ST. FRANCIS COLLEGE MAGAZINE | FALL 2019, VOLUME 83, NUMBER 1 TERRIER BOARD OF TRUSTEES ALUMNI BOARD OF DIRECTORS Fall 2019 Volume 83, Number 1 CHAIRMAN PRESIDENT Terrier, the magazine of St. Francis College, Denis Salamone ’75 Robert L. Smith ’72 is published by the Office of Marketing and Communications for alumni and friends of TRUSTEES VICE PRESIDENT St. Francis College. Hector Batista ’84, P’17 Patricia Moffatt Lesser ’77 Bro. William Boslet, OSF ’70 Linda Werbel Dashefsky SECRETARY Rev. Msgr. John J. Bracken Vice President for Kevin T. Conlon ’11 Government and Community Relations Kate Cooney Burke Thomas F. Flood Timothy Cecere P’20 DIRECTORS Vice President for Advancement William Cline Joseph M. Acciarito ’12 Bro. Leonard Conway, OSF ’71 James Bozart ’86 Tearanny Street John J. Casey ’70 Executive Director, Edward N. Constantino ’68 Marketing and Communications Kenneth D. Daly ’88 Salvatore Demma ’09 and ’11 Mary Beth Dawson, Ph.D. Joseph Hemway ’84 EDITOR William F. Dawson, Jr. ’86 Dorothy Henigman-Gurreri ’79 Leah Schmerl Jean S. Desravines ’94 Sarah Bratton Hughes ’07 Director of Integrated Communications, Gene Donnelly ’79 Mary Anne Killeen ’78 Marketing and Communications Catherine Greene Josephine B. Leone ’08 CONTRIBUTORS Leslie S. Jacobson, Ph.D. Alfonso Lopez ’06 Rob DeVita ’15 Penelope Kokkinides James H. McDonald ’69 Kathleen A. Mills ’09 Joey Jarzynka Barbara G. Koster ’76 Jesus F.
    [Show full text]
  • Aspen Ideas Festival Confirmed Speakers
    Aspen Ideas Festival Confirmed Speakers Carol Adelman , President, Movers and Shakespeares; Senior Fellow and Director, Center for Global Prosperity, The Hudson Institute Kenneth Adelman , Vice President, Movers and Shakespeares; Executive Director, Arts & Ideas Series, The Aspen Institute Stephen J. Adler , Editor-in-Chief, BusinessWeek Pamela A. Aguilar , Producer, Documentary Filmmaker; After Brown , Shut Up and Sing Madeleine K. Albright , founder, The Albright Group, LLC; former US Secretary of State; Trustee, The Aspen Institute T. Alexander Aleinikoff , Professor of Law and Dean, Georgetown University Law Center Elizabeth Alexander , Poet; Professor and Chair, African American Studies Department, Yale University Yousef Al Otaiba , United Arab Emirates Ambassador to the United States Kurt Andersen , Writer, Broadcaster, Editor; Host and Co-Creator, Public Radio International’s “Studio 360” Paula S. Apsell , Senior Executive Producer, PBS’s “NOVA” Anders Åslund , Senior Fellow, Peter G. Peterson Institute for International Economics Byron Auguste , Senior Partner, Worldwide Managing Director, Social Sector Office, McKinsey & Company Dean Baker , Co-Director, Center for Economic and Policy Research; Columnist, The Guardian ; Blogger, “Beat the Press,” The American Prospect James A. Baker III , Senior Partner, Baker Botts, LLP; former US Secretary of State Bharat Balasubramanian , Vice President, Group Research and Advanced Engineering; Product Innovations & Process Technologies, Daimler AG Jack M. Balkin , Knight Professor of Constitutional
    [Show full text]
  • Mahalopresentation
    Helping people find information they can trust Overview DEMOGRAPHIC FOUNDER / CEO INVESTORS LAUNCHED JASON CALACANIS MAY 31, 2007 52% MALE HEADQUARTERS 70% AGE 18 - 49 SANTA MONICA, CA 56% COLLEGE DEGREE EMPLOYEES 49% ABOVE $60,000 58 FULL TIME 46% HAVE CHILDREN Jason in a serial entrepreneur Mark Cuban MONTHLY VISITORS 65% US VISITORS who has created many internet 5.5 MILLION UNIQUE brands including Engadget, Autoblog and Joystiq. Elon Musk Mahalo is the combination of 3 of the most powerful services on the web: Search, content and knowledge exchange... Imagine Google, Wikipedia, and Yahoo Answers all rolled into one product. Notable Press “Humans... can have a better understanding of the Mahalo is frequently most relevant information to consumers and how referenced as a it should be presented” -Wall St. Journal potential new game- changing approach to “The Human Touch That May Loosen Google’s searching online. Grip” -New York Times Publishers point to “For people looking for simplicity, relevance, and a the relevancy and little human common sense, it’s a pretty attractive human touch that the site offers. proposition” -Fast Company “Searching Beyond Google” -TIME online Quarterly Unique Visitors 15,000,000 12,500,000 10,000,000 7,500,000 5,000,000 2,500,000 0 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Quarterly Pageviews 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0 Q3 2007 Q4 2007 Q1 2008 Q2 2008 Q3 2008 Q4 2008 TOP MEMBERS KEY FEATURES LAUNCHED robbrown DEC 15 2008 1471 Answers VIRTUAL 523 Best Answers CURRENCY / TIPPING MONTHLY USERS M$1137.50 Earned SYSTEM 1 MILLION easyeboy 2234 Answers ABILITY TO EMBED 836 Best Answers PHOTOS AND VIDEOS QUESTIONS PER DAY M$800.00 Earned 500+ TWITTER, FACEBOOK jeffhoard IPHONE AND EMAIL ANSWERS PER DAY 1911 Answers 922 Best Answers INTEGRATION 750+ M$573.50 Earned 1234567890 9 96 9 81 11 111 16 911 White Labeling Mahalo can build an answers service for any client within any vertical.
    [Show full text]
  • Strange Bedfellows in Airbnb Dispute
    GOV. CUOMO eats (and eats and eats) his way through New York CRAIN’S® PAGE 33 NEW YORK BUSINESS ap images VOL. XXIX, NO. 41 WWW.CRAINSNEWYORK.COM OCTOBER 14-20, 2013 PRICE: $3.00 Strange bedfellows in Airbnb dispute Landlords, tenant groups find a common enemy in home-rental service BY MATTHEW FLAMM For Airbnb, it is pretty much an article of faith that its short-term home- rental service is no ordinary business but a community of users taking part in the “sharing economy.” But Airbnb is also helping to build another type of community, one filled with New Yorkers who ordinarily can’t stand each other: tenant advocates and building owners, who say that when it comes to stopping Airbnb, they share SANDY: 1 YEAR LATER a common cause. “I’ve always been on the opposite side of the table from [landlords],”said AA marathonmarathon efforteffort See AIRBNB on Page 31 Cancellation cost NYRR $4 million—and hurt its reputation. De Blasio’s Now Mary Wittenberg is rebuilding and expanding its mission top donor is getty images pension pal BY LISA FICKENSCHER IN THE DARK DAYS FOLLOWING SUPERSTORM SANDY, Mary Wittenberg believed deeply that the marathon scheduled for Sunday would be the inspirational event Class-action lawyer that the city needed to help it heal. When the calls came, louder and louder, to bundles thousands; cancel the event, she resisted. firm earns millions In taking that stand,the chief executive of the New York Road Runners,which organizes the ING New York City Marathon, became the object of intense vit- BY CHRIS BRAGG riol.
    [Show full text]
  • Gary Vaynerchuk, Jason Calacanis, Brian Tracy, Kara Swisher and David Cohen) by Alex Hammer Author of “The Laws and Secrets of Success”
    The Online Success Leaders Volume 1 (Gary Vaynerchuk, Jason Calacanis, Brian Tracy, Kara Swisher and David Cohen) By Alex Hammer Author of “The Laws and Secrets of Success” Photo Credits: Gary Vaynerchuk - http://en.wikipedia.org/wiki/File:Gary_Vaynerchuk_by_Erik_Kastner.jpg “This is a file from the Wikimedia Commons.” Jason Calacanis - http://en.wikipedia.org/wiki/File:Jason_Calacanis_(6723612583).jpg “This is a file from the Wikimedia Commons.” Brian Tracy - http://upload.wikimedia.org/wikipedia/commons/6/6b/Brian_Tracy.jpg “This is a file from the Wikimedia Commons.” Kara Swisher - http://allthingsd.com/about/ Used with permission of Kara Swisher. David Cohen (photo supplied previously by David Cohen). INTRODUCTION These are the leaders of the new century. The Online Century. Is the Internet as revolutionary as the printing press? The discovery of electricity? The creation of the car and airplane? What is the future of our online world? Virtual reality? Virtual personal assistants? Wearable computing (think Google Glass and Nike Fuel Band for starters). This is a book of key influencers, early adopters and market makers. You know about Mark Zuckerberg and Larry Page. These are the Zuckerbergs and Pages who, while also well known, are not yet as National household names (ok, Brian Tracy may already be). But they’re close. And the impact they are having is immense. Gary Vaynerchuk Gary Vaynerchuk Wikipedia Bio: http://en.wikipedia.org/wiki/Gary_Vaynerchuk Gary Vaynerchuk Primary website: http://www.garyvaynerchuk.com/ Visionary. Relentless. Fearless. Strong. Gary knows that he is a winner. It is in his DNA. Let’s start off with “The Gary Vaynerchuk Primer”, http://www.youtube.com/watch?v=hFT62TBhi 90, a 15 minute YouTube video I did detailing the success principles that we can learn from Gary.
    [Show full text]
  • Pandit's Deadline
    CNYB 03-03-08 A 1.qxp 2/29/2008 9:15 PM Page 1 TOP STORIES BUSINESS LIVES Once-red-hot art Pumping market is catching it up at Wall Street’s cold the office PAGE 3 ® PAGE 47 Unions mobilize to oppose zoning plans unless they VOL. XXIV, NO. 9 WWW.CRAINSNEWYORK.COM MARCH 3-9, 2008 PRICE: $3.00 get wage rules PAGE 3 CREDIT CRISIS FALLOUT Will country radio hit NYC? WNBC feels ratings pain PAINFUL CHOICES: Banks put Ending dividend, NEW YORK, NEW YORK, P. 6 selling units loom as options for Citigroup brakes on Financial fireman head Vikram Pandit. takes charge at key branching industry group CORPORATE LADDER, P. 49 out in NYC Market saturation, credit crunch are factors; retail rents could come down BY ELISABETH TAKE IT TO BUTLER CORDOVA THE LIMIT the great Man- Manhattan branches. hattan bank branch bloomberg news Chase boom is over. 127 CRAIN’s ANNUAL Financial players that paid top dollar to Citibank LOOK AT 64 NEW YORK’s rent hundreds of re- PANDIT’S DEADLINE tail locations, push- HSBC RISING STARS 47 Page F1 ing out neighbor- Fledgling CEO needs to dig deeper to counter rising losses hood coffee shops, Washington florists and fashion Mutual SEE VIDEO the vast institution have fallen far short. To date, boutiques, are end- 46 BY AARON ELSTEIN INTERVIEWS WITH he has halted a big U.S. branch expansion plan, ing their shopping Bank of 2008’s WINNERS @ sold off the company’s Japanese headquarters and spree, real estate America www.crainsnewyork.com/40under40 nearly three months ago, Vikram Pandit appointed a new chief risk officer.
    [Show full text]
  • AOL Inc. (Previously Known As America AOL Inc
    4/8/2014 AOL - Wikipedia, the free encyclopedia AOL Coordinates: 40.7308°N 73.9914°W From Wikipedia, the free encyclopedia AOL Inc. (previously known as America AOL Inc. Online, written as AOL and styled as "Aol." but commonly pronounced as an initialism) is an American multinational mass media corporation based in New York City that develops, grows, and Type Public invests in brands and web sites.[4] The company's business spans digital Traded as NYSE: AOL distribution of content, products, and (http://www.nyse.com/about/listed/quickquote.html? services, which it offers to consumers, ticker=aol) publishers, and advertisers. Industry Media Founded in 1985 as Quantum Computer Founded 1983 as Control Video Corporation Services, an online services company by 1991 as America Online, Vienna, Virginia (Tysons Jim Kimsey from the remnants of Control Corner), U.S.[1] Video Corporation, AOL has franchised 2006 as AOL its services to companies in several nations 2009 as Aol.[2] around the world or to set up international Headquarters 770 Broadway versions of its services.[5] AOL is New York City, New York, U.S. headquartered at 770 Broadway in New York[6][7] but has many offices in cities Area served Worldwide throughout North America. Its global Key people Tim Armstrong offices include Bangalore, India; Dreieich, (Chairman and CEO) Germany; Dublin, Ireland; London, United Kingdom; and Tel Aviv, Israel. As of Services Online services October 2012, it serves 2.9 million paid Revenue $2.19 billion (FY 2012)[3] [8] and free domestic (US) subscribers. Operating $1.201 billion (FY 2012)[3] income AOL is best known for its online software suite, also called AOL, that allowed Net income $1.048 billion (FY 2012)[3] customers to access the world's largest Total assets $2.797 billion (FY 2012)[3] "walled garden" online community and [3] eventually reach out to the Internet as a Total equity $2.137 billion (FY 2012) whole.
    [Show full text]
  • Rough Spots for Obama on the Economic…. Statement Patricia Zengerle (Front Row Going to Take Nearly a Decade in Washington) Order…” and Then He Stopped
    E-reader News Edition - 31/08/10 http://www.LibertyNewspost.com Rough spots for Obama on the economic…. statement Patricia Zengerle (Front Row going to take nearly a decade in Washington) order…” And then he stopped Submitted at 8/30/2010 5:59:31 PM again, and asked, “Can you guys still hear us? OK. Let me try this Things were looking good for one more time.” President Barack Obama’s The third time was the charm, Is There a statement on the U.S. as he continued and finished a 5 economy in the White House -minute statement, saying his Gender Divide Rose Garden: the sun was economic team is hard at work shining in a bright blue late- coming up with new efforts to August sky. boost the economy, and calling in Startups? It was a chance to show that he on Congress to pass legislation Leah Culver (Business was paying close attention to the meant to boost small businesses. Insider) issue most on the minds of Was the sputtering sound Submitted at 8/31/2010 11:15:29 AM Americans. The statement came system a metaphor, perhaps, for just after he ended a 10-day the economy? The blogosphere has renewed vacation trip to the pricey resort Photo credit: Obama taps his the debate about the gender island of Martha’s Vineyard, of technical problems with the families and businesses across microphone to check the sound disparity in the tech industry. and before he launched into a White House sound system. this country. What we did know as he speaks about the economy Leah Culver, co-founder of a week largely devoted to foreign “It’s been nearly two years since was that it took nearly a from the Rose Garden of the successful microblogging site, policy, with an Iraq speech and that terrible September when decade…” Obama said, and then White House in Washington on shares what it’s like on the Mideast peace talks on the our economy teetered on the stopped himself mid-sentence, August 30, 2010.
    [Show full text]
  • AOL (America Online)
    AOL 1 AOL AOL Inc. Type Public [1] Traded as NYSE: AOL Industry Internet Telecommunication Media Founded 2006 as AOL 1983 as Control Video Corporation [2] 1991 as America Online, Vienna, Virginia, U.S. Headquarters New York City, U.S. Area served Worldwide Key people Tim Armstrong (Chairman and CEO) [3] Revenue US$ 2.417 billion (2010) [3] Operating income US$ -983 million (2010) [3] Net income US$ -783 million (2010) [3] Total assets US$ 2.962 billion (2010) [3] Total equity US$ 2.287 billion (2010) [3] Employees 5,860 (2010) [4] Website AOL.com portal [5] AOL.com Corporate site AOL Inc. (NYSE: AOL [1], stylized as "Aol.", and previously known as America Online) is an American global Internet services and media company.[6] [7] AOL is headquartered at 770 Broadway in New York.[8] [9] Founded in 1983 as Control Video Corporation, it has franchised its services to companies in several nations around the world or set up international versions of its services.[10] AOL is best known for its online software suite, also called AOL, that allowed customers to access the world's largest "walled garden" online community and eventually reach out to the Internet as a whole. At its prime, AOL's membership was over 30 million members worldwide,[11] most of whom accessed the AOL service through the AOL software suite. On May 28, 2009, Time Warner announced that it would spin off AOL into a separate public company. The spinoff occurred on December 9, 2009,[12] ending the eight year relationship between the two companies.[13] AOL 2 Description With regional branches around the world, the former American "goliath among Internet service providers"[11] once had more than 30 million subscribers[11] on several continents.
    [Show full text]
  • REPORT REAL ESTATE Knight Capital Offshore Investors Thrives on Chaos on NYC Buying Binge; on Wall Street Top Leases, Sales PAGE 2 ® PAGE 19 St
    CNYB 02-18-08 A 1 2/15/2008 8:36 PM Page 1 TOP STORIES REPORT REAL ESTATE Knight Capital Offshore investors thrives on chaos on NYC buying binge; on Wall Street top leases, sales PAGE 2 ® PAGE 19 St. John’s reports big jump in fall applications; other VOL. XXIV, NO. 7 WWW.CRAINSNEWYORK.COM FEBRUARY 18-24, 2008 PRICE: $3.00 colleges also gain PAGE 3 Tax-exempt How boos for Isiah could derail the big housing Penn Station plan GREG DAVID, PAGE 13 funds are Malpractice panel drying up eyes no-fault birth-injury plan Only 2 or 3 projects THE INSIDER, PAGE 14 with affordable units may get financing BUSINESS LIVES OFFICE ECO-NAGS BY THERESA AGOVINO Getting colleagues to MEETING DEMAND: To go green requires accommodate a wealthy foreign a state housing finance program plenty of patience and guest, Daniel Flannery of is being cut back, which could persuasion PAGE 39 The Ritz-Carlton at Central Park jeopardize a number of affordable built a $1 million suite. housing developments in New York City. david neff david This year, only two or three of $30,000 A NIGHT the approximately 30 projects seeking state tax-exempt financing under the 80/20 Program—build- ings in which 80% of the apart- ments are rented at the market rate Hitting the suite spot and 20% are leased to low-income households—are likely to receive from overseas within 10 days and week stay? More than $200,000. it. Potentially worse is that no oth- What recession? wanted to stay in a large suite on a While most of the city is brac- er projects may get funded in 2009 Hotels cash in on low-level floor.
    [Show full text]
  • Media NYC 2020 Report
    MEDIA. NYC. 2020 Final Report KNOWLEDGE PARTNER NEW YORK CITY ECONOMIC DEVELOPMENT CORPORATION OFFICE OF THE PRESIDENT CENTER FOR ECONOMIC TRANSFORMATION Seth Pinsky, President Steven Strauss, Managing Director Josh Wallack, Chief Operating Officer Kristy Sundjaja, Senior Director Kyle Kimball, Chief Financial Officer Maria Torres, Chief of Staff KNOWLEDGE PARTNER – OLIVER WYMAN EXTERNAL AFFAIRS Martin Kon, Partner – Head of Media & David Lombino, Executive Vice President Entertainment Practice (New York) MARKETING PUBLIC AFFAIRS Peyton Sise, Senior Vice President Julie Wood, Vice President (Alumni) Grace Cheung, Communications Associate THIS REPORT WAS AUTHORED BY ACKNOWLEDGMENTS Steven Strauss We are thankful for the guidance provided by the Kristy Sundjaja project chairs throughout the project: Tim Armstrong, Peter Robinson (Alumni) CEO & Chairman of AOL; Jeffrey L. Bewkes, Chairman Andrew Chen & CEO of Time Warner; Peter O. Price, President & CEO of Premiere Previews; Sir Martin Sorrell, CEO of WPP Group; and to all the participants in the Media. NYC.2020 work. Our particular thanks to the Media. NYC.2020 CEO Committee, and to the global management-consulting firm Oliver Wyman, represented by Martin Kon, Head of the Media & Entertainment practice, for their strategic guidance as NYCEDC’s knowledge partners. INTRODUCTION: LETTER FROM SETH PINSKY Fast-paced, connected, relevant: these are just a few of the defining characteristics of New York City. It is no wonder, then, that New York City has long been an international media capital. Many of the world’s largest media companies are headquartered here, with businesses based here alone generating roughly half of the country’s revenues in magazines, books and broadcast television and accounting for a quarter of the country’s market share in newspapers and cable television.
    [Show full text]
  • A Way Forward a W a Y for Wa Rd Rd • January 2013
    JAN 2013 A Way Forward A W A Y FOR wa RD • JANUARY 2013 JANUARY DAVOS 2013: HOW EUROPE CAN BE SAVED THE MIDDLE CLAss MATRIARCHY SHANGHAI SWOON WHAT’S BUGGING the SWIss? Connect emission-free power to the grid? Electric cars: 15 minutes charging, 200 km driving? ABB is helping construct the world’s most remote offshore wind farm. Having to wait eight hours to fully recharge an electric car is the main reason for not Using our eco-friendly transmission technology, this 400-megawatt buying one. But things have changed: With ABB’s direct current (DC) chargers charging plant is expected to avoid 1.5 million tons of CO2 emissions per year time has been slashed to as little as 15 to 30 minutes. No wonder the Estonian govern- and improve the reliability of the power grid. It’s just one of the ways ment is relying on ABB to build Europe’s largest electric vehicle fast-charging network. that we, as the biggest supplier of electrical products and services for By the end of the year the Estonian main roads will have fast chargers every 50 km. Once the wind industry, can use renewable power sources to help combat accomplished the goal to significantly reduce CO2 emissions by 2020 moves a lot closer. climate change. www.abb.com/betterworld Naturally. www.abb.com/betterworld Certainly. Ad_ABB_2Sujets_Reuters_on_sale_Jan28_431-8x276-225_e.indd 1 11.12.12 15:46 Connect emission-free power to the grid? Electric cars: 15 minutes charging, 200 km driving? ABB is helping construct the world’s most remote offshore wind farm.
    [Show full text]