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Politico
17-07-2025
- Politics
- Politico
Mamdani turns on the charm, meets his critics head on
Mamdani has taken the proactive approach this week to addressing their criticisms head-on. Some have said he's a little too smooth. Others simply want to hear from the fresh-faced Democrat who shocked the political world with his primary victory. Holdouts within the top echelons of the Democratic Party, at the helm of major corporations and in New York's vibrant Jewish community have outstanding concerns about Mamdani's lack of executive leadership, his proposals to freeze rent and tax the rich, and his record of criticism of Israel. Jeffries and Senate Minority Leader Chuck Schumer, who has also been hesitant to endorse Mamdani, have both taken issue with the candidate declining to condemn the phrase 'globalize the intifada.' Mamdani is trying to clarify his approach to the slogan, which many Jews have said they hear as a call to violence against them, POLITICO has reported. He told attendees at the Partnership for New York City business event Tuesday that he would 'discourage' the use of the slogan, and he is expected to further soften his stance more publicly. More broadly, the Democratic nominee for mayor has signaled a willingness to make some concessions as he listens and learns. 'At the core of my politics is not just a sincerity, but also a desire for partnership,' he told reporters Tuesday. Business executives from the meeting later that day appeared appreciative of Mamdani's outreach. 'The meeting was a net positive,' one told the Financial Times. 'He was genuinely wanting to engage and ultimately gave most people present a sense that he cares about New York and wants to be the mayor of all New Yorkers.' Mamdani is facing Cuomo, incumbent Mayor Eric Adams, Republican Curtis Sliwa and independent business leader Jim Walden in the general election. New York City's most influential unions are with Mamdani, as are some local leaders who endorsed Cuomo in the primary. He has support from New York's most progressive House members. But several top Democrats have thus far withheld their endorsements, including Jeffries, Schumer and Gov. Kathy Hochul.
Business Insider
17-07-2025
- Business
- Business Insider
New York's tech elite give Mamdani points for 'charisma' — and engaging with them at closed-door meet
Zohran Mamdani had no deck, but plenty of pitch when he met with New York City's tech community on Wednesday night. At an invite-only fireside chat with venture capitalist Kevin Ryan, the New York City Democratic mayoral candidate tried to sell a room of tech workers and startup investors on his vision for a city that works for the working class. And he mostly avoided the controversy surrounding his views on Israel and tax hikes for the city's millionaires and billionaires, according to multiple people who attended the event. Fresh off a primary win powered by the blunt message that New York is too expensive, Mamdani spent about an hour taking questions from New York's tech workers at an event hosted by the Partnership for New York City, Tech:NYC, and AlleyCorp, Ryan's venture capital firm that incubates and invests in startups. The crowd of some 200 people included startup founders, angel investors, and general partners from venture capital funds. The event, held at a gleaming skyscraper in Midtown, offered a stark contrast to the candidate's grassroots campaign, which was built around free city buses, a freeze on New York rents, and tax hikes for millionaires. Mamdani leaned in, fielding questions with a mix of what attendees who spoke to Business Insider characterized as "charisma" and pragmatism. Ryan told Business Insider that when someone in the audience raised President Donald Trump's social media post about Mamdani, which referred to him as "a 100% Communist Lunatic" who "looks TERRIBLE," he joked that it must have hurt Mamdani to hear he looked terrible, drawing scattered laughs. During their discussion, Mamdani and Ryan pinballed from the state of affairs in New York's tech scene to initiatives across housing, childcare, transportation, healthcare, and government efficiency, attendees said. Last week, Mamdani collided with tech's more conservative wing on social media after a Sequoia Capital investor's viral comments referring to the candidate as an "Islamist." Ryan said the post didn't come up during the chat, but one audience member did ask Mamdani about his past comments on Israel. Mamdani deflected, Ryan said. "He was trying to focus on being mayor of New York," Ryan said, "not mayor of the Middle East." Mamdani was somewhat vague, Ryan and other attendees said, when asked about his previous comments about billionaires. "I don't think that we should have billionaires because, frankly, it is so much money in a moment of such inequality," Mamdani said in a TV interview in June. He seemed to be reaching out to the business community, nonetheless. "He didn't have to meet with the CEOs," said Ryan, referring to a Tuesday meeting with New York's business leaders. In that meeting, Mamdani reportedly said that he would not use the phrase "globalize the intifada" and that he would "discourage" others from doing so, after months of declining to condemn the phrase that some interpret as a call to violence against the Jewish people. At Wednesday's event, one attendee, who works at an artificial intelligence company, said he saw the candidate's rhetoric soften into a more pragmatic approach. The person said that when someone asked Mamdani what he hoped to achieve in his first hundred days in office, the candidate referenced a 2009 proposal by then-Mayor Michael Bloomberg to make cross-town buses free. Mamdani has said that he plans to make every bus in New York free. "I was glad to see him being open to new ideas and working with people outside his base," said Yoni Rechtman, a Brooklyn venture capitalist who attended the event. "Over the last few months, he's done a good job moderating on issues that matter to New York." Rechtman questioned if that was because of "an authentic commitment to pragmatism" or "just typical politicking." "He's engaging," Ryan said, "even though he knows that many people in the room don't agree with a number of his positions. I will give him credit for reaching out." As an organizer, Ryan played both host and ambassador. He's among the early architects of New York's startup scene, the original " Silicon Alley insider." His hands were on many of its flagship tech companies: Gilt Groupe, MongoDB, and even Business Insider, which he started along with Henry Blodget and Dwight Merriman in 2007. Ryan, who has previously cohosted events with Mamdani rivals Mayor Eric Adams and Andrew Cuomo, and other New York politicians, said he hasn't endorsed a candidate. This event, he said, came together after Mamdani's primary win and offered a chance to introduce the candidate to the tech ecosystem — and for the ecosystem to size him up. A spokesperson for Mamdani didn't return a request for comment. Mamdani's campaign has proposed a 2% income tax hike on New Yorkers earning more than $1 million a year — a bracket that likely doesn't include most of the city's early-stage founders and startup employees, and might only graze a few of the investors in the room. Zach Weinberg, a New York tech founder who notched one of the city's biggest startup exits with the $2.1 billion sale of Flatiron Health in 2018, didn't attend the fireside chat, but he didn't mince words when asked about Mamdani's platform. While the candidate "seems like a perfectly nice guy," Weinberg told Business Insider, he believes many of Mamdani's policies, especially rent freezes and higher taxes, "will not work" and could do more harm than good. "If he pushes tax rates higher on residents, you will see people move out of the city, which actually decreases tax revenue," he said. "Super wealthy people have flexibility where they live." He pointed to hedge fund manager David Tepper's departure from New Jersey — a move that caused a drop in the state's annual tax revenue — as a cautionary tale for what happens when tax policy collides with high-net-worth mobility. Mamdani sits further to the left than most in a room full of card-carrying capitalists, said Ryan. But he tried to show on Wednesday that he's willing to engage with a spectrum of viewpoints ahead of the general election, where he will face a Republican and several independent candidates, he added. When asked about technology's role in the government, Mamdani lamented that while he can track a food delivery order on his phone, he can't monitor a complaint he's logged in NYC311, the city's information and service hotline, as easily. The public sector, he told the group, could learn from the private sector in how it applies technology. "He's a good politician and understands that we need to create jobs in the city if people want to pay for anything," Ryan said.
Yahoo
16-07-2025
- Business
- Yahoo
Mamdani Talks ‘Intifada', Taxes in Grilling by Business Leaders
(Bloomberg) -- New York City mayoral candidate Zohran Mamdani told business leaders that he would begin to discourage the use of the phrase 'globalize the intifada' after being pressed on his views by Pfizer Inc. Chief Executive Officer Albert Bourla, according to people with knowledge of the matter. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Mamdani, the 33-year-old democratic socialist who shocked New York City's business and political establishment by beating Andrew Cuomo in last month's Democratic mayoral primary, met Tuesday with about 100 business leaders from the Partnership for New York City. The group is a 350-member coalition of the city's largest banks and media companies as well as investment, real estate and law firms. The meeting, which came at Mamdani's request, is one of several scheduled this week between the Democratic nominee and the business community, which is grappling with the potential impact of Mamdani's leadership on the city. Mamdani campaigned on promises to freeze the rent on affordable housing, and fund free buses and government-run grocery stores with new taxes on corporations and high-earners. JPMorgan Chase & Co. CEO Jamie Dimon last week criticized Mamdani and the Democratic reaction to his election, describing him as 'more of a Marxist than a socialist.' Bourla, whose grandparents perished at Auschwitz, moderated the event. Mamdani, an activist for Palestinian causes, has been criticized for refusing to denounce calls by anti-Israel protesters to 'globalize the intifada,' a reference to the armed Palestinian uprisings against Israel. Bourla in 2020 struck an agreement with Israeli Prime Minister Benjamin Netanyahu to use Israel as a test case for Pfizer's Covid-19 vaccine. In Tuesday's meeting, Mamdani appeared to relent on the matter, the people said, saying he would discourage such language going forward. But on other subjects the Queens assemblyman held firm, reiterating his goals and brushing off concerns about higher taxes by saying wealthy New Yorkers would stay put regardless, the people said. Mamdani also said he'd consider, but wouldn't commit, to keeping Police Commissioner Jessica Tisch, the people said. Her father, Loews Corp. Chairman James Tisch, was at the meeting. Other attendees included Uber Technologies Inc. CEO Dara Khosrowshahi, Hearst Corp. CEO Steve Swartz, Related Cos CEO Jeff Blau, and Centerview Partners' co-founder Blair Effron, the people said. 'Zohran appreciated the meeting today, and felt it was a constructive, honest discussion,' Jeffrey Lerner, a spokesman for Mamdani's campaign, said in a statement. 'We look forward to the opportunity to build on this conversation, even in navigating disagreement on fiscal policy. Zohran continues to believe that working in partnership is the best way to deliver an affordable city for all New Yorkers.' Business leaders who attended the Tuesday event thought Mamdani was 'the most impressive candidate they have seen in generations,' Kathy Wylde, CEO of the coalition, said in an interview on CNBC Wednesday. But Wylde said Mamdani is 'clearly, totally inexperienced' and that she doesn't think the candidate changed the minds of city business leaders. Mamdani also told attendees he would examine the New York City Department of Education for waste and duplication, and that he would look to use the World Cup as an opportunity to build up city infrastructure. Mamdani has been making efforts to consolidate traditional institutions behind his candidacy ahead of November's mayoral race, which could prove unusually competitive in a heavily blue city where the Democratic nominee has been all but assured of victory in recent elections. He will face off against four other candidates: incumbent Mayor Eric Adams, former governor Cuomo, and attorney Jim Walden — all of whom are running as independents — as well as Republican Curtis Sliwa. President Donald Trump, who has described Mamdani as a 'communist lunatic,' said this week that Cuomo should stay in the race, even after losing by more than 12 percentage points to Mamdani in the primary. --With assistance from Aysha Diallo. (Updates with comments by Partnership for New York City CEO in 10th paragraph) Forget DOGE. Musk Is Suddenly All In on AI How Starbucks Is Engineering a Turnaround With Warm Vibes and Cold Foams How Hims Became the King of Knockoff Weight-Loss Drugs Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot The New Third Rail in Silicon Valley: Investing in Chinese AI ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
16-07-2025
- Business
- CNBC
NYC business leaders thought Zohran Mamdani was charming but totally inexperienced: Kathryn Wylde
Kathryn Wylde, Partnership for New York City president and CEO, joins 'Squawk Box' to discuss key takeaways between New York City business executives and Democratic mayoral candidate Zohran Mamdani, state of the NYC mayoral race, policing in the city, and more.
New York Post
15-07-2025
- Business
- New York Post
Zohran Mamdani sticks to socialist guns, ‘tax the rich' plan during highly anticipated sitdown with NYC big business leaders
He's staying red. Mayoral frontrunner Zohran Mamdani stuck to his socialist guns during a highly anticipated powwow with Big Apple business leaders Tuesday — doubling down on his plan to raise their taxes, if elected. Mamdani — who just last month said billionaires shouldn't exist — schmoozed with roughly 100 CEOs convened by the powerful Partnership for New York City at his request, for the first of two days of scheduled meetings with business bigs. Advertisement 4 Mayoral frontrunner Zohran Mamdani is standing his ground on raising taxes if elected during a highly anticipated meeting with NYC business leaders on Tuesday. Paul Martinka The 90-minute meeting's temperature remained low, even as Mamdani was grilled about his communist-tinged and anti-Israel comments, including his refusal to condemn the 'globalize the intifada' rallying cry, one attendee told The Post. Asked about his intent to slap the ultra-wealthy and corporations, Mamdani told the executives that taxes had been raised on those groups in the past without it resulting in an exodus of high-earners from the Big Apple, the source said. Advertisement 'He didn't back away from any policy position, though he did so in a non-confrontational manner,' the attendee dished. 'It shows he's a good politician. He was very confident.' The slick Mamdani also distanced himself from his past use of the phrase 'seizing the means of production,' a Marxist concept, but in a roundabout way, chalking it up to a rookie mistake, another business bigwig in attendance said. 'It was very frustrating,' the source said. Advertisement 'He talks so much and says so little.' 4 JPMorgan CEO Jamie Dimon, along with other business leaders, snubbed the sitdown with the Democratic mayoral candidate. Bloomberg via Getty Images The sit-down — which was requested by Mamdani and will be followed by a Wednesday confab with tech industry leaders — was pointedly snubbed by JPMorgan CEO Jamie Dimon, who sits on the Partnership's board, and other Wall Street titans, many of whom sent non-executive underlings, sources said. 'Everyone is just in listening mode,' joked one banking bigwig. Advertisement Dimon — who branded Mamdani a 'Marxist' at an event in Ireland last week — begged off with a vague scheduling 'conflict,' according to bank reps. Even with the brush-off, Mamdani's move to engage business leaders shows the 'tax the rich' firebrand shifting toward broader outreach ahead of November's general election, where he'll face incumbent Mayor Eric Adams, a stubborn ex-Gov. Andrew Cuomo, Republican nominee Curtis Sliwa and independent Jim Walden. Those in attendance included Loews Corporation chair James Tisch, an ardent backer of Israel and the father of NYPD Commissioner Jessica Tisch — whom Mamdani did not commit to keeping as top cop during the meeting. 4 Mamdani has also been in contact with Kathy Wylde, president and CEO of the Partnership for NYC, who was shocked to see him beat Cuomo in the Democratic primary for mayor of New York City. Bloomberg via Getty Images A top rep from Louis Vuitton was also in the room for the confab, held at real estate company Tishman Speyer's Rockefeller Plaza offices, sources said. Mamdani, when pressed about the anti-Israel 'globalize the intifada' cry by the business leaders, said he discouraged its use, according to attendees. Pfizer CEO Albert Bourla, who is Jewish, pressed Mamdani for throwing around the word 'genocide' about the plight of Palestinians in Gaza under Israel, the second source said. But Mamdani evidently forged ahead smoothly. Advertisement 'It was very frustrating. He speaks well,' the source said, recounting Mamdani's response to a question about retail theft. 4 A source closely connected to Mamdani said he has been conducting more 1 on 1 meetings with business leaders across the city to gain their trust, as the individual said Mamdani is 'a savvy campaigner.' Paul Martinka 'He went into a lengthy discussion about people with mental illness. You scratch your head and say, 'He didn't answer the question. Unless you believe everyone who commits retail theft is mentally ill.'' The source added: '(Mamdani) speaks very well, in paragraphs. He's well organized. It's easy to fall into the trap of not getting an answer to your question.' Advertisement The summit came as the Queens state Assemblyman shifts his campaign to the general election after his shocking win in last month's Democratic primary. Mamdani recently picked Jeffrey Lerner, a seasoned Democratic political veteran who once worked for top rival Cuomo, to lead his campaign. He has been engaging with Kathy Wylde, president and CEO of the Partnership for NYC, as he tried to make nice with business leaders who've greeted his surprise primary win over Cuomo with serious concern verging into full-blown panic. Keep up with today's most important news Stay up on the very latest with Evening Update. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters Advertisement Mamdani has also extended lower profile olive branches, including meeting with many individual business leaders in one-on-ones, a source tied to the candidate said. He met Monday with a dozen executives with the Black Economic Alliance, including chairman and techie investment honcho Charles Phillips, sources said. 'He's proven himself to be a savvy campaigner,' a Democratic political operative said. 'The way you do it without angering your base is to quietly reach out to these people.' Advertisement And Mamdani has given tense tycoons plenty of ammunition to justify their fears. He has pushed for a 2% tax hike on millionaires, a 4.5% increase on corporations and unhesitatingly said billionaires shouldn't exist — all of which sparked fears a Mamdani mayoralty would cause an exodus of high earners from the Big Apple. Some bigs have gone on offense against the leftist, such as billionaire hedge fund titan Bill Ackman, who publicly searched for an anti-Mamdani candidate before casting his lot with Adams. Fellow billionaire John Catsimatidis likewise threatened to close or sell his Manhattan-based grocery chain Gristedes if Mamdani — who has proposed launching government-owned grocery shops — wins. Asked about the looming sit-down earlier Tuesday, Mamdani said he was looking for common ground. 'I go into that room knowing that there will be disagreements, and also knowing that the foundation of it is a belief in the possibility of the city, and it will take a new kind of politics to unlock that possibility,' he said. 'And what I will say to them, when I will say to every New Yorker, is that not only is my door open, but no matter of the question of the primary, the general, but that I am looking to work with everyone. 'My interest is a partnership, not in the politics.' — Additional reporting by Craig McCarthy, Hannah Fierick and James Franey
