Hi @ZohranKMamdani, I did some math for you.
Grocery runs on 1-3% margins. You’re promising 30% off. That gap doesn’t vanish, taxpayers cover it.
Per store: $5.4M/year in sales, but a 30% discount means giving up $1.6M in revenue, a $1.5M annual loss, per store.
Across 5 stores: $7.5-8M/year in ongoing losses, plus the $70M already approved to build them, plus zero rent and zero property tax.
Total cost to taxpayers, year one: about $78 million and then a permanent tax year after that, forever. And that’s assuming government does everything perfectly and tell me the last time that happened in the history of humanity.
And then you compete with private bodegas, small businesses paying full rent and taxes, run on the same razor-thin margins.
Subsidized city stores selling 30% below market could push 10-20 bodegas citywide toward closing.
This isn’t affordability. It’s a tax hike disguised as a discount and a private business killer affecting mostly hard working Hispanic immigrants just trying to do the right thing and make a living.
Shameful!
Detroit-based driver’s education instructor posted a video from one of his classes.
If you didn’t see it with your own eyes, you wouldn’t believe it.
WTAF?!
They thought they could play a “No D” version of the All Star game like the NBA does but all it did was expose the very low level of actual offensive abilities possessed by most of the league.
When the Sixers lose 3 in a row & the Philly crowd start booing them so Bron throws out a passive aggressive tweet and Jaylen brown starts talking bout Nick Nurse on his twitch. I’ll be there
I am working on a demo for next week and have never been more excited about what we are doing at Palantir.
Absolutely wild the pace that we are moving, I literally learned about 3 new products in the last 2 days and they are blowing me away. FDEs built these products at the edge and I am just finding out they exist. That is FDE'ing.
Seeing the reality of how this compounds because there is no friction, there is no long PM process or approvals, there is only delivering for customers, not next week, not next month......NOW.
Fresh off a title, Deuce McBride had some thoughts on why more teams don't win:
"If more guys bought in and understood their role, the NBA would look a lot different. It's the NBA's fault, we reward guys that lose and pay guys that lose, truthfully."
(H/T @MrBuckBuckNBA )