L2inc.com video above published Feb 8, 2018: What does market failure look like? The sh*tshow circus that is Amazon's HQ2. Watch to find out which city Prof Galloway thinks will win the contest.
Source:
(4:15): “Take a Tour of Amazon CEO Jeff Bezos’ 5 Giant Homes and Thousands of Acres of Land Across the US,” BusinessInsider.com, October 2017.
Editor's note:
- DomainMondo.com Jan 22, 2018 (Amazon $AMZN HQ2: 50,000 High-Paying Jobs, $5 Billion Investment): "The dark horse candidate in the above list is Miami--most of its bid details are being kept secret ... The Miami area has long been favored by transplants from the northeast U.S., as well as Europeans and Latin Americans and now, increasingly, Chinese--Why Chinese Investors Love Miami, The 'Hong Kong Of The West' | Forbes.com. And Miami has one advantage the others don't: Amazon founder Jeff Bezos lived in Miami when he was younger, graduating as class valedictorian from Miami Palmetto High School in 1982."
- Prof Galloway Feb 8, 2018 (video above at 2:46): "Miami a dark-horse here. Why? Because anyone who lives in Seattle probably wants to spend more time in Miami."
Transcript (auto-generated via YouTube.com):
00:00 [Music]
00:01 what does the neon red flag of market
00:04 failure look like it looks like this
00:06 show circus that is hq2 for amazon where
00:11 mayors and municipalities drop their
00:13 drawers trying to prostrate themselves
00:15 to the seattle giant in hopes of them
00:18 choosing their City and detonate a
00:21 prosperity bomb in town square what do
00:23 we have we have 20 cities competing for
00:25 Amazon's second HQ Amazon's worship by
00:29 consumers and investors has resulted in
00:31 a frenzied pitch among municipalities
00:33 that highlights the perversion of our
00:35 nation at the hands of big tech in a
00:37 genius move Amazon has created an
00:39 offline algorithm that pits cities
00:40 against one another occupies the
00:43 headlines of almost every major
00:44 newspaper and news program while soaking
00:48 taxpayers let's be clear this is a
00:50 zero-sum game every dollar the Toronto
00:53 puts up in terms of a subsidy or a tax
00:55 credit is taking money out of the hides
00:57 of school districts and Fire
00:59 Department's in another city this is
01:01 just plain gross so let's start the
01:04 competition let's see who wins
01:07 Amazon HQ to
01:09 [Music]
01:13 all right so here we go Amazon HQ to
01:17 Circus Nashville Tennessee a super cool
01:21 place great for young people absolutely
01:23 no chance
01:25 Boston come on we're sick of Boston all
01:28 the universities the sailing whatever I
01:30 just don't see Jeff Bezos deciding to be
01:33 in Boston Pittsburgh Pittsburgh deserves
01:36 to get this Carnegie Mellon one of the
01:38 best universities in the world right now
01:39 a city on the upswing it has absolutely
01:42 no chance Atlanta another great city
01:45 fantastic universities Emory Georgia
01:47 Tech should be a likely winner with in
01:50 fact their airports but again I don't
01:52 think mister Bezos wants to live in
01:53 Atlanta Los Angeles what's the point of
01:55 a second HQ if you're gonna be on the
01:56 west coast Austin Texas this has an
01:59 outside shot a fantastic University but
02:02 again geographically disadvantaged
02:04 because it's not east of the Mississippi
02:06 Dallas Texas this is a tough one
02:08 just when you thought you were in Austin
02:10 and you thought life couldn't get any
02:11 worse you get transferred to Dallas no
02:13 chance Raleigh North Carolina
02:15 fantastic universities a great place to
02:18 live doesn't have any chance because of
02:19 the whole gender bathroom thing Denver
02:22 Colorado I don't know if the Bezos
02:24 family skis but I don't see this as
02:26 having much chance Columbus Ohio
02:28 did I mention Ohio New York City let's
02:31 hold on to this one DC let's hold on to
02:33 that Newark New Jersey let's hold on to
02:35 this one Philadelphia let's put that in
02:38 the New York file Montgomery County
02:40 Maryland that goes into the DC pile
02:42 Northern Virginia we're putting in
02:43 another pile Indianapolis Miami a
02:47 dark-horse here
02:48 why because anyone who lives in Seattle
02:50 probably wants to spend more time in
02:52 Miami
02:53 Toronto Canada now this this is
02:56 hilarious as Amazon sees and is fearful
02:59 rightfully fearful of regulation they're
03:01 going to locate in a city that has no
03:03 representatives in Congress this is in a
03:06 word ridiculous in Chicago despite in
03:11 the kneepads the willing to give up
03:12 taxation to Amazon basically said we
03:14 give up Amazon you now have taxing
03:16 authority and license over how to
03:18 allocate civic funds Chicago you don't
03:20 deserve it so it all comes down to two
03:23 locations it's either going to be the
03:24 metro area of New York or the Metro
03:26 area of DC there are only two criteria
03:30 here the first is where you can attract
03:32 and retain the best talent in the eyes
03:34 of Amazon the best talent is a 24 year
03:37 old ee grad from MIT this individual
03:40 isn't concerned with cost of living cost
03:41 of living only matters when you're in
03:44 your 30s when you begin collecting dogs
03:45 and kids Amazon doesn't care about those
03:48 individual middle managers they only
03:49 care about young people who are willing
03:51 to pile into five bedroom apartments in
03:54 Gowanus or Adams Morgan this will be New
03:56 York or it will be DC and the only
03:59 criteria that really matters at the end
04:01 of the day is where again a 53 year old
04:04 billionaire the wealthiest man in the
04:06 world wants to spend more time and where
04:08 does Mr. Bezos already have homes
04:10 already have a toothbrush which ie means
04:13 he likes these places you guessed it
04:15 DC and New York Bezos the thing to do
04:19 here is to pick the city now stop this
04:22 ridiculous process and announce you're
04:24 gonna reinvest those proceeds back into
04:27 the local community this is a show
04:30 however it's the wealthiest man in the
04:31 world I see good in you come to the
04:35 light Jeff to the mayor's band together
04:38 and do something good for each other and
04:40 refuse to take part in this ridiculous
04:43 process Mr. Bezos come to the light come
04:47 to the light
04:54 No
04:55 [Music]
Song: Stevie Nicks & Tom Petty, Stop Draggin' My Heart Around | YouTube.com
