00:00We're talking about some of this in New York as well with this plan of Mayor Mamdani's to open
00:04a city-run grocery store or maybe more than one city-run grocery store. But many people
00:08out in the world find this very upsetting, right? They see this as the first step in the slide
00:16towards communism. You seem like normal capitalists as far as I can tell. Can you talk about exactly
00:21what the relationship is and kind of how you see this conversation around city-owned grocery stores?
00:26When we were in the thick of building this, we actually had a call from Mayor Mamdani's
00:32office asking how we did what we did. And we made it very clear, you know, it should not
00:38be a city-run operation because city employees doesn't know how to run retail outlets. So
00:46we've actually discussed that. Now, talking about socialism, you know, access to fresh food,
00:52it's not socialism. It's a bare necessity need for any human being. This is not a handout
00:58from the city. What we have is a small grant and the rest, everything else is loan that we
01:04are supposed to pay back. So this is capitalism at best. So we are making sure that this becomes
01:11sustainable and pay back the loan. The only difference in this is the city is acting more
01:16like a bank. So the underwriting is a little bit more easier and it's a low interest so
01:20we can make it affordable to the people who are shopping. So this, this notion of socialism
01:25socialism is not, and this is not a handout. This is just a helping hand.
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