Friedman advises shorting Silicon Valley and selling Palo Alto real estate
Manny Friedman · Manny Friedman – EJF on Economic Opportunity Zones (EP.91) · Mar 18, 2019 · at 39:19
Manny Friedman, founder of EJF Capital, discusses how Opportunity Zone tax incentives will shift business formation and capital away from concentrated tech hubs like Silicon Valley.
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“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 going to move to Oakland, or they're going to move to parts of California that are opportunity zones.”
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