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One reason that Trump — or anyone else — would like to call on billionaires is because they know how to get things done. Mayor Karen Bass has already tasked billionaire real estate developer Steven Soboroff to drive LA’s rebuilding efforts.
Only problem is that fellow billionaire real estate developer Rick Caruso has decided that he wants to drive rebuilding efforts. Soboroff had a conversation with (former politician and ex-Bass rival) Rick and said, literally “all I want from (you) is if I need you to make a call or if you think I’m screwing up…that’s it.”
LA billionaire offers a hand — and applies some pressure — in wildfire recovery
Caruso says his effort is a response to the “little movement” he’s seen on the ground in the month since the fires. He says private-sector engagement is key, and his rollout includes some of LA’s heaviest hitters in business, including Netflix CEO Ted Sarandos and Carey Smith, president of Parsons (multinational infrastructural engineering firm).
What makes this great fun is that Caruso has given no-holds-barred rebukes alleging that the government and his former rival Karen Bass have mishandled the fire and its collective response.
What doesn’t help is that a dozen P&C fire insurance companies have already pulled out of California (before the PP/Altadena fires) and that fire insurance companies have paid out more than they’ve taken in in the last decade.
Who gets to build? Los Angeles fires expose the weakness of U.S. home insurance.
Audaces fortuna iuvat
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