Jamie Dimon thinks HQ2 will bring 100k jobs

[Anonymous]

What was his role in the massive trading loss of 2012? Don't forget that JPM took those 2008 TARP funds anyway.

I can't get past his family's Christmas card from a few years back. Tone-deaf.

[Anonymous]

Anonymous wrote:Jamie Dimon when I worked at JPM Morgan back in 2004 and he was taking over at CEO had a one trillion dollar balance sheet and a one billion IT budget. He currently has a two trillion dollar balance sheet.

He knows more than any of us so don't doubt him.

If you put your money in a stock market index in 2004 you would have more than double the money today. Maybe he does not know as much as you think he does?

[Anonymous]

Anonymous wrote:Jamie Dimon when I worked at JPM Morgan back in 2004 and he was taking over at CEO had a one trillion dollar balance sheet and a one billion IT budget. He currently has a two trillion dollar balance sheet.

He knows more than any of us so don't doubt him.

+1

[Anonymous]

But.... what about MoCo home values?!

[Anonymous]

Anonymous wrote:

Anonymous wrote:They will hire locals and most will commute in. There are already a lot of Amazon employees and many will be consolidated. They are having trouble filling the slots they have. They also allow telecommuting for some jobs so you can live further out and just go in as needed. We don't know anyone who works at Amazon who lives near work. Some live in other states and just fly in as needed.

+1 I have friends in close in Maryland who commute to Amazon in Virginia. They're not all going to live within a mile of HQ.

Per the JBG Smith negotiators that work with Amazon, roughly 80% of Amazon employees walk or take mass transit to work each day. So VRE and metro are possible but they are expecting the lions share to live inside the beltway and closer to National Landing

[Anonymous]

Anonymous wrote:

Anonymous wrote:Jamie Dimon when I worked at JPM Morgan back in 2004 and he was taking over at CEO had a one trillion dollar balance sheet and a one billion IT budget. He currently has a two trillion dollar balance sheet.

He knows more than any of us so don't doubt him.

If you put your money in a stock market index in 2004 you would have more than double the money today. Maybe he does not know as much as you think he does?

Balance sheet vs stock price are not equivalent.

[Anonymous]

JBG Smith share price is one of the best ways to bet on actual growth in this area, and they haven't moved much in the past six months. So despite what Dimon says, there's clearly a lot of uncertainty or hesitation from actual equity buyers in the market.

[Anonymous]

This area has enough jobs. Until we build more housing and infrastructure, Amazon won't be doing us any favors.

[Anonymous]

Anonymous wrote:So Jamir Dimon is not very current on how modern tech companies work. He is correct that it will bring 100K jobs, perhaps more but for different reasons. Companies like Amazon and other tech giants are not like the traditional companies. A second headquarters isn't going to replicate all the back office staff at the other headquarters. There won't be a dual marketing agency. There will be many operational engineers focused on government customers and working in integrators but the design and real engineers will still be on the west coast where you don't see tons of operational integration engineers. You'll see more policy and internal lobbyist/lawyer types out here but supply chain people will stay out west. Amazon is the most frugal of all the tech giants and very careful not to overspend or duplicate work. There will be additional jobs (nowhere close to 100K) for maintaining the campus like office cleaners. Amazon doesn't offer the free cafeteria and other perks that Google and Apple provide but that is good for the local economy anyway.

The 100K jobs will come from competitors and synergistic mini-partners. System integrators that help people adopt AWS and companies that build products off Amazon are one stream. The big draw will be other tech companies looking for an east coast presence and looking to poach/attract employees.

maybe you should skip the happy hour specials before you post on threads.

[Anonymous]

Anonymous wrote:https://www.bizjournals.com/washington/news/2019/03/21/jpmorgans-jamie-dimon-thinks-we-might-be.html

"Dimon said. “But the 25,000 jobs, what people don’t understand, it’s going to be another 75,000 outside of that. Because when you have a company move here, they need people who prepare meals and clean floors to engineers to marketing people to lawyers to accountants to service that whole ecosystem."

for references, Arlington has only 200k people

Yes, I think there will be more than 25,000 jobs over the next decade. The Amazon leads on the project confirmed that many other companies will come here (I believe one mid-sized company has already announced). They also said that many startups companies are birthed from Amazon employees, so obviously more jobs...

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.bizjournals.com/washington/news/2019/03/21/jpmorgans-jamie-dimon-thinks-we-might-be.html

"Dimon said. “But the 25,000 jobs, what people don’t understand, it’s going to be another 75,000 outside of that. Because when you have a company move here, they need people who prepare meals and clean floors to engineers to marketing people to lawyers to accountants to service that whole ecosystem."

for references, Arlington has only 200k people

Yes, I think there will be more than 25,000 jobs over the next decade. The Amazon leads on the project confirmed that many other companies will come here (I believe one mid-sized company has already announced). They also said that many startups companies are birthed from Amazon employees, so obviously more jobs...

Exactly. I coulda swore that I once read that Amazon and the Amazon effect of allllll of the startups and support companies surrounding the area to support amazing were actually nexpected to bring in another million people. 100,000 jobs =\= 100,000 people, because those people have spouses and children too. Probably good for current home owners. Terrible for cost of living and future want to be home owners. Also terrible for traffic and schools. This area will turn into Seattle or SF soon enough where there will be zero character and everyone will either be a consultant, a lawyer or a techie. I dunno if I want to even stay in the area. If traffic and affordability keep getting worse there is very little reason to stay. SF and the Bay Area has turned into an unlivable albatross. A horrible place I can't stand to go to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Jamie Dimon when I worked at JPM Morgan back in 2004 and he was taking over at CEO had a one trillion dollar balance sheet and a one billion IT budget. He currently has a two trillion dollar balance sheet.

He knows more than any of us so don't doubt him.

If you put your money in a stock market index in 2004 you would have more than double the money today. Maybe he does not know as much as you think he does?

Balance sheet vs stock price are not equivalent.

JP Morgan has a massive balance sheet next to Amazon. JP Morgan balance sheet is 20 times greater than Amazon

https://www.google.com/amp/s/simplywall.st/stocks/us/retail/nasdaq-amzn/amazoncom/news/what-does-amazon-com-inc-s-nasdaqamzn-balance-sheet-tell-us-about-its-future/amp/

[Anonymous]

Anonymous wrote:This area has enough jobs. Until we build more housing and infrastructure, Amazon won't be doing us any favors.

You sound so backwards

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.bizjournals.com/washington/news/2019/03/21/jpmorgans-jamie-dimon-thinks-we-might-be.html

"Dimon said. “But the 25,000 jobs, what people don’t understand, it’s going to be another 75,000 outside of that. Because when you have a company move here, they need people who prepare meals and clean floors to engineers to marketing people to lawyers to accountants to service that whole ecosystem."

for references, Arlington has only 200k people

Yes, I think there will be more than 25,000 jobs over the next decade. The Amazon leads on the project confirmed that many other companies will come here (I believe one mid-sized company has already announced). They also said that many startups companies are birthed from Amazon employees, so obviously more jobs...

Exactly. I coulda swore that I once read that Amazon and the Amazon effect of allllll of the startups and support companies surrounding the area to support amazing were actually nexpected to bring in another million people. 100,000 jobs =\= 100,000 people, because those people have spouses and children too. Probably good for current home owners. Terrible for cost of living and future want to be home owners. Also terrible for traffic and schools. This area will turn into Seattle or SF soon enough where there will be zero character and everyone will either be a consultant, a lawyer or a techie. I dunno if I want to even stay in the area. If traffic and affordability keep getting worse there is very little reason to stay. SF and the Bay Area has turned into an unlivable albatross. A horrible place I can't stand to go to.

People are looking out in PGC, especially Northern PG.

[Anonymous]

This will be great for property values if you own. Only going up.