Penner: Major societal systems like healthcare and finance are collapsing
Ethan Penner · Ep 90: A Conversation with Wall Street Pioneer Ethan Penner · Joe Lonsdale · May 23, 2024 · at 36:08
Real estate financier Ethan Penner responds to Joe Lonsdale's question about how to address pessimism and cynicism among the younger generation.
0:00 / 0:26exact quote · 27.0s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“We are now in this period of time when most systems in our world are literally collapsing around us, whether it be, I think, our healthcare system our social security system, how we care for the elderly our education system, our financial system, almost every big system Is collapsing.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Ethan Penner
Penner: Bond Market Had No Access Points Into Real Estate Before CMBS
“Up until that moment, the bond market had no active or access points, active participation or access points into real estate. And I kind of opened that door or built that bridge for that wealth of money to kind of come in and express itself into real estate.”
Penner: Repetitive Operators Accumulate More Wealth Than Problem-Solving Pioneers
“The pioneers, like I am, who create solutions to problems and then get bored as soon as they've kind of solved the problem, they get rich enough, but they're not really the richest people in the world.”
Penner: Office building finance is desolate with no lenders active
“And the other one is the office building finance business is desolate. There are no lenders for office. At any level, at any attachment.”
Penner: Self-Pity in Adversity Weakens People and Prevents Rebounding
“In moments of challenge and failure, you could react in many different ways, and one of them is you could feel victim. You could feel sorry for yourself, like, oh man, this bad thing happened to me, or this person did this bad thing to me, or just bad luck, or…”
Penner: Post-1950s economic thinking built an unhappy, envy-based society
“One of the things that I think has been underscoring what's wrong in American society, which I discovered was rooted in some economic, bad economic thinking since the 19 fifties, Is this envy-based society, where we prize materialism as kind of the be-all and …”
Penner: In 1991, Regulated Lenders Completely Stopped Quoting Commercial Real Estate Loans
“In 1991, when the light switch went off for real estate, The real estate industry found itself completely without a lending community to service it. All commercial real estate. So it didn't matter whether you had an apartment, a shopping center, a hotel, an of…”