How knowledgeable is President-Elect Trump about technical aspects of development?
At a ULI breakfast this morning, a panelist declared "Trump is not a real-estate guy; he's a marketing and reality-show guy" Do you think that's true? Do you think Ivanka and Don are really involved in the acquisitions process and follow the market?
Sounds like ULI had a butthurt liberal panelist.
Well he's an executive so everything is at a 10k view. To me it's like asking "How knowledgeable is Jamie Dimon on the technical aspects of loan administration"
How would any of us know?
As to that panelist's point, I think that in recent years Trump has certainly been more of a branding and reality-show guy, but he had years of real estate before that.
Now stop making me defend Donald Trump
I mean, honestly, who cares? Dude's made a lot of money. Probably has a fair income from the properties he has. He's also had success more recently with licensing his name to various things both in real estate, fashion, whatever. At the end of the day, I don't think anybody is really going to argue that he's a legitimate billionaire and that he made the majority of that money in real estate. Does it really matter if he crunches spreadsheets and shit? When he started excel wasn't a thing. Shit they didn't even have computers on desks back then. The fucking Beatles were still a band. Like I'm sure most other very seasoned developers at the top of the foodchain, when he started he was much more savvy and in the weeds on things than he would be now. Guys at the top, running the companies, they don't need to care about nitnoid details. They have people for that. Steven Ross isn't staring at spreadsheets every day either, btw.
Well I mean the guy got his start in real estate and it was what propelled his brand in the first place. I would argue his marketing has done him more harm than good apart from his reality show which was very successful.
I would assume that most executives of large firms don't work or look at the model. Once you are involved in a certain amount of transaction volume you can tell if a deal is going to work by simply asking a series of questions regarding the market, transaction terms, etc.. The older guys don't have the same analysis paralysis issues as many our age.
Pretty ignorant to say. Guy is a billionaire. He may not know how to build a model, but the dude can probably sell a peanut butter sandwich in a steakhouse.
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