Kevin O'Leary, chairman of O'Leary, has expressed his strong stance against investing in New York, labeling it as a 'loser state.' O'Leary criticized the recent actions taken against the former president, stating that it portrays him in a negative light and questions his business acumen.
He highlighted the lack of clarity in the governor of New York's statements regarding business conduct in the state, leading to uncertainty for investors like himself. O'Leary emphasized the importance of minimizing risks in investments, particularly in the current climate.
While acknowledging the potential benefits of investing in data centers due to the growing demand driven by AI technology, O'Leary pointed out the competitive advantages offered by other states such as Oklahoma, North Dakota, and West Virginia in terms of cost and business-friendly policies.
He criticized New York's approach towards businesses, citing incidents like the recent theft at a Gucci store as examples of the challenges faced by the city. O'Leary highlighted the need for a more business-friendly environment to attract investments and create job opportunities.
Referencing past events like Amazon's withdrawal from establishing a headquarters in New York, O'Leary emphasized the importance of incentivizing businesses rather than driving them away.
In conclusion, O'Leary expressed his admiration for the people of New York and the state itself but reiterated his concerns about the risks associated with conducting business in the current climate. He called for a shift towards policies that support and encourage business growth for the benefit of all stakeholders.
