Toronto isn't the next NYC, San Francisco, or LA. That's GREAT news. ๐ฅณ
Those cities have systemic inequalities we don't tolerate in ๐จ๐ฆ. Let's build something better & set a new global standard.
Here's how we'll drive Toronto's economy with community-based growth.
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2/ We'll invest in our talent. Our plan is to build a community venture fund to make city-owned investments in early stage companies that demonstrate potential.
We'll keep our talent, grow our local economy, & make opportunities more widely available.
Tomorrow we launch our business platform, but itโs not a traditional plan. It puts our communities first.
Iโm particularly pumped about one idea for Toronto โ ๐จ๐ฆโs first community-based venture fund.
Hereโs how weโll keep local talent, create jobs, & drive opportunity.
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2/ a community-based venture fund is a taxpayer owned investment firm.
Rather than lose our talent to San Francisco or Boston, weโll vet the deals & invest along side top tier funds on the condition the businesses stay here.
Other cities have had some pretty amazing results.
3/ Kalamazoo, MI is a thriving city, but it wasnโt always.
recession after recession left the city looking bare. Corporate mergers & acquisitions left few jobs. Old empty factories were everywhere.
In 2005, they started a fund to invest in early-stage life sciences companies.
A ๐บ๐ธ outlet reached out to discuss how an anti-corruption candidate for office in ๐จ๐ฆ is facing targeted attacks by a faux-activist group with members bragging about being paid to lie at community consultations.
โฆ I legit donโt know how to answer why ๐จ๐ฆโs media ignores me. ๐ฌ๐
Sweet. Vancouver media comin' through, because of course something needs to happen in Vancouver first for Toronto. lol
A bunch of Toronto "progressive" councilors are now telling my network I'm a troll.
Damn, the right is good. They effectively ran a right-wing candidate, then got the left to run on their platform. ๐
How the heck did ๐จ๐ฆ's housing crisis get so bad?
We spend a tremendous amount of taxpayer resources, and nothing changes.
There are a lot of reasons, but today let's talk about the political gaslighting that occurs through political operative groups.
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2/ When More Neighbours reached out, I took Eric's call in a second. Ran my plan past him.
Not one criticism. Said it would be game-changing โ he's a socialist who wants profits out of housing. I believed it.
Then he begins to criticize, while his minions spread lies about me.
3/ It didn't pass the sniff test. His old posts in a public group are interesting.
What's a "socialist" doing in a neoliberal group for deregulation? He's starting More Neighbours to appeal to social justice, because renters are 50% of voters? People keep sending this thread.
oh cool. Someone pointed out the โactivistsโ attacking me are attached to a right-wing media co, now theyโre trying to brand me as a Russian asset.
Good job. Except I help govs find hidden Russian plutocrat assets & I was referencing this Reuters piece.
2/ oh hey. I know this guy thanked in the report that helped lead to the anti-money laundering inquiry in BC.
Golly, itโs almost like I help identify hidden assets and am the good guy being attacked for wanting greater transparency lawsโฆ by housing activists? How strange. ๐ค
3/ on the upside, these activists have a really lit group chat. Weโre all so funny.
So whatโs this about us friendly housing activists branding Punwasi as a Russian asset, even though you know heโs not?
Feels weird for housing activists to conspire like thisโฆ for housing.
Twitter randos: โStephenโs wrong. Low rates & investors didnโt increase prices. No one says that but him.โ
Oh hey, Bank of Canada. Glad you finally realize what happened over the past 20 years.
2/ Bank of Canada also had a eureka moment in 2021 when it updated its forecasting tool. It realized that borrowing can contribute to housing demand.
You see, despite monetary policy being based on lowering credit to increase demand, they didnโt know it increased demand. ๐คทโโ๏ธ
3/ what? BMO is saying the same thing about housing and credit?
Hey, maybe weโre all wrong and a group of mostly anonymous accounts that spend a large portion of their day spreading false rumors about me are right, despite providing absolutely zero evidence.