Friedberg estimates 30-40% of US workers are employed by or depend on government as primary customer.
“And I think a study I I tried to pull together all this data a couple months ago, but something north of like 30 or 40% of The US working force is touched by the government as a customer of their business, the primary customer of their business or as the employer of those individuals.”
Friedberg argues safety regulators are not tasked with considering economic or affordability impacts.
“Because their job, the job of that individual sitting in that role, whether it's a local, state, or federal government agency, is to increase safety.”
Friedberg states Social Security trust fund holds only a $4 trillion IOU from the US government, not actual assets.
“People don't realize this, but Social Security is an independent trust fund that's set up, and it holds one asset. That asset is an IOU from the US government to that From tax.”
Friedberg predicts federal bailout of state and local governments under Democratic control to avoid economic crisis.
“If you end up with a democrat controlled house and a democrat president in 2028, you'll very likely see a federalization of that obligation, meaning that the federal government will step in to bail out or support those state and local governments because otherwise there's gonna be a real kind of economic crisis afoot.”
Friedberg argues moving workers from government to private sector increases productivity and grows the economy.
“But when people move from the government workforce into the private workforce, they become productive. They're making things that grow the economy, and, theoretically, they should also make more money.”
Friedberg estimates nearly half the US population receives government paychecks, pensions, or welfare benefits.
“Today, if you add up federal, state, local government employees, plus all the contractors for the government, plus all the people that live off of a retirement check or or a welfare support check, so all the people that are living off government checks, it's about nearly half The US population.”
Friedberg says federal government spent hundreds of millions on useless workforce training for desktop computers in the eighties.
“In fact, the federal government did this deal in the early eighties. They spent hundreds of millions of dollars in workforce training programs that literally did nothing.”
Friedberg believes conventional wisdom about New York's city-run grocery stores failing is incorrect.
“Everyone's got it a little bit wrong in assuming that this thing is going to radically fail,”
Friedberg predicts that New York City's government-operated grocery stores will experience initial popularity.
“Venture capitalist David Friedberg says he thinks the initial popularity of New York's city-run grocery stores will ”
Friedberg predicts government-subsidized grocery stores will succeed and inspire similar programs elsewhere.
“ 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. ”
Friedberg argues government student loan intervention caused 6x administrative cost increase and 8% annual tuition inflation.
“When the government intervenes in underwriting student loans and gives everyone a loan, administrative costs went up by six x and tuition skyrocketed 8% a year compounding for thirty years because the government said we'll underwrite any student loan.”