We've built a system that allows incumbent land owners to appropriate almost all land value gains in CA, whether https://twitter.com/pmarca/status/738057040153583616 …
landlords and real estate developers are not the same thing! They are different constituencies!
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I used "and". Both groups have seen massive increases to wealth but you rarely write about THEIR subsidies.Let's fix those 1st
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the property owners basically 4-5X-ed the real estate developers and they didn't do anything except sit there.
End of conversation
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