9 ms·
Silicon Valley Is Panicking About Zohran Mamdani. NYC's Tech Scene Is Not
- Terr_ 1y ago> Silicon Valley In this case, does that mean something more like "an exclusive clique of lucky tech-bros that converge on political views in their private channels"? As a larger region/industry, I can't see why SV would "panic" about a city mayor of a different city in another state thousands of miles away, no matter how populous the city is.
- mlinhares 1y agoIts just a bunch of people that see "socialist" and panic.
- code_for_monkey 1y agothey dont even know what it means, its just the big scary word.
- lazyeye 1y agoEither that or they understand exactly what it means, the actual reality of it as compared to the "sounds nice in theory..."
- cosmicgadget 1y agoWhat's the reality of having a mayor who is described as socialist?
- lazyeye 1y agoWell I guess he is "described" as a socialist in the same way the sky is "described" as blue. Your question is easy to answer...look at all of human history and around the world right now to see what you get when the far left gets their hands on the levers of power.
- shadowgovt 1y agoIn the US, "socialist" describes the people supporting Medicare for All and the Green New Deal. So in the US, socialism would be a net positive.
- archagon 1y agoI see European quality of life, not some imagined demons.
- Terr_ 1y agoYeah, we were plagued by [checks notes] the New Deal followed by multiple decades of American prosperity and the growth of the middle class.
- shadowgovt 1y agoOne of the more interesting parts of that story is that in that time, the fascists actually tried a takeover of the US government, executing on a plan to sideline the President and replace him with a shadow government. Fortunately, they failed. They tried to recruit a populist veteran into their ranks who had no particular love for a government that had abused its World War I veterans... But had less love for a bunch of (essentially) early-twentieth-century technocrats that had profited off the sacrifices of the veterans. He refused to keep the conspiracy and blew the lid off it, and his reputation was both public enough and spotless enough that the conspirators couldn't either silence him or tarnish him. Wikipedia overview is here: https://en.wikipedia.org/wiki/Business_Plot https://en.wikipedia.org/wiki/Business_Plot There are better scholarly sources for the details, but an entertaining source for a summary is here: https://podcasts.apple.com/us/podcast/behind-the-insurrections-the-business-plot-when/id1373812661?i=1000507699889 https://podcasts.apple.com/us/podcast/behind-the-insurrectio... (The conspirators were never prosecuted. One hypothesis as to why is that Roosevelt saw an opportunity and co-opted the plot: some of his New Deal policies were facing pushback and he might have put on the table for the conspirators "You can dodge a treason trial if you just back the new policy with your capital and your political will"). (p.s: I probably shouldn't extrapolate this historical anecdote to the modern era, but this story does give me reason to wonder if a rule like "In the industrial era, massive inequality due to under-regulated capitalism leads to attempts at reform, and those attempts breed counter-reform in the form of fascists and their sycophants formed by those who perceive they have the most to lose in reform..." might hold water).
- lwansbrough 1y agoThat seems like a reductive defence of a platform that is pitching rent control and socialized housing without addressing underlying demand. Which is basically the recipe the entire western world has used for half a century and has resulted in the worst housing price inflation in history. The hard truth is that New York isn't even remotely dense enough for the demand. The entirety of lower Manhattan from Canal St. to midtown is "low" density. As is everything above 59th. And this is codified. So no wonder NYC housing prices are out of control. NYC should look like Sao Paulo based on demand.
- ericjmorey 1y agoHe's been very clear about addressing underlying demand through increased supply.
- wat10000 1y agoI imagine that is indeed what it means. It's probably like using "Washington" to describe the higher-ups in the US government. It doesn't really refer to the ordinary people who live there.
- jerlam 1y agoThe "panicking" people mentioned in the article all seem to be more politically oriented than tech. No one thinks Linda Yaccarino is a tech-bro or in Silicon Valley.
- ModernMech 1y agoI'll break it down for you. For a long time, neoliberals like Pelosi and Chuck Schumer have run the Democratic party. They have enjoyed soaking up the progressive votes from the more left parts of the party, but they have done everything possible to prevent those elements from rising too high in the power structure. You saw it in 2016 when the party leadership coalesced around Hillary to nudge out Bernie, and again in 2020 when they did the same with Biden after Bernie won Nevada. Neoliberals and the left have a lot of tension. The left believes that liberals, due to their affinity for corporations, will side with fascists over socialists when it comes time to choose sides. To date, liberals have proven that correct. The result has been for my lifetime that no matter which party is in power, corporations are treated favorably. But times are changing. The neoliberals are getting old, and it's time for them to retire and pass the torch. My whole life, I'm 40, Democratic leadership have been pro corporation liberal boomers: Clinton, Gore, Obama, Biden, Pelosi, Schumer... they held onto power as long as they could, but time is ticking and it's time for millennials to takeover. And millennials are decidedly less pro corporation. We are not like our parents, we are not going to treat corporations like our parents did. For my whole adulthood, we've been told by the boomer generation that our ideas about society and governance are not good, and progressive ideals are unelectable. AOC began a wave of congressional elections that proved them wrong, at least for local congressional elections. Then we started to see rising stars like Buttigieg get top leadership positions in government. Now, Mamdani represents the next milestone -- a progressive millennial at a high executive position for a huge city like NYC. So that's what this race is about and why it has national implications. It's progressive versus neoliberal, and if the progressive wins, it's going to be harder in the future to claim that progressives are unelectable. If he (god forbid) ends up doing a good job, then it's going to be harder to claim progressive policies are wrongheaded. It's also millennial versus boomer. Cuomo and Adams are both boomers. It's probably not lost on a lot of people that if they lose, it might be the last time a boomer will ever be elected as Mayor in NYC. Mamdani's election would really be the end of the post 9/11 era for New York and the start of something new for the city. So why is SV anxious? Mamdani is a harbinger for a new age. It means the neoliberal boomers are going to the wayside, and the progressive millennials are coming to power. Which, if you listen to what they have to say about billionaires, might make you nervous if you're a billionaire.
- 1y ago
- grafmax 1y agohttps://archive.ph/mTmBP https://archive.ph/mTmBP
- techpineapple 1y agoIt's a funny ideology that's like "We're going to end scarcity and implement UBI, but also, be scared of socialism."
- mattnewton 1y agoTwo separate sets of people maybe; I think this article is using "silicon valley" to talk about a small (but very influential) group of very wealthy investor types, and "new york tech scene" to mostly talk about NYC founders.
- next_xibalba 1y agoA more honest way of writing this might be ”we’re going to test UBI because it’s untested, but Mamdani is scary bc rent control has been shown over and over again to be bad for cities.”
- code_for_monkey 1y agorent control is a huge part of New York City, and has been around for ages. Hasn't been so bad for it, last I checked city is still doing pretty good.
- fragmede 1y agoFinding an apartment in NYC is still terrible but we don't have a way to duplicate the Earth and remove rent control and re do the last 50 years. If there were no rent control, who's to say how things would look like today? $500/month studio apartments in mega highrises because we also deregulated zoning and housing regulations in this hypothetical.
- techpineapple 1y agoI don't think that Silicon Valley's / NY Tech's primary concern about Mamdani is rent control. You think NY Tech CEO's are pro rent control for a reason Silicon Valley CEO's aren't?
- the_gastropod 1y ago
- stretchwithme 1y agoI live in Silicon Valley. I don't notice any panic. He's terrible though. Is that "panic".
- code_for_monkey 1y agowhats the matter californian, scared of a little wealth tax?
- stretchwithme 1y ago[flagged]
- karmakurtisaani 1y agoThis is so vague that it makes me believe you know even less about him than me, and I've barely heard of the guy!
- antifa 1y agoEnough about Trump, this thread is about Mamdani.
- fragmede 1y agoGiven that California's top tax rate is 13.3% to New York City's 14.8%, I'm not sure whos supposed to be scared.
- wat10000 1y agoYou're thinking of income tax. Wealth tax is a tax on, well, wealth, rather than just on what you earn. I don't think any US jurisdiction currently has a wealth tax.
- sundaeofshock 1y agoProperty taxes - which exist in all 50 states — are a wealth tax.
- code_for_monkey 1y agoZohran's run one of the smartest, most focused campaigns Ive ever seen. Honestly at this point his competition is in a race to the bottom, I'd say most NY'ers, even the millionaires, like him. It seems most of the people with issues with him are billionaires or people that live in the suburbs.
- toomuchtodo 1y ago+1. Philanthropist Elizabeth Simons, the daughter of Renaissance Technologies founder James Simons, gave $250,000 to a super PAC supporting Democratic mayoral candidate Zohran Mamdani last week. It's nice to know there are some decent wealthy people out there still.
- code_for_monkey 1y agoI think a lot of people in the 'less than a billion' range probably understand that raising the floor of the quality of life in the place they live is a net boon for everyone and that they wont really miss the extra couple thousand a year they pay in to make that happen. The problem really always seems to be the ultra-hyper-mega-wealthy.
- aaron695 1y ago[dead]
- mattnewton 1y agoI think that this is actually separate classes of people. This article is using "silicon valley" to talk about a small (but very influential) group of very wealthy investor types, and "new york tech scene" to mostly talk about NYC founders and not investors. Plenty of finance guys in NYC are very upset about Mamdani's primary win. I'm a silicon valley founder but definitely not investor and I'm quite optimistic about Mamdani's approach to measuring where problems are and then pitch complicated fixes in a way that can be understood by average voters. The "socialism" label doesn't bother me. I know a lot of people in silicon valley rank and file engineers and technical founders who think similarly privately.
- hello_moto 1y agoIt's the elite billionaires that are afraid because they want to keep their place at the top with minimum effort. Their assets continue to generate generational wealth and once that concept is taken away, they lost the only leverage for power: wealth.
- linotype 1y agoI don’t think it’s possible to be more insufferable than the All-In gang (David Sachs, etc), even Friedberg has gone anti-science (Natural gas? Really) and MAGA. Calicanis moved to Texas. These aren’t Silicon Valley people.
- __loam 1y agoIt's all well and good to deny that this group represents SV, but I do think they're more representative of the leadership class than most would like to admit. They were among the first people to call out that layoffs were coming. Even if their reasoning was bad, they're well connected enough to understand the vibe among the wealthiest people in the area. Within two years of that prediction, and after Musk had laid off 80% of Twitter, hundreds of thousands of tech workers had lost their jobs. Even if the podcast makes it obvious that these men are clueless dilettantes, they were still lucky enough to have invested money into the right companies at the right time. They are well connected and rich. They're part of the private group chats that people like Peter Thiel and Marc Andreesen are using to shape the vibe, and like it or not, people like this have a lot of influence over the business culture in the valley.
- davidivadavid 1y agoWhat's most puzzling to me is how at this point a larger part of SV hasn't distanced itself with All-in Podcast-adjacent people a lot more vocally. I think the lasting power of that region hinges on some important voices doing that sooner rather than later, because they're actively damaging the whole brand of SV at this point.
- __loam 1y agoYeah it's weird that people who agree with each other don't distance themselves from each other.
- davidivadavid 1y agoEveryone in Silicon Valley agrees with the All-in Podcast clowns? Nah. PG himself has had beef with David Sacks. It's just surprisingly quiet.
- biophysboy 1y agoBy silicon valley, they mostly mean the usual suspects (VC loudmouth posters like Maguire), whose opinions can be dismissed as tedious noise. I found this bit telling though: > A handful of questions focused on how a Mamdani mayoralty would affect the tech industry. Borthwick says he asked Mamdani how he would respond to the risk that artificial intelligence poses to jobs—in particular, entry-level white-collar jobs—over the next several years. “I'm kind of amazed that this has not become already a campaign issue,” Borthwick says. He says that Mamdani “admitted that this hasn't been a focus of the campaign, but would need to be a focus if he was elected.” But overall, Borthwick didn’t feel Mamdani’s answer was specific enough. I continue to be amazed by how many tech-oriented people assume this possibility is a matter of when, not if. What evidence is there that it has displaced workers? Competence on benchmark tests does not imply competence at creating complete solutions for complex, bespoke systems. These sci-fi speculations increasingly feel like self-absorbed delusions of grandeur.
- bestouff 1y ago> Gemini cofounders Tyler and Cameron Winklevoss, Palantir cofounder Joe Lonsdale, former X CEO Linda Yaccarino, Coinbase CEO Brian Armstrong, and Y Combinator president and CEO Garry Tan have also posted about Mamdani with some combination of anger, fear, and dread since his primary win. Yes, Garry Tan's message is disappointing: https://archive.ph/o/mTmBP/https://x.com/garrytan/status/1937875062964854962 https://archive.ph/o/mTmBP/https://x.com/garrytan/status/193...
- __loam 1y agoI for one am shocked that the man responsible for one of the more visible apparatus for neoliberal capital allocation, one responsible for such luminaries as doordash, with which you can rent a poor person to bring you treats, has some shitty opinions about someone who actually wants to improve his community.