Opportunity Zones

“Opportunities. Those are the brainchild of Sean Parker. He in, in the early 2000, he was Facebook's first president and he wanted to minimize his capital gains on his tech stock fortune. So he lobbied the government to create this idea of opportunity zones so …”

“Sean Parker, I believe, is the guy who created, he either created, or he was important with helping create it with opportunity, opportunity zones and real estate.”

“One is that we are operating in an opportunity zone, and we're using that legislation to pull SAS into an opportunity zone and protect cap gains for our investors.”

“It's the biggest thing I've ever seen in my lifetime. To reallocate capital and let it flow and let it change the different parts of the country and let it equalize the economic areas of the country.”

“Right now it's probably seven, eight trillion dollars, but it's growing in another two and a half trillion dollars every year, and so that over a period of time, we believe at least a trillion dollars of capital is going to flow from one area, one geography, t…”

“It's going to encourage every single business that's going to start up United States. It's going to force it for tax reasons, for economic reasons, to be in an opportunity zone.”

“So in fact, it's 10% of the entire United States is an opportunity zone. That's in every city, every state, every rural area, all of Puerto Rico. So it's everywhere. That's the first thing, and it covers 12% of the population.”

“The fact is, which people don't realize, 70% of this is aimed at business. If this doesn't create jobs, Jobs, jobs, jobs. Then this is going to be a complete failure. You're going to have stranded real estate.”

“Google is just moving 20,000 AI people to the tip of New York. Now, some of it's not an opportunity zone, but it's surrounded by three opportunity zones.”

“Micron's building a plan in Manassas, three billion dollars, opportunity zone.”

“Amazon's second headquarters is partially an opportunity zone in northern Virginia.”

“So we're already seeing non-taxpayers, state pension funds, begin to look at this as a way to change areas that are in need by joining with the people doing opportunity zones.”

“There's no specific economic incentive. It's just they're going to get a higher return on their money. Do you want to be downtown New York, which where jobs are going to be moving out from, or do you want to be in Brooklyn or the tip of New York? Do you want t…”

“Sean Parker from Napster came up with this idea seven, eight years ago, and is really the Key driver. This is one of his think tanks”

“There will be another set of regulations that will allow people to really be aggressively doing things, and then there'll be abuse regulations, because whenever you create a program of a trillion dollars or more, it's only natural that there'll be abuses, and …”

“It's going to have a negative impact on a lot of real estate that's in more traditional areas.”

“In fact, I would short Silicon Valley right now. If you have real estate in Palo Alto, you should be selling it, because if you're in Silicon Valley, you're, Except for a small place in Silicon Valley, which is an opportunity zone, those businesses are all goi…”

“One of the secondary benefits of Opportunity Zone is many of the small banks in the United States that sit in the middle of Opportunity Zones. They're going to be overwhelmed with new loan applications.”

“I think the opportunity zone thing, the challenge is going to be finding good deals, not finding capital.”

“It's creating a tax advantage way to invest in, in these areas, which I believe over time will have a big impact, and certainly one of the biggest impact over time is on the economy, because I believe it'll be One, two, three trillion dollars.”

“This is an example where things are going to happen unbelievably quickly. It's gonna create enormous loan demand for small banks, regional banks, All over the country, and I believe, we'll see, I've been wrong a lot of times before, but I believe this will be …”