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The Rollins Group LA
Let housing rise from the empty offices and malls
Jon Evans@rezendi / 12:00 pm PDT • May 3, 2020
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Image Credits: MysticsArt (opens in a new window)/ Pixabay (opens in a new window)under a Pixabay License (opens in a new window)license.
Jon EvansContributor
Jon Evans is the CTO of the engineering consultancy HappyFunCorp; the award-winning author of six novels, one graphic novel, and a book of travel writing; and TechCrunch’s weekend columnist since 2010.
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It’s hard to work out just how different pre-COVID-19 and post-COVID-19 world will be, because it’s changing so comprehensively. Consider movie theaters. The first-order effect seems obvious: they’re doomed! Even after they reopen, they can’t make money with 50% of their capacity. How will they pay their rents?
Wrong question … or, more accurately, right question, but wrong scale. Yes, AMC and co. will probably go bankrupt, and in a just world their shareholders will get wiped out and their bondholders will take a haircut — that’s capitalism, baby, or at least it should be.
CNBC
✔@CNBC
The U.S. shouldn’t bail out billionaires and hedge funds during the coronavirus pandemic, Social Capital CEO Chamath Palihapitiya says. “Who cares? Let them get wiped out.†https://cnb.cx/2Rpmjkh