AI founder breaks down how ‘many places are doomed’ but others will be ‘the most valuable asset class in the world’
Dr. Parag Khanna
Dr. Parag Khanna
Founder & CEO of AlphaGeo, Strategic Advisor, Bestselling Author, Global Traveller, TED Speaker
At an estimated value of over $300 trillion, land and real estate remain the world’s most valuable asset class yet it is directly exposed to climate change and demographic decline. As Khanna noted in his presentation to the Fortune Global Forum in Abu Dhabi, real estate is by definition “trapped and immobile.”
Dear Dr. Khanna, I don't want to put cold ice on your flaming forecast, but, It is pure propaganda to say Phoenix doesn't have the semiconductor talent, I worked down in Tempe, AZ at the Motorola Semiconductor Fab (changed name to Freescale upon my arrival working there from 2004-2005). Intel is building new facilities either there or in Texas and already has the largest Fab in Chandler, AZ. As for filtered water for semiconductor manufacturing, the desert is safe and cheap to pipe it safely through the desert, and TSMC cut a deal to obtain it already. I knew about this plan for TSMC in 2017 to build a Fab in the USA, the original plan was to build a facility in Everett, Washington next to Boeing, but the Washington State Office of Trade and Economic Development dropped the ball. TSMC has a small facility in Vancouver Washington, obviously because of cheap energy and plenty of water resources. Nope, WA State simply dropped the ball and Arizona pitched well. Who needs the Fab more than the World's Cloud Central for data centers of Amazon, Microsoft, IBM, Google, and Apple, all have data centers in WA State. Back in Arizona, the plan goes live in 2024, Phoenix will be nicknamed "Little Taipei" Karl Weaver 魏卡爾