I'm absolutely shocked that venture capitalists' ideas about the transit we need aren't universal.https://twitter.com/FitzTheReporter/status/1117878325744037888 …
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But our public pension funds are not making their expected returns, and so they're actually considering putting even more capital into riskier private equity investments.https://www.wsj.com/articles/calpers-gives-new-private-equity-plan-tentative-thumbs-up-11552939761 …
almost like capital requires the prosperity of some to depend on the immiseration of others to maintain itself!
Unless there was an intention to "replace" public transit and have public money pay for those losses, thus having their cake and eating it.
That comment wasn't like a negative about public transit losing money. Public transit is a public good. Fare recovery rates (excluding some of the newer, major Asian cities) are usually negative in most parts of the world.
I keep trying to come up with a good argument for keeping endowment returns tax-exempt, and all I've got is
you could keep them exempt in exchange for expanding the size of undergraduate class relative to US population growth.... or something like that.
How’s Lyft’s stock looking these days?
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