Kevin Ness

L/S TMT, back from a real estate development detour.

[kartik @sathaxe]

To everyone who says that housing is the number one issue in California

Hilton wants to reform CEQA, stop private and union lawsuits delaying projects, enact a 5-year regulatory freeze, and cut fees for developers.

Becerra wants to keep focusing on affordable units, tenant protections, and unions.

You tell me, earnestly, which will produce more housing of all kinds?

[Kevin Ness @kdness]

Alphabet secondary is significant not from a flow standpoint, but from what it signals about the changing tech landscape. Mgmt wasn't sitting there market timing debt vs equity cost of capital as many speculated; that's not how the company thinks. Rather mgmt likely fundamentally believes the long term return of the proceeds far exceeds either funding source cost. In fact equity issuance vs debt capital is if anything more bullish for internal return projections given the higher hurdle. But that one move also reignites an arms race and tech stack disruption fear/risk that otherwise could have stabilized.

[Kevin Ness @kdness]

Mega tech stocks face an equity issuance headwind through YE both from the massive IPO pipeline and the secondary pressure kicked off by Google. The Alphabet issuance is a massive moment in time not to be dismissed.

[Kevin Ness @kdness]

No question @GavinSBaker. Was always a student of the business and industry and a good person to share Q&A sessions with back when I covered telecom for SF Citadel. Druck would be a momentum trading challenge to work for as an analyst.

[Just Another Pod Guy @TMTLongShort]

Who would you rather work for over the next two years if you had a choice - assuming similar comp and location:

[Kevin Ness @kdness]

@mlp_44k @SsCowboy I second this, quality and fair PM is crucial. This really applies to all of investment management, though clearly the stakes are bigger at a short leash factor neutral shop.

[Kevin Ness @kdness]

@SsCowboy I had a positive experience working at Citadel and while I didn't work at BAM, I interviewed with the team and believed them to be a good culture and good people. Grant it this was circa 2010-2015, a different era. You will learn tremendously.

[Kevin Ness @kdness]

@RaminNasibov @elonmusk L.O.R.D.

[Kevin Ness @kdness]

@thomasrice_au @tropicalvalue Hi Thomas, I'm an ex pod investor, many years removed, yet wishing I had my old research budget to fully invest behind agents and ai. What type of token usage ie cost is this persistent analysis agent pulling monthly?

[Kevin Ness @kdness]

@partners_road My father is into extremely old cars, horseless carriage old. I always rib him, why couldn't you have been into early 70s Porsches?

[Kevin Ness @kdness]

@KenjiCapital Transamerica in the wrong place

[Ethan Agarwal @ethanagarwal]

Tom, don’t be this guy.

You’ve led an impressive career investing in ideas and people. Indeed, a long time ago I applied for a job at Farallon.

You understand risk reward and a rising tide lifts all boats.

Don’t succumb to tag line bullshit. Be a leader. Diagnose actual problems and propose realistic solutions.

Anything less is beneath you and beneath California.

[Kevin Ness @kdness]

@jamesonhaslam It's about setting expectations and your WCD IG game is too good

[Kevin Ness @kdness]

@SDMayorsOffice @ToddGloria @sdut

[The San Francisco Standard @sfstandard]

Breaking: Mayor Daniel Lurie’s office has instructed city departments to cut 500 jobs, eliminating at least $100 million in personnel spending.

📝: @FitzTheReporter, @ggreschler https://t.co/E4y2xO48IA

[Kevin Ness @kdness]

@moseskagan My young daughters love the climbing Gym. Teaches resilience, focus, conquering fear, oh and it's fun.

[Garry Tan @garrytan]

“California has the nation’s highest unemployment rate, its highest homeless population, its highest median housing prices, and its highest gas and electricity prices (save for Hawaii).”

[Kevin Ness @kdness]

@t1energy When can I buy residential panels? Southern CA distribution? Thx

[Kevin Ness @kdness]

@jclarkson203 Kuhio?!

[m. stanfield @resetbasis]

I’ve got an idea @HUDgov and @DOGE_HUD should seriously consider.

My team will review all Section 8 contracts and tell you which ones have rents way above market. We’re experts in this.

Over the next five years, HUD has a contractual right to reset 100% of these contracts to market. Billions in savings that can be reallocated to homeless services or other housing programs.

- we get paid 2% of one years savings
- HUD provides us a security detail (people will be upset with us)
- we share the info publicly

I’m 100% confident my team can make a real difference.

[Kevin Ness @kdness]

I live on a street with a "very poor" 28.68 PCI score. While there is little car traffic, the community uses the street as a biking and walking route. The road hasn't been publicly maintained once in its ~70 year history. Street cleaners bypass the street it's too deteriorated for their brushes. What will it take to get this street listed on a future funding and repaving plan?