Jason Calacanis on CNBC July 7th, 2020: Commercial Real Estate Collapse, Tech vs. Media & more | Summary and Q&A

TL;DR
Angel investor Jason Calacanis discusses the impact of remote work on commercial and residential real estate, the rise of retail investors, the profitability of tech companies, and the role of media in covering the tech industry.
Key Insights
- ๐ฆ Remote work has caused a significant shift in the real estate market, with commercial and residential property values being affected.
- ๐จโ๐ผ Investments in travel, hospitality, and small businesses have decreased, while investments in technology companies have increased.
- ๐ฎ The rise of retail investors and platforms like Robinhood has created a surge in investments in technology stocks.
- ๐งโ๐ป Tech companies like Uber are expected to become profitable once consolidation occurs in the industry.
- ๐งโ๐ป There is a divide between the tech industry and the media, with tech companies feeling unfairly targeted by negative coverage.
- ๐ There is a growing belief among younger journalists that capitalism is detrimental to society, which creates tension between the tech industry and the media.
- ๐งโ๐ป Despite criticism, tech companies continue to innovate and provide valuable products and services.
Transcript
Read and summarize the transcript of this video on Glasp Reader (beta).
Questions & Answers
Q: How has remote work affected the demand for commercial and residential real estate?
Remote work has resulted in a decline in commercial real estate demand as people work from home. Residential real estate sales in major cities like San Francisco have also decreased significantly.
Q: Where are people investing their money in the current economic climate?
Investors are increasingly putting their money in technology companies such as Disney, Google, Facebook, Netflix, Uber, Tesla, and Square, which are seen as safe bets with long-term growth potential.
Q: Will remote work continue to be the norm even after the pandemic?
According to Jason, remote work will have a lasting impact, and employers will find it difficult to get people back into offices. Employees are now realizing that work can be done from anywhere, leading to a shift in work culture.
Q: How will smaller startups survive during this difficult time?
Small startups have shown resilience and the ability to adapt quickly. Some have experienced revenue growth during the pandemic, while others have received government assistance through programs like the PPP loans.
Summary & Key Takeaways
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The COVID-19 pandemic has led to a shift in work culture, with many companies allowing employees to work remotely. This has caused a decline in commercial real estate demand and a decrease in residential real estate sales in certain areas.
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Travel, hospitality, and small businesses like restaurants have been severely affected by the pandemic, with investments in these sectors redirected towards technology companies.
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The increase in retail investors and the popularity of platforms like Robinhood have contributed to a surge in investments in technology stocks, creating a "perfect storm" for the tech industry.
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