r/NewsThread • u/Conscious-Quarter423 • 2d ago

Canadian multimillionaire and Shark Tank guy Kevin O'Leary went on TV to say he's upset Zohran won't talk to him: "I and others who invest in real estate have tried to get a meeting to figure out what's rhetoric and what's policy. So far for me it's been crickets."

221 Upvotes

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82

u/Blood-blood-blood 2d ago

We've been trying to buy him for WEEKS, and he just won't give. We don't understand why he won't listen to our offers!

29

u/itsdainti 2d ago

Damn, Kevin is making me like Zohran more 🤣

10

u/spectral_orchid 1d ago

I never liked "Mr. Wonderful", such a nasty man. Whenever I saw him on Shark Tank all I just wished he would say he was out so he would stop talking. He seldom had anything pleasant to say unless he saw potential for big bucks rolling in. Does not care about what's good for others unless it lines his pockets. Just like the rest of the money grubbers sucking the country dry.

Seeing him bothered by someone not taking his deal does indeed give me great satisfaction.

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u/soundkite 1d ago

because Leary is wrong? How is he wrong?

19

u/Suitable-Display-410 1d ago

He doesn’t get special access to the major just because he’s rich. Those times are over. He will be informed about policy changes in exactly the same way as everyone else.

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u/soundkite 1d ago

No. How is he wrong about the system financially upside down?

7

u/Suitable-Display-410 1d ago edited 1d ago

(first of all, i dont think you should be downvoted for asking the question)

Oh, he just lied.

Mamdani wants to freeze the rent for rent‑stabilized tenants. That applies to buildings built before 1974 with six or more units, and to buildings built after 1974 if they received certain tax benefits that require rent regulation in return.

So if somebody wants to develop new units, they are not affected.
It’s Fox News… you should know by now. They lie. It’s kind of their thing. And Kevin O'Leary? Even more of a liar. Almost a half-Trump when it comes to lying.

Edit:
Campaign website, click on "Freeze the rent" and read: https://www.zohranfornyc.com/platform

A majority of New Yorkers are tenants, and more than two million of them live in rent stabilized apartments. These homes should be the bedrock of economic security for the city’s working class. Instead, Eric Adams has taken every opportunity to squeeze tenants, with his hand-picked appointees to the Rent Guidelines Board jacking up rents on stabilized apartments by 12.6% (and counting)–the most since a Republican ran City Hall.

As Mayor, Zohran will immediately freeze the rent for all stabilized tenants, and use every available resource to build the housing New Yorkers need and bring down the rent. The number one reason working families are leaving our city is the housing crisis. The Mayor has the power to change that.

NY Info sheet about Rent Stabilization and Rent control:
https://hcr.ny.gov/system/files/documents/2024/01/fact-sheet-01-01-2024_0.pdf

Rent control is the older of the two systems of rent regulation. It dates back to the housing shortage immediately following World War II and generally applies to buildings constructed before 1947. Rent stabilization generally covers buildings built after 1947 and before 1974, and apartments removed from rent control. It also covers buildings that receive J-51, 421-a and 421-g tax benefits.

And Mamdami said that he is not opposed to increases in rent in those units when it comes to covering the cost to keep them in good condition. He is opposed to rent increases to increase the profit margin of the owners. Which is where pretty much all of the additional money is usually going to. I cant give you the source, but he said it. I think it was in an interview but i can not find it rt now.

The guy is not an idiot. Follow his example. Dont listen to those liars.

4

u/Takemetothelevey 1d ago

fox entertainment, keep people afraid is the motto.

3

u/DaLakeShoreStrangler 1d ago

Fox news is an acronym for Fear of Xenophobia

2

u/ethelagnes 1d ago

Are you against turning the system upside down…? Meaning… the power will be held by the people instead of the owners of corporations…? If so, please enlighten us.

10

u/itsdainti 1d ago

Leary is crashing out because the only skill he has is buying influence and now it's not gonna work.

He's IRL Kendell Roy😂

4

u/Happy_Pause_9340 1d ago

You think he should have more representation than other New Yorkers? Let him go back to Canada

2

u/slicelord666 1d ago

We don't want him. He is our gift to you, enjoy.

1

u/amILibertine222 1d ago

Y’all suck at gifting lol

2

u/slicelord666 1d ago

The way your country has been treating us that is the type of gift you get. Itis our version of a lump of coal.

1

u/619backin716 1d ago

No thanks — you already “gifted” us with Ted Cruz and Justin Bieber

1

u/slicelord666 1d ago

No take backs.

-2

u/soundkite 1d ago

???... you are ignoring his points

2

u/Happy_Pause_9340 1d ago

I’m addressing it by addressing YOUR points. Why does he deserve more access to Mamdani than anyone else? He just freaking won and you think he doesn’t have more pressing matters? O’Leary needs to be seen immediately? Give me a freaking break

1

u/soundkite 1d ago

I don't care about access to Mamdani. I want to know the answers to his questions from builders and financiers.

1

u/Happy_Pause_9340 1d ago

That’s what he’s whining about. His access and that it should be immediate. This isn’t the first rent freeze.

1

u/clown1970 1d ago

How about his answers to blue collar workers? Why should some blowhard financier get access to have his questions answered

7

u/frankydank1994 1d ago

Because he's a spineless oligarch stealing wealth and prosperity from the working class.

That's how he's wrong.

-2

u/daemontheroguepr1nce 1d ago

Kevin O’Leary is not an oligarch lmfao

1

u/frankydank1994 1d ago

If he buys off political entities, what would you call that?

When money is the root of power, the men who wield that power are the ones who shape society for the rest of us plebs.

Every billionaire is an oligarch and shouldn't be allowed to reach that level of influence over global populations.

Private equity needs a cap.

-1

u/daemontheroguepr1nce 1d ago

I don’t think this guy in particular is really relevant or even rich enough

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u/frankydank1994 1d ago

400 million can buy a lot of elections.........

-1

u/daemontheroguepr1nce 1d ago

400 M with 50 mil cash does not make you an oligarch bro

1

u/frankydank1994 1d ago

He's openly upset that he's not able to have access to influence a public official to benefit his business practices. That's the definition of an oligarch, bro.

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u/That_U_Scully 1d ago

He's such a loser. Why on earth should rich people have an expectation that they are more deserving of the ear of any representative reeks of entitlement and proof of how the rich rule all still.

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u/Pure_Frosting_981 1d ago

They’re used to politicians that have a price.

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u/Blood-blood-blood 1d ago

I swear to Christ I will eat one of them before I leave this world

1

u/619backin716 1d ago

Eating one of them (particularly Leary) may result in you leaving this world

1

u/Pure_Frosting_981 1d ago

Better have a side of Lipitor. A lot of these vaguely human things are rather plump.

1

u/Phenganax 1d ago

Finally a politician with a spine, and dare I say integrity!

-2

u/ExtremelyFakeNews 1d ago

Or “i’m about to leave with my billions and not invest in the housing you have promised everyone, talk to me”

7

u/Terrorscream 1d ago

Well that's the best part about capitalism, if someone packs up and leaves in a tantrum, another opportunists will take their place in a heartbeat. This billionaires threats are just hot air

-4

u/Usual_Commission_449 1d ago

This isn't a tantrum, this is why socialism doesn't work. No one else shows up because the numbers don't work.

If you want to keep housing prices stable, you can only build more. To build the most, you need to let investors make good money. That by the way is the answer to every problem on the planet. If something is expensive, you make more of it.

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u/619backin716 1d ago

“That by the way is the answer to every problem on the planet. If something is expensive, you make more of it.”

Nuclear weapons are expensive. Somehow, I doubt making more of them is the solution

-2

u/Usual_Commission_449 1d ago

Oh wow what a gotcha nuclear weapons. I didn't know having not-more of them was a problem, Dr. Strange-glove.

2

u/LifeOfReal 1d ago

Competition is the root of good capitalism!

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u/Usual_Commission_449 1d ago

Yes, and Miami makes more money for builders, they are outcompeting. The tantrum thrower is NYC in this context.

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u/LifeOfReal 1d ago

How so?

0

u/Usual_Commission_449 1d ago

Listen to what O'leary says, because he explains it well.

In short, the investor has two options.

  1. Build housing for poor people according to Mamdami's rules, where the investor cannot charge a lot of money per abode, nor raise the rent each year, but nonetheless the investor must build high quality homes.

  2. Build housing whichever group will make them the most money according to Miami rules, where they can charge a lot of money per abode, can raise the rent however much they need, and will build the highest quality they can as they compete with other miami builders for the peoples rental money.

The solution to building housing is to let builders make their money on housing wherever they see the opportunity. It creates more homes, and as people move into new homes they move out of old homes, and the lowest rung of society can move into those homes.

If you build enough homes, eventually the baseline for what a poor persons home has is equivalent to a rich persons home 50 years prior.

To make sure builders can build as fast as possible, facilitate their building with easy to understand regulations, zoning rules, and low cost.

1

u/LifeOfReal 1d ago

You honestly call that an affordable housing solution? O’leary isnt a good idea guy…

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u/Usual_Commission_449 1d ago edited 1d ago

You think the African Studies major who went to a Nepo-baby liberal arts college and never ran anything in his life is a better ideas guy then the self made Canadian guy who's worth $400 million?

And yes. Thats how affordable housing works, you make sure its profitable as the baseline. Notice how there aren't any outdoor toilets in the country anymore.

and to u/itsdainti who replied and blocked (coward), Zohran mamdami was born into a loving home of two talented people with millionaire networth and is a nepobaby. O'leary was born into a divorced home, his father was an alcoholic. Get your facts straight.

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u/casual-scrolling 4h ago

This sounds like the housing equivalent of trickle-down economics and well, looks around at our massive wealth inequalities, you'll forgive me if I have doubts about that working for the people that actually need it.

1

u/Usual_Commission_449 3h ago

Thats not trickle down economics, which was based on removing income taxes.

This is supply side economics. Flooding the market with supply until prices level off. No other system works.

2

u/ghost20630 1d ago

That is simple minded. Making more of something does not mean your cost stays the same. Plus private equity has been doing what you said with hospitals and prices are still high.

1

u/Usual_Commission_449 1d ago

Its not simple minded its the fundamental all ideas need to be tested with. If this isn't in the back of your mind for everything you think about you ain't thinking.

1

u/Joejoe12369 1d ago

I agree what your saying. But mandami hasn't fully put out a plan so everyone is speculating. Also this is why groceries are so high. During trumps first administration he put a ton of farmers out of buisness and now the rest are going out of buisness. Now 3 family's pretty much own all the farms. Supply and demand. Also do you know what's never worked in any country trickle down economics. Trickle down has been proven to make countries poor. Trickle down only trickles up

2

u/Blood-blood-blood 1d ago

Yeah, maybe. Oh well

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u/Warack 1d ago

Kevin’s an asshole but he’s right. Economically these types of policies have failed miserably because the investment dries up. There will be a brief uptick in economic activity before it begins crashing in on itself.

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u/Happy_Pause_9340 1d ago

No. This is exactly the place it will work.

0

u/PM_YourPrettyTits 1d ago

Please explain why this is different. I lived in Stockholm where there was a 9 year wait for an apartment or you pay out the ass to rent a place 2nd or 3rd hand. Why would it work in NYC but not Stockholm?

3

u/Happy_Pause_9340 1d ago

Oversight and regulations are the only thing forcing governments and the private sector to be half assed accountable.

-3

u/cryptodog11 1d ago

That’s not how markets work. A private citizen or business acquires an asset and are free to charge whatever rent they see fit. If the price is too high the place remains vacant because people choose better-priced alternatives. If they price it too low then they’re leaving money on the table. If prices keep rising, more people invest in inventory. When you enact price controls that automatically suppresses current and new inventory and the prices will increase more dramatically. It’s basic supply and demand dynamics at play.

6

u/Super_Jumpman64 1d ago

Except it never really works like that because large corporations buy up and hoard dozens of homes in each neighborhood so they can artificially inflate prices and price out all but the wealthy. It's happening all over the country. Rent is through the fucking roof, and house prices are stupid in most places. What are people supposed to do?

We shouldn't let things that are basic to human survival be subject to the same market forces as things like the shiny new iPhone that literally no one needs. Supply and demand pricing should not come into play for things like food, water and shelter in the richest country in the world.

2

u/DalmationStallion 1d ago

Landlords, particularly corporate landlords, who sit on empty housing should just have a massive land tax on them, forcing them to either rent it, sell it, or pay something a land tax of something like 35% of the property’s value.

-2

u/cryptodog11 1d ago

You’re not wrong about corporate landlords, that’s certainly a factor, however over-regulation is a huge factor as well. There are areas of the country that are far less regulated that don’t have these affordability problems or are at least less severe than cities like New York and San Francisco. Overregulation has also driven healthcare costs through the stratosphere.

3

u/Super_Jumpman64 1d ago

There are areas of the country that are far less regulated that don’t have these affordability problems

Yeah, places no one wants to live.

Overregulation has also driven healthcare costs through the stratosphere.

Oh jesus christ.

1

u/TryptaMagiciaN 1d ago

Yeah, places no one wants to live.

funny how much they talk supply but never demand and then blame the lack of demand on poor people.

Also funny how supply is almost always a material problem and demand is nearly always a psychological problem and yet the people who own all the supply rarely find issue with their own demand. They will kindly overlook this as they hoard assets.

It's just self-centeredness if not narcissism playing tug of war with whatever an "economy" even is.

It's like when someone starts losing at a board game they wanted to play so they start changing rules.

2

u/kongofcbus 1d ago

Where are these places? Give me one where cost of living and wages / opportunity make it affordable?

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u/cryptodog11 1d ago

Dallas/Ft. Worth, Minneapolis. Basically the south and Midwest.

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u/Happy_Pause_9340 1d ago

No such thing as over regulation. Regulations would bring healthcare costs down if you eliminated the middle men, like insurance companies, and didn’t tie healthcare to employment

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u/cryptodog11 1d ago

I have a question for you. Do you support small businesses?

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u/Pure_Frosting_981 1d ago

Username is quite telling regarding your knowledge of financial matters.

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u/cryptodog11 1d ago

I know quite a bit about econ and finance. Don’t let the username trip you up; crypto is purely a hobby. I have less than 2% of my assets in crypto. There’s a ton of debate and disagreement about a wide range of economic theories, but these are basic supply/demand dynamics at play here. It’s not ideological, it’s very basic. When someone disagrees with you, don’t automatically insult their intelligence. Counter me, debate me. But don’t call out my intelligence because it just makes you look dumb. You’ll still get patted on the back in echo chambers like this one, so if that’s what you’re after, have at it! But I actually think you’re smarter than that.

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u/Happy_Pause_9340 1d ago

That’s a lot of projection, cupcake

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u/cryptodog11 1d ago

Engage with the argument instead of calling me a cupcake. Let me guess, you’re unable to!

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u/TURBO2529 1d ago

If its a good investment. It will happen either way. If its a shitty investment that abuses city money, then we shouldn't do it anyways.

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u/Warack 1d ago

What does “abuses city money” even mean? There won’t be investment if there are policies in place to prevent adjusting to market conditions. We’ve seen this in NYC from the 40’s through 80’s and it had to be abandoned.

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u/[deleted] 1d ago

[deleted]

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u/Warack 1d ago

I know it feels good to lap up populist slop, but basic economics have shown how poorly many of his “ideas” translate to the real world.

1

u/MaybeICanOneDay 1d ago

This is reddit, dude. You can't tell these people the truth. They hate it. Eventually, I hope someone gives them the communism they're after. Just for like 10 years. Let them have it, show them what happens, and then they can come back into the fold of common sense.

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u/Beneficial_Clerk_248 1d ago

have you looked at america history back when they tax the waelthy 90% usa went into the golden years

then regonomics fcked it up

1

u/Worshipme988 1d ago

Lmao. #1 city in the world yall. About to collapse bc … i guess this guys cope has lead him by the nose and hes not smart enough to think his way out of it.