For the U.S. to prosper & lower the cost of living, we gotta make it easier to build the things we need — housing, clean energy, child care centers, transit & so much more. The vetocracy needs to end. We’re doing that work in California. We need to take it national.
“The greatest regret I have is underestimating the value of long term compounding. Capital, friendships, projects, places, all get better with decades. It is entirely what life is about. a few very good things for a long time.” - Will Manidis
New newsletter: HOW THE HOUSING MARKET FOR YOUNG PEOPLE BECAME A 'TOTAL DISASTER'
In 1991, the median age of first-time homebuyers was 28. Now it’s 38. This is the hardest time for young people (defined, generously, up to 40) to buy their first home in modern history.
The vanishing dream of 20- and 30-something homeownership isn't just an economic phenomenon. It's becoming a political centerpiece. Housing affordability is for voters under 40 what protecting Social Security is for voters over 65.
The cities, states, and national parties that figure out how to talk about and ultimately solve this mess to restore housing affordability to Americans under 40 will have a major advantage in the next few years.
A clean CEQA exemption for infill housing just passed the Assembly Appropriations committee *on consent.*
We have a lot more work to do, but things are looking up in California!
SB 79 (Wiener) and AB 609 (Wicks) both passed their final house of origin policy committee today.
These bills are huge.
If they pass, California will become a much more dynamic and affordable state, where entrepreneurs can build the future and anyone can afford to call home.
Thousands, and then millions, of American small businesses, including many iconic brands, will go bankrupt this year if the tariff policies on China don’t change.
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It's exciting to see the public-intellectual drumbeat around "Abundance" manifest in this year's crop of California housing bills.
They're far more ambitious--and promising--than anything I've seen previously. 🧵/17
7. Booking a one-time house cleaner for my home through the Thumbtack integration based on my budget
ChatGPT Operator came back to me with four highly rated options within my price range
Many stories get told about why DoorDash won:
The business school version: they had the right strategy. They launched in the right markets, acquired the right restaurants, and designed the marketplace the right way.
The hustle culture version: they out-executed everyone else. They just shipped faster until they had better selection, a better product, and more reliable delivery.
The financial markets version: they got lucky. Grubhub and Uber were both public and playing with one hand tied behind their back during the most pivotal moment in the fight.
The reality is that all three are true.
Increasingly, success in every competitive market requires the right strategy, rapid execution, and good luck.
You need to be in the right place at the right time, have the right idea, and still run very fast.
Full essay on the story below 👇