Tech investor David Friedberg says it's wrong to assume Zohran Mamdani's city-run grocery stores will 'radically fail'
Venture capitalist David Friedberg is worried that New York's city-run grocery stores will catch on.New York Mayor Zohran Mamdani has pledged to establish five city-run grocery stores.Friedberg said he expects the stores to be "wildly popular" initially.Venture capitalist David Friedberg says critics shouldn't write off New York Mayor Zohran Mamdani's city-run grocery stores."Everyone's got it a little bit wrong in assuming that this thing is going to radically fail," Friedberg said during a recent episode of "The All-In" Podcast, which he cohosts.Friedberg said, "It's a sad state" that the government-subsidized grocery stores, one of Mamdani's core campaign promises, will likely come to fruition and spur similar efforts elsewhere when people see the stores in action."I think that these things are going to create a radical spectacle, an exuberance for socialist policies that's going to kind of light a fire for socialism around the country, unfortunately," he said. "Because at the end of the day, no one has to pay the bill, because the bill doesn't come due for some time."Mamdani's grocery plan has been heavily criticized.
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Venture capitalist David Friedberg is worried that New York's city-run grocery stores will catch on.New York Mayor Zohran Mamdani has pledged to establish five city-run grocery stores.Friedberg said he expects the stores to be "wildly popular" initially.Venture capitalist David Friedberg says critics shouldn't write off New York Mayor Zohran Mamdani's city-run grocery stores."Everyone's got it a little bit wrong in assuming that this thing is going to radically fail," Friedberg said during a recent episode of "The All-In" Podcast, which he cohosts.Friedberg said, "It's a sad state" that the government-subsidized grocery stores, one of Mamdani's core campaign promises, will likely come to fruition and spur similar efforts elsewhere when people see the stores in action."I think that these things are going to create a radical spectacle, an exuberance for socialist policies that's going to kind of light a fire for socialism around the country, unfortunately," he said. "Because at the end of the day, no one has to pay the bill, because the bill doesn't come due for some time."Mamdani's grocery plan has been heavily criticized. Red Apple Group CEO John Catsimatidis, an area grocery store magnate and longtime friend of President Donald Trump, recently told Fox Business that Mamdani's plan was "trying to create something that's not viable."The stores, Friedberg said, will "create a spiral where you need to offer more stuff for free to come up with a way to cover the cost of the inflation for people that can't afford things anymore." But in the immediate future, Friedberg expects them to be quite popular."They're going to outperform Whole Foods. They're going to outperform Safeway.
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- What's the story?
- Venture capitalist David Friedberg is worried that New York's city-run grocery stores will catch on.New York Mayor Zohran Mamdani has pledged to establish five city-run grocery stores.Friedberg said he expects the stores to be "wildly popular" initially.Venture capitalist David Friedberg says critics shouldn't write off New York Mayor Zohran Mamdani's city-run grocery stores."Everyone's got it a little bit wrong in assuming that this thing is going to radically fail," Friedberg said during a recent episode of "The All-In" Podcast, which he cohosts.Friedberg said, "It's a sad state" that the government-subsidized grocery stores, one of Mamdani's core campaign promises, will likely come to fruition and spur similar efforts elsewhere when people see the stores in action."I think that these things are going to create a radical spectacle, an exuberance for socialist policies that's going to kind of light a fire for socialism around the country, unfortunately," he said. "Because at the end of the day, no one has to pay the bill, because the bill doesn't come due for some time."Mamdani's grocery plan has been heavily criticized.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
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- 5m ago.
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Tech investor David Friedberg says it's wrong to assume Zohran Mamdani's city-run grocery stores will 'radically fail'
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