How real is the Seattle boom without Amazon? What would be revealed if it went away?
As Warren Buffett famously said, “you only find out who is swimming naked when the tide goes out.”
I’ve been thinking about that lately as I watch workers furious move ahead on one of Amazon.com’s headquarters towers. The online retailer/technology giant is responsible for a huge amount of construction in central Seattle, not only for itself but by developers building apartments and condos.
On the other hand, there’s a Belltown site where work appears to have completely stopped and the sidewalk restored. At another location, one piece of heavy equipment has sat unloved for weeks. Maybe it’s a pause. Maybe more.
But my question to you is about more than development. How real is the Seattle boom without Amazon? (For example, we could lose all or part of Russell Investments under new owner London Stock Exchange Group. Outside of business, we have the Bertha fiasco.). What would be revealed if it went away? In the poll below, you can make multiple responses.
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This Week’s Links:
• Nine out of 10 big pharma companies spent more on marketing than on R&D | The Big Picture
• Some of Japan’s oldest businesses have lasted a thousand years | The Atlantic
• U.S. farmers watch $100 billion profit fade away | Bloomberg
• ‘Cheap gas depressed consumption’ | Beat the Press
Today’s Econ Haiku:
At last, Oregon
Hitting a recovery
Oops, there’s Kitzhaber