150 Speakers
New companies, new OLD companies
Golden Gate Bridge
746 feet high
International Orange
$34M to build
$1.2B in today's dollars in the Depression
1.8B cars have passed the Golden Gate bridge
80,000 miles of wiring
Only four years to build
They used the wisdom of crowds
Estimated at $100M to build
Joseph Strauss: submitted bid for $17M
Poet, dreamer,
Greek scholar, Mathematician (fired by worked for 6 straight years for free!)
Irving Morrell, residential architect
Designed bridge towers, lighting, international orange
The deflection theory
Money man
1928 Legislature set aside money for the bridge
$30M in bonds
His commitment
Big men, doing big things
Situation now is equally challenging
Typical of innovations, struggle
Legal challenges
Public boycotted ferries, railroads withdrew legal challenge
Half-way to Hell Club
19 Men fell off bridge into safety nets
Like all innovation, whether we like it or not, there is a DARK SIDE
Some come here to cross-over
It happens all the time
People giving up hope
The Bridge
The #1 place in the World for Suicide
2nd most iconic thing in the world beside the Eiffel Tower
Innovation comes with the Dark Side
Have to continue to innovate
Consequences are very, very real
Take a picture of who you are, search the internet, know who you are
Have to admit them
Do not stop innovating
Constantly innovate
Put a bridge across the Gate
End with a poem Mr. Strauss wrote
The mighty task is done
Not Dark Side
But moral imperative, moral courage
Where is moral leadership in industry
Issue not Dark Side:
But upside down:
Ask them who stood alone while
Where is the real estate market?
Stimulate old truck
Trying all kinds of things
Tax credit worked, now not working
Double Dip? Are we going down again?
Statistic looked like we're recovering
On a horizontal plain right now
Tremendous amount of money on the sidelines
Where are we?
To surprise, answers were 7 on 1 to 10
Reaction
Sales transactions are down dramatically
Best case and worst case
5 to 5.5M in existing home sales
Still have an abundance of vacant homes
Should I invest somewhere outside the USA?
Anyone in this room who will be around in 20 years will view this time as one of the
1.84Trillion in Cash in Corporate America
425M in buyout firms
When that happens there will be job growth, when that happens, housing will rebound
Could be 2 or 3 more years
Tremendous buying opportunities, which is why I am back in the market
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