James Altucher: NYC Is Dead Forever... Here's Why

[Alex Kulak2]

Posted: 8/16/20 at 8:29am

https://jamesaltucher.com/blog/nyc-is-dead-forever-heres-why/?utm_source=email&utm_medium=website-link&utm_term=08142020&utm_content&utm_campaign=NYC&r=ATC&fbclid=IwAR2CTVDbmryjY-wuBDHbhMwNLGntULib7KkNyS9ythcGA4Nwm3Ld9vKD-s0

A friend shared this on Facebook. Thoughts? I'm not a New Yorker, but it feels a little over-pessimistic. Even if it takes months or years for New York to recover, it will bounce back solely based on infrastructure. There's hundreds of theaters, thousands of storefronts, and millions of apartments. The landlords aren't going to collectively just give up and bulldoze the island for a golf course.

[Sutton Ross]

Posted: 8/16/20 at 2:04pm

Yeah, a bit dramatic. NYC isn't the same city as it was in February, and it will take probably about 5 or 10 years for this economy to fully recover. I know many people that have left because without a need to be in the office, without any nightlife or any cultural events to go to, there is no point in being there. However, there is a huge population that simply cannot afford to move, or get out of the city for awhile. It is those people that suffer the most short and long term. Im not worried about my friend in the financial district who pays 4 grand for an apartment and has been kicking it at his beach house in Malibu since March. Like, I don't care if rich people are sad that they cannot have a benefit at their country club this year. 

Poor people, homeless people, victims of domestic violence with nowhere to go, at risk youth, etc. Those are the people I am most concerned about during this pandemic and will continue to suffer the very most. But, NYC is not dead forever, just for the next year or so. 

[sabrelady]

Posted: 8/16/20 at 2:08pm

I suspect he's looking for opportunistic to make money. The more you can run something down the cheaper it gets.

Buffalo was a joke ( committing suicide in Buffalo was redundant) now its having a comeback, same w Detroit, a bankrupt derelict until it too had a resurgence. (YES these took a long time but the cat came back...)

I notice he never mentioned museums.  Sl less than half of the great art in the US is in New York. MOMA will close and send its collections out to the hinterlands? 

Plus all those folks working now in Arizona, Oshkosh etc may find their salaries are less cos high COL of New York won't be factored in.

I can't speak to his bandwidth issue but I suspect it is fixable.

Finally- all this  doom and gloom does not factor in AFTER A VACCINE!!!! Will there be a change in volumes even after a vaccine probably but not to the death knell proportions this lil alte kuker  predicts.

 

 

[FindingNamo]

Posted: 8/17/20 at 12:10am

Michael Musto would like a word with Mr. ... Alltucker, is it?

[SmoothLover]

Posted: 8/18/20 at 10:49pm

I will say the increased gun violence is frightening......

[chicagodannyd]

Posted: 8/19/20 at 10:37am

Ultimately, I believe N.Y. Theatre and NYC will bounce back.  After the nation is vaccinated, people will feel more comfortable to attend stage shows.  And definitely, there will always be interest in seeing live stage shows.  It just may take a year or two.  No pandemic can remove a 100 years of tradition and culture, and art.

Updated On: 8/26/20 at 10:37 AM

[Broadway Joe]

Posted: 8/19/20 at 11:18am

It will get better when we get a new Mayor. It shows how bad he is when the entire city, state and country can all collectively agree about how awful of a job he's done. In these times that's an amazing accomplishment given how diverse people are on so many other subjects.

[FindingNamo]

Posted: 8/23/20 at 9:21pm

Vaccinized? 

It's definitely true that theater and art have become important over 100 years.

[Jordan Catalano]

Posted: 8/23/20 at 9:56pm

Maya Wiley is likely running for Mayor and I’ll 1000% be doing whatever I can to help her get elected.

[SmoothLover]

Posted: 8/23/20 at 11:09pm

The news releases about the continued bashing of subway windows was very sad. Such a waste of money that the system does not have to begin with.....

[uncageg]

Posted: 9/3/20 at 5:20pm

SmoothLover said: "The news releases about the continued bashing of subway windows was very sad. Such a waste of money that the system does not have to begin with....."

The police finally have a person of interest for these bashings. It appears that it isn't the guy whose picture on a subway that they have been showing on the news.