James Altucher, ex hedge fund manager turned blogger, wrote about his concerns on the effect of corona virus and rioting on New York economic sustainability. People are leaving in numbers that will add to the economic crisis. James is a New Yorker and loves his city, but in raising the alarm he triggered vitriol from fellow New Yorkers about his article.
Hedge fund managers are attuned to the effect of human behaviour on investments. This insight helps them predict trend outcomes both good and bad. A common reflexive human response to bad news is anger towards those raising the alarm, instead of dealing practically with the potential issue to avert it. Nobody wants to see New York die.
James Altucher reflects on the response to his article published in linkedin..
Two weeks ago, I wrote a viral essay on LinkedIn, which said that due to the Coronavirus’s devastating effect on the city, NYC as we know it is dead, forever. A few days later, I woke up to find that the piece had received intense criticism from the likes of Jerry Seinfeld, who penned an op-ed against me in the NYTimes, Mark Cuban, and even the mayor himself Bill DeBlasio—as well as millions of others.
While I included lots of factual data to back up my proclamation, outlining everything from the city’s current real-estate crisis to a rise in unemployment and loss of culture, many were quick to assume I merely had given up on New York City altogether. This is far from the truth!
Watch this video to learn more about why I wrote this piece, what that crazy experience was like, and what I believe needs to happen to save the New York City I can assure you I love so dearly.
I believe needs to happen to save the New York City I can assure you I love so dearly. Link to original piece: https://www.linkedin.com/pulse/nyc-de…
Link to Seinfeld’s NYTimes Op-ed: https://www.nytimes.com/2020/08/24/op…
My Seinfeld rebuttal: https://nypost.com/2020/08/24/sorry-s…
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.