New York-The Investment Wasteland
Liberty in Chains

New York-The Investment Wasteland

Enough with the tired old trope that New York is the center of the investment universe! This played-out narrative no longer reflects reality. Let's ditch the groupthink and acknowledge the ugly truth: New York is now hostile territory for investors and wealth creators of all stripes. As a born-and-bred New Yorker, it pains me to say this, but today's New York is an abysmal hellscape for investors and businesses. The New York I once loved has devolved into a cesspool of graft, government overreach, dangerous streets and anti-capitalist policies that would make Marx blush.

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Make no mistake, New York has screwed the golden goose with Kafkaesque taxes, regulations, and anti-business policies. The smug political class has shown outright contempt for capitalism and individual success. Leaders pander to their radical base by vilifying corporations, entrepreneurs, and anyone with a net worth over $10. Clueless bureaucrats impose mandates that crush innovation and drive away talent. This supposed progressive utopia has become an inhospitable wasteland for the engines of growth.

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And don't get me started on the banana republic judicial system. Rogue judges and overzealous DA’s disregard the law to score cheap political points. Businesses now face show trials, absurd verdicts, and billions in fabricated damages. The courts are weapons deployed by power-hungry officials to shakedown disfavored industries and individuals. Lady Justice isn't blind in New York - she peeks out to see your net worth and political affiliations before rendering "justice."

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With this anti-business circus, New York is waving the white flag in the competition for investment and human capital. Meanwhile, thriving pro-growth states like Texas, Tennessee and Florida roll out the red carpet. Investors are flocking to cities like Austin, Miami and Nashville, which offer low taxes, sensible regulations, and fair courts. Heck, at this point just about any location is more attractive than New York.

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The jig is up. Savvy investors must escape New York's toxic environment. The smug politicians have killed the goose - it's time to find a new nest. New York's legacy is history. Only fools keep pumping capital into this anti-capitalist abyss.

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As a born-and-bred New Yorker, it pains me to say this, but today's New York is an abysmal hellscape for investors and businesses. The New York I once loved has devolved into a cesspool of graft, government overreach, and anti-capitalist policies that would make Marx blush.

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Make no mistake - power-drunk officials have slaughtered the golden goose without a shred of competence or common sense. Psychotic taxes and regulations crush any entrepreneurial spirit. Demented leaders spew hatred for corporate success and individual wealth creation. Out-of-control agencies strangle businesses in red tape to appease their rabid socialist base. Clueless bureaucrats impose nutty mandates unhinged from economic reality.

But even worse is the banana republic judicial system now weaponized to mug disfavored industries and high-profile targets. Judges ignore the law and constitution to do the bidding of corrupt officials. Businesses face kangaroo courts, ridiculous judgments, and extortionist damages conjured out of thin air. Lady Justice in New York keeps her blindfold in her pocket to check your net worth first.

New York's dysfunctional dystopia drives away investors and talent. Meanwhile, thriving states like Florida, Texas and Tennessee embrace innovation and growth. Cities like Miami, Austin and Nashville now offer safe haven for capitalism, replacing New York as beacons of opportunity.

As a born New Yorker, it pains me to say it, but this once-great metropolis has become an anti-business abyss hostile to economic freedom. New York's legacy is history. Savvy investors should escape New York's toxic climate before their capital is consumed by this anti-capitalist cesspool.

Nicolette Yearde, EA, MTax, RSSA

Tax Strategist | I help Cannabis businesses reduce their taxes and maximize their profit margin. #CannabisIndustry

1 年

Interesting perspective, Stanford! Your insights on the challenges in New York City and State for investors and entrepreneurs shed light on the importance of considering alternative markets for wealth creation. Looking forward to delving deeper into your contrarian views.

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Will Reese

Sr. Production Engineer at Shell, Opinions Are My Own

1 年

Very sad to see the iconic city and investment capital of the world go this route. I started to see the writing on the wall for the city & state in 2018 when New York's AG sued ExxonMobil for climate change. Regulatory burden with frivolous lawsuits and high taxes continued to go along with high crime. Since then, Amazon backed out of NYC and now billionaires are on the air pounding on the table saying do not invest in NYC. What a horrible way to encourage capital to be invested in New York.

Susan Teichman

Investor and Business Consultant/M&A Advisor/Business Broker

1 年

Sad. As a born and bred New Yorker myself, I feel your pain and shame.

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Dan Lett

Providing global logistics and supply chain solutions

1 年

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Dan Lett

Providing global logistics and supply chain solutions

1 年

Money or more specifically wealth creation - will always flow to where its treated well Politicians in NYC and NY State - have and do - take this - to this point - status quo - of being the financial capital of the US and the world for granted and for the reasons stated in the article - no longer see or feel NYC or NY State - as a place that is favorable to remaining in either the city or state The latest ruling in the Trump case is the nail in the coffin - where many leaders - who may have been hedging about making a move - will leave - maybe not today - maybe not tomorrow - but leave they will - as soon as its practical to do so

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