Category: Finance

There’s nobody quite like Andrew Yang, the erstwhile presidential phenomenon whose campaign for a universal basic income found an unlikely ally in the Trump White House—and helped lay the groundwork for direct cash payments during the pandemic. He’s a political outsider who loves to be on the inside; a tech cheerleader who worries about artificial intelligence; a progressive who’s not afraid of Joe Rogan; and now a New York City mayoral candidate who’s . . . never voted for mayor. He’s also a serial entrepreneur, with deep ties to the tech community and strong opinions about how the public and private sectors should cooperate to foster innovation. That’s one of Fast Company’ s bailiwicks too, so we decided to catch up with the father of two (and former Fast Company columnist) in New York to discuss the Great Reopening, the future of bitcoin, why Manhattan beats Miami, and the trouble with Zoom. Fast Company: Congrats on the latest poll . Were you surprised at all to be leading the field with 32%? Andrew Yang: I’m excited that New Yorkers are excited. I think a lot of people are frustrated with what’s been going on in the city this past number of months and years. We know we need a different kind of leadership. I’m thrilled that people see that we can do better for ourselves. That’s my main mission, to restart the engine of New York’s economy and get the agencies and bureaucracies functioning at a higher level. Right—the number one thing on most people’s minds right now is the reopening the economy. We’re poised for a massive rebound in economic activity, but there’s a general feeling that the guidance from the government—on schools, restaurants, where and when you can take off your mask—has been confusing and slow. I’ve talked to dozens, maybe hundreds of business owners here in New York City, small-business owners, comedy clubs, restaurants, bars—and they were very frustrated with the operating guidelines and the lack of visibility. Right now there are different restrictions in New York State as opposed to New York City, which I think made sense at a certain point during the pandemic, but it makes less and less sense now, given the expanded vaccination rates and the fact that infection rates are falling. So number one is, can you reopen your doors? Number two, can you manage all of your financial obligations, primarily rent? If you were the average bar or a restaurant, you might owe somewhere between 3 and 10 months of back rent, even if your landlord is cutting you a break in terms of your cash obligations. Read More …