Chamath Palihapitiya

I just think that it's going to kill the demand.

I just think that it's going to kill the demand.

Maybe people who already have a home in New York, like Ken Griffin, they probably are just going to suck it up and pay the tax and keep whatever they have.

Maybe people who already have a home in New York, like Ken Griffin, they probably are just going to suck it up and pay the tax and keep whatever they have.

But if you were a person who was thinking about buying a Piatto Terror in New York, there's no way you would do it now.

But if you were a person who was thinking about buying a Piatto Terror in New York, there's no way you would do it now.

Yeah.

Yeah.

Because you don't know what the tax rate's going to be, and it's going to keep going up.

Because you don't know what the tax rate's going to be, and it's going to keep going up.

Yeah, amazing.

Yeah, amazing.

Austin has roughly doubled as a city over the past decade, and yet the rent for whatever, a one or two bedroom apartment's gone down.

Austin has roughly doubled as a city over the past decade, and yet the rent for whatever, a one or two bedroom apartment's gone down.

That's incredible.

That's incredible.

So in other words, if you let people build to satisfy the demand, you won't have this problem.

So in other words, if you let people build to satisfy the demand, you won't have this problem.

I don't think that's going to be good for that city or even the UK as a whole.

I don't think that's going to be good for that city or even the UK as a whole.