Investigating “The Wall Street of the South”
HTML-код
- Опубликовано: 16 май 2024
- TECH AND FINANCE ARE MOVING TO MIAMI. BUT WHAT DOES THAT ACTUALLY MEAN FOR THE CITY? GOOD WORK INVESTIGATES.
Featuring interviews with Carlos Frías, Danny Rivero, Billy Corben, Deborah Acosta, Amy Hanauer, and Maya Vander.
Follow Carlos: / carlos_frias
Danny: / toomuchme
Billy: / billycorben
Deborah: / deborahacosta
Amy: / amyhanauer
Maya: / themayavander
Thumbnail design by Thomas Grillo
Video by Dan Toomey and Henry Stockwell
Buy a Good Work tee shirt: shop.morningbrew.com/products...
--
GOOD WORK ON ALL PLATFORMS: @goodworkmb
DAN ON IG: @dhtoomey
SIGN UP FOR MORNING BREW HERE: morningbrew.com/daily/subscri...
--
02:03-3:17: Miami’s history
03:17-9:45: Tech and finance come to the 305
9:45- 12:48: Florida’s tax laws
12:48-15:53 : Miami’s expensive, dog
15:53-18:00: Conclusion
18:00-19:23: Selling Sunset
"i'm just pointing for your b-roll" that's a friend.
A true professional
QUEEN
Absolute professional she is 😂😂
😂😂😂😂
"You are the same colour as your shirt!" No longer with that BURN!
He got violated so badly it turned "Dan Toomey" into Dan MeToo
I cannot unsee it ever since LOL 🤣
@@vau_st thanks you made me chuckle
That part was really uncomfortable. Literally just racism, and against his own race, weirdly.
@@MaxwellTornado Calm down snowflake
The delayed censoring of clusterf*ck lmaooooo
clusterfuck***
19:08 "You hit the nail on the f*cking head.. BEEP" LOL
I don’t think one censor of the word f*ck was on-time lmao
F*ck I DIDNT EVEN REALIZE LMFAO
3:32 odd timing here too lol….. swear to God it’s like he was trying to actually sound out “F-*-C-K”
Oh I swear that’s exactly what he was doing as I listen back to it, he put a lot of effort or the editor put a lot of effort into compressing and using other filters to get that shortened beep to perfectly parse that word in half like that.. it’s Impressively clean af to be honest
4:47 lol
I thought this was a Miami documentary but it was actually the roast of Dan Toomey.
Sorry to keep you all waiting with this one, but we needed to retrieve the VHS tapes from an unnamed cartel who didn't want this episode aired. Nonetheless, we have now fully investigated The 305. What should we cover next?
You could investigate billionaires buying clout with museums. In Chicago the Museum of Science and Industry is getting re-named the Griffin Museum after Ken Griffin gave them $125 million. The same Ken Griffin who moved Citadel out of Chicago and to Miami.
Danny boy how many lines you got offered in the 305 broski
@GoodWorkMB How do we know that it's actually you writing this comment?
Investigate the country code top level domains and how they can be manipulated/managed/exploited. Also how the NSA spies on us would be a good’n. Undersea cables have been an interest of mine for the last month or so.
I’m trying to learn about the internet and IT. 😂
Help me out #goodwork_
Next: the Fed.
So that is why Miami has a Formula one grand prix.
Seriously lol if it wasnt for Covid I dont think there would be one there
The owners of F1 are trying to expand the relatively untapped US market, and given that Miami (and I guess the hard rock owners) welcome anything for money, it's a perfect match. The first race was crazy expensive. I love F1 but I wouldn't pay that much. They also made a new race in Las Vegas.
@@timoooo7320I saw it was $180 for nachos at f1💀 it that I am the target audience it's still absolutely insane
The Miami mayor really saw what tech and finance did to one of the most historic and beloved places in the U.S. in San Francisco and said “I want that”
I mean the main reason San Francisco is so bad is because of a housing shortage and an ineffective police force. Miami is doing better on housing and given the states leaders they might be able to do better on police?
Never Say NEVER 😎 Justin Bieber
What has tech and finance done to sf?
@@xellent lmao. miami has the most expensive rental market in the nation. do tell about the lack of a housing crisis. thats before even getting into the homeowner insurance being the most expensive in the nation. im sure the whole climate change thing will just blow over tho with the insurance companies 🙄
They embraced crypto and got a giant egg in the face when FTX went boom.
I know the joke here is that you’re “just a RUclipsr” but the caliber and quality of the writing and editing is something that feels right at home on the Daily Show. You’re carving your own path in this arena and doing it well!
To the powers that be: please send Dan on more field trips! We the fans (the Danheads, if you will) want to see him be roasted (and roast) in multiple varied climates!
This is absolutely pre 2010 daily show correspondence segment material
he's definitely not "just a RUclipsr", the channel is funded by morning brew and he has a whole team behind him. not that it's a bad thing, but the teamwork required to produce something of this quality shouldn't be understated
Dan in a white suit = icon
I'm a Miami native and honestly, Miami has become what it always wanted to be and deserves to be. It's a city that has ALWAYS glorified the vapid, superficial and selfish lifestyle of the constant pursuit of wealth. It has always been the playground of the super rich of Latin-America and has always fought against truly equitable policies because the politically influential are all exiles from countries they ruined with their selfish and capitalist aggrandizing ideals.
Don't get me wrong, the multi-culturalism and "capital of Latin America" vibes are amazing. You'd be doing well to find a city with better food. But its always been a city that encourages selfishness and punishes the truly well-intentioned.
Its the nations center of fraud for a reason.
quite literally Vice City
That must be why GTA is moving there.
On a more serious note: you provided a really precise and well thought out description of the situation.
Don't forget the place where rich Cubans get to pretend they're actually the victims.
the worst part about the city is when no one around you speaks english and some will look mad at you or treat you badly for not speaking spanish... also, hurricane season sucks! taxes are nice and if you can avoid people than it's livable.. people drive like shit, there are better places to live
🪱
Dan getting ruthlessly bullied gives me life
"I'm just pointing for your b-roll" hahahahahahaha comedy gold xD
From Palm Beach to the next zip code is one of the biggest wealth gaps to be so close. It literally goes from mansions to slums from one zip code to the next.
Sounds like thoe areas could be developed with higher stories and mass transport. The truly poor can keep on moving
Vegas is more extreme
@@frag0638 I believe it. They are both areas that were only recently developed, at least most of it coming after ww2.
Makes sense.
You mean WEST Palm Beach❓
@@Booz2020 I mean whatever municipality is called “Palm Beach.” Doesn’t really matter which one it is.
The memes are extra deep fried in this one
As a South Florida native, this doc is KILLING me!!! In a good way. Thank you for covering this and giving my anxiety around this issue a place to laugh...and cry...
I’m born and raised in Miami, there is nothing that brings me more than the future of this city.
@@aka_duck_ I think you're missing a word.
The censoring after the curse word had me rolling 🤣
Tears
INVESTIGATE RONALD REAGAN!!
*Ray Gun
Investigate all of them honestly
@@rightwingsafetysquad9872 Gay Run*
@@LCRich2001*Rae Jepsen
Confirmed: he's DEAD.
"im roasting you and you're still white" ooof.
Best moment of the video 😂
He is wearing a suit jacket in 100 degrees and 80% humidity weather
We have the lowest unemployment rate here in Florida but we also are 38th in average income. There're plenty of jobs but they all pay horribly and never enough for you to be able to afford an actual decent home. our governor loves to brag about everyone moving here but turns a blind eye to helping actual residents.
Lots of immigrants lower the bidding prices. You could choose to exclude the least employable among them by imposing a minimum wage. Legendary African American scholar Thomas Sowell has a lot to say about price and wage controls
@@screwstatists7324or how about actual fucking tax policy that forces people to use their money or lose it
Unemployment is a mangled metric. Unemployment only tracks the number of people receiving unemployment benefits, meaning people who had jobs, lost them, enrolled for unemployment, and are seeking new employment. It leaves a lot of people out.
hyper rich living there also make a lot of stuff way to expensive. Like going out to a club sometimes you have to pay 100 dollars to enter because of these ultra rich fuckers and tourists.
@@KA-rt6bb that only serves to encourage those who can hide their money to hide their money resulting in lower tax income overall.
Wow, thats one of the most precisely edited content I have laid my eyes on! Jam packed bundle of a report. Love it!
I don't even give a shit about finance or tech, but this is still my favorite RUclips channel.
Full "Roast of Dan Toomey" with all previous guests episode when?
That increased insurance part is way underrated. Home insurance went from like $200/mo to like $1000/mo cuz no one wants to take the risk to cover future storms
Please dont reupload. The delayed censoring is the cherry on top. Love the content. Keep it up.
Of all the videos I've watched this week, this was one of them.
I lived in Miami for a bit. Honestly, I think if some of the existing residents get priced out of the city, so long as they are bought out for a fair high price, it could be a great thing. Miami is sinking and many of the long term residents who aren't extraordinarily wealthy have been trying to develop an exit plan for themselves and their families for quite some time and it looks like it may have been served to them on a silver platter. When the homes of the wealthy get destroyed from hurricanes and flooding, it's just an excuse to rebuild an even bigger home without having to file for demolishing permits. When it happens to the middle and lower class, lives can be ruined for decades if not generations.
The problem is that a large portion of the people getting priced out were renters. They'll get no payout.
True. And perhaps the extra capital coming to the city will make it possible to build dykes or sea walls if nessesary. Thst wouldn't happen if the entire city was an apocalyptic "egalitarian" platau of single family immigrant housing. Homeowners and renters will move out to the suburbs or leave the area. A well managed city should build or arrange mass transport to key districts in order to keep the city circulating
@@rightwingsafetysquad9872 True, very true. I myself was one of them after all. Thanks for pointing that out.
@@screwstatists7324 It sounds like a nice idea, but after living there and seeing the situation first hand, I don't know if it would be enough. Flooding and high water is one thing, but hurricanes, constant ones at that, are very challenging to engineer around. I hope for the sake of the local residents that I can be proven wrong.
“Miami is sinking.” 🤥.“Sea levels rising.” 🤥 this lie was been repeated so much with ZERO evidence. Literally every wealthy person is buying water front property in Miami.
The feet censoring made me cackle
I grew up in Miami and left 3 years ago, im all for bringing in businesses and growing the economy there which was needed, but rent prices have skyrocketed more than ever and now what used to 1,650$ average for a 1 bedroom (still high but around downtown area with pool, AC, in unit laundry) is now 2,500$ plus. The locals are NOT getting paid enough either to afford the gentrification 😔 My friend who works a in a medical office there gets 17$ hr which is not enough at all to survive. Its a shame because the culture is amazing there and i do miss it a lot.
just rezone single family into higher density
Only comment I found mentioning "gentrification". Congrats. 🙂👍
Wall Street wants to move there so they can launder money more efficiently. Because apparently even Mafia invested NY is asking to many questions. I'm not even joking about that, there is so much dark money floating around in Florida. The daisy chain is do the crime > wash in crooked Florida business > buy Florida property > either sell or use as collateral for loan > invest in Wall Street. There is a direct connect between low taxes and low financial law enforcement.
I mean come on the former Governor of Florida literally stole nearly 2 billion dollars from Medicare with his crooked "health care" business. He was never punished. In fact he was promoted first to Governor and now Senator.
Citadel prints money bro they dont need to launder it 🤣
It's because democrats are anti business. It's why businesses have left on mass same for people. California literally lost a house seat due to the population dropping so much.
Thank you for covering this. This is happening all throughout Florida, but Miami and Palm Beach are some of the most egregious examples. I guess once all the rich people drive out the locals and they realize they have nobody to serve their every need they may go somewhere else.
Or people just ell their homes at a pemium, move to the suburbs and outskirts and take mass transport to get into he core for work or whatever.
"nobody to serve them" wdym cant they just import some people from like Venezuela to serve them and pay them nothing in from a US point of view ( which would still be a lot from a venezuelan point of view and hence theyd have no issues getting the people to come)
@@Rubicola174 It's difficult letting go of the place you were born and raised. Even the economics aside, south florida is admittedly a great place to live. Nice weather, tons of culture, the keys/naples/orlando/tampa a relative stone's throw away, several airports close to you. Assuming a local had the money, it's hard going somewhere where your dollar can be stretched more that matches this area. You're really looking at the midwest middle of nowhere or far north, which can be a disastrous culture shock with the seasons - there's a lot of little things you need to know how to deal with when it's freezing/snowing outside. I work for a large fortune 500 bank with an office based in Sunrise that is looking to recruit fresh college grads, and while they can make decent money if they're almost anywhere else, won't be able to afford a 400 sq/ft studio anywhere close to the office. Then wonder why they can't find decent talent to hire.
@@screwstatists7324 Florida doesnt really have good mass transit like that
@vihankrishna9644 That's what they've been doing for decades now. Easier to afford rent when the government subsidizes it and you split it with 7 people.
I am now realizing that I just want to be where there aren't so many Multi Multi Millionaires. These groups are like gigantic leeches on economies of any size.
They always pay the vast majority of taxes no matter the rate, create all the jobs, spend most of the wealth, create the most wealth though capital accumulation by saving and investment (whereas you spend every dime and never have anything left over).
The core of the city SHOULD be developed over time, as the vast majority of tax income, jobs, and wealth comes from a tiny district just a few blocks wide in almost any city. Instead of wasting this incredible opportunity over jealousy, people should sell their homes and move to the suburbs. A competent city would build or allow mass transport to being these people into the downtown district from the surrounding area. Asia and Europe make this work beautifully.
@@screwstatists7324 rich people do not create wealth they hoard it and find loopholes so they dont have to give their true fair share back into the economy. They then move around funds allocated for public services or programs so they can use it in ways they don't have to report (look to tobacco companies siphoning out anti smoking money). Capitalists are genuinely a stain on society and we really need to go back to taking care of our local communities even if it means no iphone. I personally could do without needing spyware on me 24/7.
@@screwstatists7324 But even moving to the suburbs will become harder because there is already limited space, and the displacement of so many people at once will drive up the cost of land and housing in the suburbs. Also, it's not like everyone is geographically mobile. I agree that it is a big opportunity if managed correctly, but it does make you question if we should be in a situation where the migration of just a select group of people makes such huge change in the first place. If the US didn't have such insane income inequality this wouldn't be so much of a 'problem'.
@@screwstatists7324 Couple of questions, why should people move to the suburbs? Also When you say that a 'city should be developed' what do you mean? I tend to agree that cities should be developed, however I think the word "development" is very vague. As you know, many businesses have different methods and business models. If they develop and dip out after value starts to drop, that's not development that's just using a locality for its life-force. The businesses that have the most incentive to develop for the long term, rain or shine will be the local ones. But if they can't compete and have to move to the suburbs, it's not worth it. Also *every* metro area should invest in efficient and effective public transportation, no question. Usually if they don't it's because they benefit from the Auto industry which is a whole different issue to dissect.
So I guess I say all that to ask...what's your point exactly?
@@AttorneyForCats He feels called out and therefore is using mental gymnastics to justify his wealth accumulation as something noble. We are just sad haters in his view 😢.
The fake video recommendations at the end had me rolling
Another fantastic video as always. Not only is your work well researched and cited, not only do you go to the locations, you also take time to interview key people relevant to the issue. So much content, especially on RUclips, is simply *about* a topic and often feels borderline exploitative even if taking a more "serious" tone. Good Work has more effort in a single posterized Dan Toomey closeup than most creators will ever have in their life.
"I'm roasting you and you're still this white" 😭😭😭
Best content on RUclips. Thanks for all your hard work.
Bro watched 1 Miami Vice episode
That's all u need
The pilot, dassit
Not gonna lie boys this Dan Toomey guy looks like he does more blow than that Jeremy Fragrance dude and Jordan Belfort back in the 90’s
Buddy if it helps you out then thank you for your continuous display of enthusiasm while doing these investigative journalism work 👍🏻
JEREMY FRAGRANCE MENTIONED🗣️🗣️🗣️ POWERRRRRRR
@@davennicholson980 *sniffs pizza* I want to fk this pizza!!!
Hi. Great work btw. Hope it is not perceived as negative non-constructive feedback.
Just one suggestion: since subtitles are prompted by default the bottom of the screen, maybe you could consider to change the position of the annotation so that users don't have to turn off caption, rewind just to see the "Mango and Rice" wording, turn it back on and go on each time the content is overlayed by subtitles. (The grandest role model is `Cinemasins` channels, but it doesnt have to be as extreme as that.)
While many don't need subtitles, having it makes possible watching the video in silent and friendly for community with hearing difficulty. Some terms and names are better read than heard.
Everything this team makes is better than most traditional media outlets. Keep it up yall ❤
love the new contents this channel put out. keep up the good work!
I love how you beeped the pause after clusterf*ck 😂
Having lived in south Florida my entire life seeing this transition has been extremely odd and even disorienting… older white Northerners have been buying vacation homes here since the dawn of time but something has definitely changed… traffic, social spaces and real estate have increased in congestion and competition tenfold… what I wish was mentioned more here was the “keep up with the jones” mentality that permeates all of south Florida now more than ever; people move here to buy stuff they don’t need with money they don’t have to impress people they don’t know… and it’s only gotten more exasperated. And don’t get me wrong I love it here it is home to me, but the cultural melting pot it used to be is in many ways outshined by the wealth concentration that keeps growing
Been living in Miami since 97, this is incredibly true. Everyone has to have a Mercedes or the biggest F150 (lifted, of course), latest phone, trying to move to Coral Gables/Doral, go clubbing, perfect teeth, etc as if they're all auditioning to be on the Kardashians. Meanwhile the roads get flooded every hurricane season, can't afford rent, the heat is getting worse, insurance is unaffordable and there are more houseless people than ever with no solutions other than making it illegal to exist in public. It's really a "pig wearing lipstick" situation here
That is the vibe I get every time I go to Miami. The wealthy people are showing off. The few middle income people are trying to show off, the lower income folks are pretending to show off. All trying to impress strangers with fluff that is totally meaningless. All trying to keep up for what? For a millisecond, vapid ego boost? Everything feels fake. So much surgery and silicone as well 😂
Traffic and real estate are fixable by creating effective mass transit, and reducing non-necessary (i.e. non-safety related) regulations around building housing while ignoring NIMBYs. American cities as a whole have really strangled themselves with their stupid housing regulations and over-prioritization of NIMBYs. The housing situation would fix itself if we just made it easier to be profitable building housing, specifically dense housing.
We also need to come to an understanding that neighborhoods/cities characters change over time, and trying to hold onto the past often just leads to degradation of those neighborhoods and cities. As long as people are being properly compensated (fair market price for the real estate, compensation for the cost of moving, and compensation for the inconvenience) we should not frown upon redevelopment. We just need to make sure it is the right kind of redevelopment that benefits the people who already live in the city.
Complete his transformation into Pitbull killed me 😂😂
The way he laughs whilst roasting Dan is even crazier cause you can tell he’s having a real good 😂
Hats off to you and your crew with this one. Great work all around.
Always a good day when Good Work drops a video.
Was not expecting the Good Work x Billy Corben collab, but I'm all here for it
Your videos are the perfect combination of informative so I'm watching every one on them and stupid so there's no way of sharing them without looking like a weirdo. Great job, keep them coming
The self realization of what your presence means at the end was just amazing. Chefs kiss!
LOVE YOUR VIDEOS! Plus Maya’s cameo was a great touch! lol
Don't worry about being pale, Dan - here in ireland youd be considered sunkissed lol
Thank you, I appreciate the reporting.
Hey Good Work... Good Work on this report, very well represented, you even got Billy Corben on it.
8:17 Thank you for this visual 😂
Informative and funny is how I strive to live my life and you are the pinnacle of such things hahah
hahahaa this is about to make my day, thank you Dan
I was a teenager in the early '80s working at the Burger King downtown on Flagler across from the courts. (Afaik that space is a Wendy's now.) I made enough to get approved for a home loan on a 2/2/2 condo. When the metromover started it was free so I could get to work from Omni and steal a couple of sandwiches to survive at work. I sold that condo with zero improvements to a developer who paid $775k. Don't let anyone tell you that you aren't working hard enough if you are young. We had all the opportunities.
Damnnn you came UP. Geez I remember that exact location and the mover used to be soo slow lol. Did you leave Florida afterwards?
@@copiouscat I left Florida not long after buying it but I held onto it. When I sold I already had another house in Brickell/Vizcaya area. Yeah it was easy for us. All of the people I worked with at that Burger King made it. One has a cleaning business for the Brickell condos and nearly 300 employees. One became a fire fighter and invested heavily in real estate well before the 08 bubble. There aren't those untapped opportunities now. And yes the mover was slow and always breaking down. It was better than walking home at night! That area was filled with.. interesting ppl when the sun went down.
good work guys.
I love that touch with the veg tails and Jokic 😂😂😂
Another great video Dan may consider coming to Austin for some similar reporting
As someone born and raised in Miami. Yeah this city is fucked 😂
Yep the crib ain’t the same no more
Miami streets need to be covered by more tropical rainforest trees and canopies 🥭
maybe the rich are talking about miami beach, not actual miami, because miami traffic is just awful. stuck for an actual hour with very little movement, some of the worst traffic i've ever endured
Yess just as worse as LA
Thank you for your good work
*Video title could interchangeably be “The Gentrification of the South.”*
Thank you for saying that, it is so sadly true…
Gentrification isn't a real thing.
The opening shot already made me sweat. South Floridian humidity is unrivaled.
Bye bye culture and hello capitalism
Props for leaving those roasts in. Good Work.
Must be nice to watch the whole interview with Maya Vander, must be a gold mine of unintentional comedy.
Best video yet!
0:50 I appreciate the microphone flip
Great work
One of fav channel
The Good Work lore continues to grow
Good work videos are getting more psychotic and I'm here for it
This video was so good!!! 😂😂😂
Btw, any chance of hiring a proofreader for the captions? The automatic captions miss out on a lot of the jokes which is a shame!
good work👍
Grand Theft Assets: Vice City
Sweet must have sold some tshirts to get down to Miami. Love the content! Hilarious.
I was born in Miami. It is still my favorite city in the world. The food, the culture, the weather, I love everything about it… however… I hate what I’ve been calling the “L.A.ification” of Miami, meaning the massive influx of celebrity, influencer, and corporate culture that has been pricing out tons of people who originally made that city, just like NYC and LA. Don’t get me wrong, Miami has always been a flashy city, it’s always attracted these sorts of crowds, but now it’s out of hand.
Facts. Da Crib just ain’t the same no more. I visited home from San Diego and was like WTF is going on with traffic it’s sooo congested in north Miami to Bal harbor it’s wild AF.
That roasting had me BELLY LAUGHING hahahaha
this editing goes crazy and by crazy i mean fever dream
I love this channel
Was not expecting the Maya appearance let's gooooo
5:26 LMAOOOO
(Dan, you’re invited to all my podcasts)
This one really went off into space with their edits
good work, Dan
Should do this more, explore other cities/areas and give background/current events. Good stuff
The feet censoring has me rolling 🤣
Good Work
imo the lauch of GTA6 would also play a part in miami's success
Phenomenal B-roll footage.
It's kinda hilarious that rich people are racing to buy houses in Miami. Since almost certainly Miami will be underwater within a century.
Surely....
🤓☝🏻Rich people (who can afford the highest quality information, advice, and due diligence on their investments) don’t know that their house will be underwater! I know this cuz the rich ppl on TV told me so! 😅🫵🏻
@@garyhab2339 🤡
Not hilarious at all considering they wont be here in a century. Coast can also be reclaimed like Netherlands and buildings can be raised.
Keep believing that 🤡
Amazing Miami vid
Good work, Good Work.
“When I first met you I thought you wanted to tell me about this wonderful book” cooked your ass lmfao
And that growth is artificial, no industry investments, just money parking.
NYC barely has any subsidized housing. The guy at 15:20 is lying. If NYC had plenty of subsidized housing, then they wouldn't have, by far, the highest median rent of any city in America.
Would you like to cite a source for that? I'm currently more inclined to believe an experienced journalist for one of Miami's local stations who has recently written multiple housing-related articles, but a source might change that. In addition, median is an interesting choice of statistic given that the median person would not be applicable for subsidized housing.
not epstein island (we checked) took me off guard lmao