David Rosenthal: belief

Transcript context

…Yeah, you could probably make that argument. When you look at those, everything is lumped together in the minds of Washington. It's like, you're all just making money. When I say equity is the currency, what I mean is people come here and they actually build things, and the incentives driving how things are built. It's a system that actually works and encourages growth and encourages creation. I think we have to be very honest about that, which is very different than East Coast private equity. It's very different from hedge funds in which that is not what people are focused on. I think one of the greatest tragedies is that we're all lumped together. I think so much of our audience is a complete outsider to Washington. Is it gauche to talk about making money, starting things. Is that looked down upon? I've recently moved to Miami. One of the things that I love about Miami is that there's no shame. I actually think this is one of the big problems of Silicon Valley. Miami, it doesn't matter what you are doing. Everyone is dressed to the nines. It doesn't matter if you're someone who works an hourly job or if you're someone who is a real estate mogul. Who knows? Before all the tech people came in, there were all these kind of weird things that people were doing in Miami, but everyone took pride. It is a culture of being proud of what you have earned. I do think that comes from, it is the city in the US with the largest foreign-born population. A lot of the people who come to Miami have come from countries that have collapsed. They're proud of capitalism. Because of the Cuban population, they're extremely anti-communist. There's just this view that if you work hard, and it's a culture of hard work and it's a culture of hustle, you should celebrate that. I actually think Silicon Valley has the hardest problem with that. That was always stunning to me in Silicon Valley. You don't see the same displays of, we're proud of what we have built. In fact, there are a lot of people in Silicon Valley who build something and then apologize for it. It's like they're ashamed.…

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