Pangea raised $180m to buy up low-rent Chicago properties "to help poor people," and then created the most brutally efficient eviction mill in Chicago history

#LateStageCapitalism

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What’s extra funny and sort of left out is that if that’s all true then they’re probably losing money. $180M / 720 units ~ 250K / unit. Based on like a mortgage schedule you’d expect to be paying $1K+ / unit just for the financing. They don’t make clear what their average rent but the 2 bedrooms mentioned were all under $1K, and lets not forget about utilities, maintenance, insurance, property taxes . . . and the writer’s own admission that those evictions cost between a half a mil and a million, depending on how much they paid the lawyers.

One of the things you see over and over again with affordable housing is that the particular people who make the housing are held accountable for poverty in general. Evictions and private companies are the recent example, historically though you’ve also got crime and lead contamination, usually in public housing. That’s why they demolished them in my city anyway. Rarely do you see an expose of nice condos or suburban tract houses, as long as they don’t build them on a toxic waste site.

No, Russian has a V sound, it is just sometimes pronounced slightly closer to W. Chekov’s “nuclear wessels” was an exaggeration of this.

Per Wikipedia:

Roddenberry asked [Walter Koenig] to “ham up” his Russian accent to add a note of comic relief to the series. Chekov’s accent has been criticized as inauthentic, in particular Koenig’s substituting the “w” sound in place of a “v” sound (e.g., “wodka” for “vodka”); Koenig has said the accent was inspired by his father, who had the same difficulty with the “v” sound

(Walter Koenig’s father Isadore Koenig, originally Koenigsberg, was from Lithuania. I suspect that he spoke Russian but his native language was Yiddish).

And, gee, what a surprise! He worked with Y combinator, leaving Peter Thiel’s greasy fingerprints over Goldstein’s companies.

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I think your math has a problem. $180M was the seed money. From the write-up:

The business has grown by 13,323% since its founding, with annual revenues of $113m.

Narrator: They’re not losing money.

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