New York

“Success had, I think, something like five or six of the top 10 schools in the entire state of New York last year, and the demographics of our population were Are typically in the bottom 10% of wealth.”

“And there was a time, I think it was in 2014 or 2015 where there were six deals in all of New York that were at a million dollars in size or under that had an institutional seed investor in them.”

“We're now up to 15,000 kids, and they had the highest test scores in the entire state of New York. The average family income is 35,000 dollars a year.”

“In New York, it's 53% on short-term capital gains. It's 32 on long-term capital gains”

“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.”

“We were still from 2020, we're still only say 30% of occupancy in New York, San Francisco, around 20%.”

“We recently got two twenty-five million dollar sponsorships. One for the IndieBio New York program, multi-year sponsorship, and then a twenty-five million dollar for the Hacks USA, both from the states, one from the state of New Jersey, one from the state of N…”

“First of all, I think venture capital is a very local business, because you have to fill the market, not only you meet the entrepreneur, then the consumer, the competitor, it has to be a local decision. Whoever has a global decision, you know, I see city in Ne…”

“So you've seen a lot of talented entrepreneurs who were originally from Latin America, who moved to San Francisco or New York, all moving home to do startups, because now there's capital that you can fund businesses.”

“The skill That exists and the innovation that exists, whether it's in Silicon Valley or whether it's in New York and other technology hubs, will continue to make investing in top tier venture managers the most attractive returned over, not necessarily the next…”

“Especially being in New York, people exaggerating how great their funds are and how great their returns are. You only hear about, oh, I did that deal, or I did this one. There's a band of returns that are the top, and there are a lot of people who will say tha…”

“This might be the only time that I've ever bought a company without ever having actually visited the company's headquarters or real estate. All of this diligence Happened with the HCA management team. They were very much engaged in it, but in conference rooms …”

“I went from having 45 or so investment professionals at CN to now I have about 175, and we're located across the globe. We have offices in Edmonton, Calgary, Toronto, and London, and we're opening offices in New York and Singapore.”

“And it's probably been the best time to invest here that I've seen ever.”

“And in a very strange way, the financial crisis, which was very bad for New York, was incredibly good for New York Tech.”

“So engineers, despite the challenge of Wall Street, were always at a discount to the Bay Area. The cost of living in San Francisco became much higher than New York in the last five to seven years.”

“So if you get involved in the earliest stages in capital efficient businesses that you know really well in a geography that you think you could have some leadership in, that's a fine enough point and a focused enough strategy that you're able to raise some mon…”

“Some of the things that he talked about in the books were things like the firm having low turnover as part of its investment strategy, being large enough to obviously pay the bills, but not so large that they're asset gatherers, employee ownership, rather than…”

“Mike had moved from New York to Los Angeles in 1978, and moved his whole department with him.”

“47 other states have gone away from this model. The three that are left are Connecticut, New York, and North Carolina.”

“And where we are today is we have a 190 people at the firm. In three offices, New York, Chicago, and San Francisco, we manage money exclusively for wealthy families. There are about a 180 families where we're overseeing their wealth, and that's thirty two bill…”

“We don't take, for example, bonus depreciation, which is very favorable for a lot of the investors in New York. It's not favorable for them to take bonus depreciation”

“We do not touch California. We don't touch New York. These places where you don't know if there's going to be restrictions put in place that are going to impact our ability to manage the assets the way we need to, or that are going to increase taxes on the sal…”

“What we have found over a long period of time is that 90% of what we're going to invest in Is in seven large urban markets, so Boston, New York, DC, Miami, Chicago, San Francisco, LA, and resorts, which the vast majority of the resorts that we invest in are up…”