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From YouTube: James Chung: Why Des Moines?
Description
James Chung didn’t find Greater Des Moines – Greater Des Moines found him.
Chung is the president of Reach Advisors, a strategy, research and predictive analytics firm. Among his clients are U.S. cities wanting to peer deep into his datasets – he says he extracts data even the U.S. government doesn’t have – to flush out weaknesses, identify opportunities, and gain competitive advantages over other cities.
And among those “other cities”? Greater Des Moines, the statistical overachiever.
---------------------
The Tomorrow Plan Speaker Series is an implementation strategy of The Tomorrow Plan, offered as a resource to community leaders to learn best practices from some of the country’s leading thinkers.
The Speaker Series touches on a wide range of topics related to creating a high quality of life in metropolitan areas, including the sharing economy, the effects of transportation and housing on public health, walkability, water quality, public transit and more.
Learn more: https://dmampo.org/the-tomorrow-plan/speaker-series/
A
Well,
good
afternoon,
everybody
thanks
everybody
for
being
here.
My
name
is
J
Byers
I'm
CEO
of
the
Greater
Des
Moines
partnership
and
I
also
want
to
thank
all
of
our
sponsors
for
making
this
happen.
First
and
foremost,
the
Department
of
Cultural
Affairs
for
hosting
not
only
this
event
but
the
this
series.
So
thank
you
very
much
for
that.
A
Capital
crossroads
I'm
one
of
the
crop
try
chairs
of
that
Christy
now's,
one
of
our
other
try
chairs
this
year
today
with
the
Community
Foundation
Thank,
You,
United
Way's
a
big
part
of
that
as
well
and
Des
Moines
area
NPO.
Thank
you
for
your
sponsorship
today
and
then
also
Polk
County
and
the
science
center
of
Iowa.
Let's
give
all
of
our
sponsors
a
big
round
of
applause
for.
A
Those
of
you
who
aren't
familiar
with
the
Greater
Des
Moines
partnership-
we
are
the
regional
economic
development,
community
development
organization
serving
central
Iowa,
we're
currently
helping
lead
economic
development
now
in
eight
counties,
and
we
have
23
affiliate
chamber
of
commerce's
throughout
the
region
with
more
than
6,000
members.
Collectively
we
make
up
the
fourth
largest
regional
chamber
in
the
country,
something
we're
very
proud
of,
especially
here
on
a
beautiful
Chamber
of
Commerce
sunny
day,
so
you're
welcome
for
the
weather
today.
A
A
Cheung
and
he'll
be
sharing
a
wide
range
of
different
statistics
and
data
about
our
region,
which
I
think
you'll
find
very,
very
interesting
and
for
those
of
you
have
heard
me
speak
before
I
say
this
often,
but
over
the
course
of
the
past
decade,
our
region,
greater
Des,
Moines
or
MSA
has
outperformed
our
regional
competition
in
terms
of
other
metro
areas,
including
Kansas
City,
including
st.
Louis,
Milwaukee,
Omaha,
Minneapolis,
Chicago
in
terms
of
percentage
of
population,
growth,
percentage
of
GDP
growth
and
percentage
of
job
growth,
and
so
we've.
A
A
He's
talked
a
lot
about
it,
but
he's
never
been
here,
and
so
we're
very
excited
to
have
him
here
today
and
as
we
sort
of
look
to
the
future,
I
think
you
know
as
an
economic
developer
and
as
a
community,
our
our
biggest
enemy
is
complacency
and
the,
and
we
cannot
rest
on
our
laurels
and
it's
really
important
that
we
continue
to
figure
out
what
we
need
to
do
to
position
this
region
for
the
future.
And
what
do
we
need
to
do
to
maintain
strong
economic
growth
moving
forward?
A
And
that's
really
why
we're
all
here
today?
Also
for
those
of
you
who
know
me
that
I
I
sometimes
am
into
social
media
a
little
bit,
so
our
hashtag
today
is
hashtag
Chung,
Report
DSM,
so
there'll
be
lots
of
great
data.
Today,
so
is
we
can
get
that
conversation
going
online
as
well?
Remember:
hashtag,
Chung,
Report,
DSM,
so
without
further
ado
I'm
going
to
bring
my
new
friend
James
Chun
forward.
He
is
also
he
is
a
fellow
Midwestern
Uther
who
grew
up
in
in
Wichita.
A
He
is
currently
president
of
reach
advisors,
a
strategy,
research
and
predictive
analytics.
Firm
reach
advisors
helps
clients
understand
how
their
market
will
evolve
differently
than
known
today
and
how
their
strategy
and
capital
commitments
can
deliver
stronger
returns,
as
the
market
shifts.
Reach
advisors
has
done.
Economic
development,
work
and
tourism
development
work
for
regions
ranging
from
Vail
Colorado
to
his
hometown
of
Wichita,
Kansas
and
James
is
also
the
co-founder
of
stratum
analytics
at
data
science
firm,
generating
hyper
local
economic
and
demographic
forecasting
and
analytics
for
the
real
estate
asset
class.
A
B
Thank
You
Jay
and
Thank
You
leo.
That's,
probably
the
first
time
where
one
of
my
presentations
was
preceded
by
a
presentation
by
a
historian
talking
about
big
data
from
the
past
and
oddly
enough
I
had
a
presentation
last
night,
where
I
also
used
a
slide
from
the
census
of
1880
as
well
too.
But
if
anything,
that
probably
just
goes
to
prove
your
thesis
about
the
value
of
history
and
weaving
together,
the
past
present
and
future.
B
And
so
that's
what
we're
gonna
try
to
talk
a
little
bit
about
today
about
what
we're
seeing
from
our
data
analytics
on
des
moines.
But
before
I
go
into
the
data
part
of
it.
I
want
to
share
a
story
that
I
think
I
shared
on
a
first
call.
I
had
with
Jay,
but
I
get
asked
to
work
with
a
lot
of
companies
and
give
a
lot
of
presentations
on
trends
that
will
impact
their
futures.
And
that
was
a
meeting
with
the
executive
team
of
the
women's
division
of
one
of
the
large
global
athletic
footwear
companies.
B
And
we
were
talking
a
lot
about
all
the
trends
that
are
going
to
be
shaped,
that
they
have
shaped
and
will
shape
the
future
of
their
market
in
that
category
and
then
towards
the
end
of
that
meeting.
The
executive
vice
president
runs
a
division
asked
me:
can
you
give
us
examples
of
things
in
other
markets
where
shifts
and
women
be
women's,
behaviors,
have
shifted,
market
outcomes
and-
and
just
you
know,
any
examples
from
any
odd
industries
just
to
give
us
other
ideas
more
broadly
and
I
told
them.
B
I've
got
a
really
weird
example
of
that,
from
as
opposite
of
an
industry
as
yours
doing
athletic
footwear
and
in
the
course
of
some
of
our
economic
development
work.
We
noticed
that
there
was
this
really
odd
city
that
had
this
phenomena
where
they
were
a
magnet
for
well-educated
mid-career
talent
that
would
go
back
and
the
economic
outcomes
of
that
city
were
profound
dramatically,
outpacing
all
of
their
comp
cities
and
what
we
were
seeing
was.
B
Basically,
they
were
a
magnet
for
mid-career
women
upper
30s
who
decide
that
they
want
to
go
someplace
where
they
can
continue
staying
on
a
fast
track.
National
level
career,
but
also
have
a
life
and
choose
to
live
urban,
suburban
or
rural,
have
good
schools
available.
Have
you
no
time
with
the
families?
And
then
one
woman
stopped
me
and
said:
is
there
any
chance?
That's
Des,
Moines
and
I
said.
B
How
did
you
know
and
she
said
it's
because
almost
all
of
my
closest
friends
from
high
school
have
all
scattered
all
across
the
country
and
about
half
of
them
move
back
and
the
rest
of
us
are
all
talking
amongst
each
other,
whether
we
should
move
back
and
I
thought
wow.
Okay,
so
she
picked
out
the
city
and
she
helped
fill
in
some
of
the
details.
And
then
there
was
a
woman
next
to
her
dressed.
All
in
black
obviously
must
have
grown
up
in
New,
York
City
and
she
says
I.
B
Never
in
a
million
years,
would
have
thought
of
Des
Moines,
but
after
hearing
that
I'd
actually
consider
it
and
then
the
executive
vice
president
chips
in
next
and
says
you
know
what,
if
we
weren't
strapped
to
this
company,
our
Division
Headquarters
should
be
in
Des,
Moines
and
I
was
thinking
wow,
it's
a
lesson
that
we
often
try
to
convey
to
our
clients
that
a
brand
is
not
what
you
say
about
yourself.
It's
about
what
others
say
about
you,
and
that
was
a
pretty
good
example
des
moines
has
a
brand
among
the
audience.
That
knows
it.
B
B
When
you
type
that
query
into
Google,
you
get
responses
like
Des,
Moines
Iowa,
how
America's
Dulles
City
got
cool
yo,
Des,
Moines
Iowa
is
actually
cool
and
you
start
saying
things
like
that.
You
don't
see
that
I
tested
some
other
cities
that
are
in
your
comp
cities.
You
don't
see
that
on
those
you
get
Wikipedia
as
the
top
answer
versus
how
America's
bela
said
he
got
cool
I.
B
Take
that
that's
pretty
that's
pretty
great,
going
beyond
Google,
which
actually
is
one
of
America's,
with
the
world's
most
phenomenal
big
data
sets
beyond
these
queries
the
one
of
the
c-level
officers
at
at
Google.
Let
me
peer
into
a
tool
they
had
to
compare
how
cities
searched
and
I
was
looking
at
a
Midwestern
city
versus
and
seeing
what's
the
most,
you
know
what
are
the
most
similar
cities
and
it
was
the
comp
cities
in
terms
of
how
people
search
and
then
what's
the
most
opposite
city.
B
Okay,
you
know
people
in
places
like
Des
Moines,
most
opposite
from
people
like
New,
York
and
LA,
okay,
that
makes
sense
and
then
I
started,
comparing
what's
the
difference
between
Des
Moines
and
other
cities
in
terms
of
Google
searches
of
as
comp
cities,
and
it
was
really
amazing
because
in
some
other
cities
the
difference
is
defining.
Other
cities
are
what
I'd
characterize
as
are
challenging
divisive
issues
versus
in
Des
Moines,
where
Google
spikes
compares
this
comp
cities
is
it's
searching
a
lot
of
happy
things?
B
You
know
just
things
about
enjoying
life
and
that's
what
defines
the
Boyne
searches
versus
its
comp
cities,
because
that
is
an
incredible
big
data
set
one
that
we've
been
mining
for
other
things.
But
let's
take
a
look
at
other
types
of
data.
This
is
what
started
the
process
of
us
understanding.
Why
Des
Moines
is
stuff
that
Jay
was
referring
to,
for
example,
you
know
real
gross
domestic
product
growth
for
Des
Moines
has
been
increasing,
37
percent
since
the
start
of
the
decade,
but
37
percent
big
deal.
B
What's
that
mean,
but
just
look
at
it
and
compare
some
of
the
other
cities
that
are
only
basically,
it's
double
the
performance
of
any
of
the
comp
cities.
Midsize
cities
in
the
central
us,
some
of
them
have
no
economic
growth.
There's
a
lot
of
good
stuff.
You
can
do
in
a
city
when
you're
performing
like
that,
it's
a
you
know,
that's
not
just
a
Des
Moines
is
number
one,
but
Des
Moines
is
an
outlier.
Basically
the
figured
out
for
the
average
for
these
comp
cities.
B
You
basically
have
to
remove
Des
Moines,
because
it's
such
an
outlier,
it's
not
just
overall
GDP
growth,
things
like
GDP
per
capita.
You
know
basically
Des
Moines
workers
are
way
more
productive
than
workers
in
other
cities
in
terms
of
their
share
of
gross
domestic
product.
That
they're
producing
that's
a
significantly,
not
just
number
one,
the
comp
set,
but
in
a
different
category
that
you
don't
see
in
this
comp
set.
B
What
does
this
macro
level
stuff
have
to
do
at
an
individual
level?
Well,
you're,
better
off
in
Des,
Moines.
Take
a
look
at
factors
like
compared
to
other
Midwestern
cities.
Average
household
income
is
$11,000
higher
average
home
value,
$52,000
higher
average
net
worth
$80,000
higher.
So
these
vague
macro
statistics
actually
play
out
on
an
individual
household
level
as
well,
very
positively
in
a
different
way
than
would
happen
here
and
actually
I'll
step
aside
from
the
slides.
B
Half
the
young
adults
in
America
have
not
matched
the
level
of
economic
level
that
their
parents
had
at
that
point
in
life,
because
this
used
to
be
the
country
where
you
assumed
you
would
do
better
than
your
parents,
half
of
nought,
but
I
started
looking
granularly
and
deconstructing
their
data
on
a
city
by
city
level.
That's
the
case
in
most
Midwestern
comp
cities
and
actually
some
Midwestern
comp
cities.
The
majority
will
not
match
the
level
of
the
parents
except
in
Des
Moines.
B
If
you
have
children
in
the
Moines,
it
is
much
more
likely
than
almost
any
other
city
in
America
that
your
children
will
do
even
better
than
you,
and
then
they
were
able
to
track
people
who
move
to
Des
Moines.
Basically,
if
they
move
to
Des
Moines,
their
children
have
better
outcomes
than
their
peers
who
stayed
or
if
you
move
out
of
Des
Moines.
The
children
actually
have
lower
economic
outcomes,
because
it's
just
that
powerful
air
I
would
say.
B
That's
one
of
the
most
amazing
data
analyses
we
came
across
is
like
the
power
of
what
it
does
for
children,
family
and
I.
Now
see
why
it's
such
a
magnet
for
those
Iowans
who've
dispersed
across
the
country
to
come
back
from
just
the
anecdotal
story.
We
had
starting
this
presentation
and
others
are
noticing.
You
know
the
this
city
is
littered
with.
You
know
number
one
number
two
number
three
rankings
showing
up
in
the
media
and
then
also
when
my
analyst
was
working
on
preparing
this
stuff
for
another
city.
B
B
We
also
do
other
types
of
analysis
too,
so
we
went
through
hundreds
of
these
kinds
of
analyses
and
des
moines
was
almost
always
number
one
in
its
comp
category.
Among
comp
cities,
comparable
population,
comparable
geography,
typically
top
10%
of
the
country
phenomenal,
but
then
there's
another
level,
and
that
was
on
hundreds
of
different
type
of
pieces
of
analysis.
Then
there
was
also
other
stuff.
We
did.
We
also
did
basically
micro
polling
in
comp
cities
about
attitudes
and
we
were
seeing
in
Des.
Moines
people
do
think
different.
B
So
we
asked
the
question
of
you
know
if
you
could
have
your
choice,
would
you
stay
in
your
city
or
when
you
leave
and
basically
what
we
had
I'll
absolutely
stay
where
I
am
des
moines
number
one
I'd
love
to
leave,
or
leaving
now
des
moines
absolute
lowest,
never
mind
that
it's
44
percent
J's,
there's
thinking,
okay,
44
percent
I'm
we're
spent
another
56
percent.
We
we
don't
worry
about
the
numbers.
B
We
just
use
it
for
relative
sense,
so
think
of
it
as
we're
number
one,
but
it's
clear
compared
to
your
boat,
the
city's
most
like
you,
people
feel
a
little
bit
differently
about
Des
Moines,
so
individuals
are
also
voting
in
different
ways.
You
know
asking
about
the
optimism
of
there's
the
future
of
the
city.
Again,
Des
Moines
number
one
compared
to
your
closest
comp
cities.
So
there's
no
question
about
it.
There's
something
different
here,
which
is
what
God
is
really
interested
in
Des
Moines.
B
Even
though
Des
Moines
wasn't
a
client
isn't
a
client,
it
was
just
fascinating.
So
we
wanted
to
deconstruct
what
makes
a
city
that
performs
that
level.
What
are
the
drivers
behind
that
and
one
of
the
factors
that
we
noticed
was
difference
number
one.
An
abundant
labor
market,
like
the
story
we
opened
with
is
high
talent,
that's
choosing
to
move
back
to
Iowa
or
move
to
Iowa,
and
so
here's
one
way
to
look
at
it
is.
B
There
is
a
very
clear
market
metric
of
it
called
net
migration
number
of
people
who
move
in
versus
number
of
people
who
move
out
and
if
you
take
a
look
at
net
migration,
you
know
in
the
this
decade,
Des
Moines
has
seen
32,000
that
this
is
not
counting
births
and
deaths.
So
it's
not
total
population.
It's
what
we
view
is
the
vote
count
people
voting
with
their
feet.
B
32,000
people
have
voted
with
their
feet
to
say,
I'm
going
to
Des
Moines,
compare
that
to
other
cities.
It's
not
quite
at
like
Nashville
Oklahoma
City
in
Austin
levels,
yet
they
they
are
moving
for
very
different
reasons,
but
compared
to
your
closest
comp
cities.
Actually,
we
were
looking
at
analysis
from
LinkedIn
about
who
moves
in
who
moves
out
des
Moines?
Is
pulling
people
from
from
Omaha
pretty
aggressively
des
moines
theatres
market
used
to
be
the
state
of
Iowa?
B
It's
now
sucking
talent,
out
of
them
out
of
Omaha
fairly
aggressively,
and
also
we
see
that
basically,
it's
dispersion
from
other
markets
is
a
lot
of
Iowans
moving
back
in
or
Iowa
family,
but
it's
cleaning
up
compared
to
the
other
cities.
Take
a
look
at
some
of
the
others
like
Milwaukee
Chicago
and
st.
B
Louis
that
are
bleeding
people,
quite
frankly,
I
think
that
might
be
more
of
your
market
atheria
when
you
think
about
talent,
the
future
Minneapolis,
which
is
like
the
shining
star
of
the
central
us
only
at
432
people,
net
migration,
this
decade
versus
32,000
in
Des,
Moines,
pretty
huge
difference,
and
would
this
mean
on
a
macro
level,
as
we
think
about
like
these
moves?
Is
that
positive
Denese
domestic
net
migration
has
a
real
dollar
impact.
B
So
let's
compare
to
another
comp
City,
just
for
the
you
know,
2015
to
2016,
because
we
you
know
based
on
when
we
last
ran
the
data.
You
know
net
game
2,000
households
versus
in
other
cities
lost
778
households,
so
the
the
aggregate
income
that
came
into
the
Moines
was
110
million
dollars
the
lost
income,
yet
an
almost
identical
city
was
67
million,
so
in
other
words,
there's
a
hundred
seventy
million
dollars
more
of
income
coursing
through
the
city
than
there
is
in
a
city
that
in
many
ways
demographically
is
identical.
B
Geographically,
is
identical
to
Des
Moines,
it's
that
so
there
are
a
lot
more
houses
sold
cars
sold
restaurant
meals
served
when
that
kind
of
stuff
happens.
It's
why,
when
I
landed
in
the
Des
Moines
Airport
I
realized
wait
a
second.
This
is
a
lot
busier
than
some
of
the
other
midsize
cities,
I
know
well
or
the
mid-size
city,
where
I
live
most
of
my
year.
This
is
a
lot
busier
and
then
I
go
through
downtown
and
realize
hey,
wait.
A
second.
The
downtown
is
a
lot
more
active.
B
You
know,
there's
a
reason
why
Des
Moines
has
things
going
on
that
other
cities
this
size?
Don't
you
know
part
of
it
is
basically
we're
in
a
hot
economy,
and
this
is
basically
size
of
labor
force.
The
dark
blue
is
us
light.
Blue
is
Des
Moines,
you
know,
labor
force
in
Des.
Moines
is
climbing
just
like
the
rest
of
the
US,
but
not
true
in
every
other
City
and
a
lot
of
comp
cities.
B
Labor
force
is
declining,
which
explains
why
they
have
a
they
can't
attract
the
kind
of
employers
at
the
Moines
attracts
they
can't
retain
the
kind
of
employers
that
the
Des
Moines
attracts
you're
tracking
nationally,
although
once
again
there
is
a
little
bit
concern
that
it's
sort
of
flattening
you
had
a
huge.
This
is
part
of
what
fueled
the
dramatic
growth
is.
You
had
abundant
labor
force.
Now
it's
pretty
tight
I
mean
it's
it's
yeah,
and
so
it's
question
is
how
do
you
that
and
let's
take
a
look
compared
to
other
comp
cities?
B
Basically,
you
know
in
terms
of
adults,
there's
a
fear
very
identical
comp,
City
to
Des
Moines,
geographically
demographically,
almost
the
same
size
except
Des
Moines
as
a
little
bit
smaller
adult
population,
but
look
at
the
labor
force.
You
know
it
had.
You
know
nineteen
thousand
fewer
adults,
but
seventeen
thousand
more
people
in
the
workforce
and
that's
part
of
the
phenomena
that
we
saw
just
in
that
anecdote
chaired
at
the
start,
is
that
people
choose
to
come
here
because
they
can
have
more
robust
lives
here
in
every
respect.
So
you
have
larger
labor
force.
B
Then
you
see
in
other
cities
and
what's
the
impact
of
a
deep
labor
force?
Well,
it's
a
lot
easier
for
businesses
to
grow
here
and
it's
a
lot
easier
to
track
new
businesses
when
you
have
an
abundant
educated
labor
force,
that's
one
of
the
things
that
certainly
sets
out
Des
Moines,
where
it's
maybe
hard
to
realize
when
you're
living
in
the
midst
of
it.
But
it
truly
is
different
than
other
cities
like
Des
Moines.
B
Let's
go
to
the
next
point
of
difference,
and
that
is
it's
not
just
sighs
a
labor
force.
It's
the
size
of
a
college,
educated
workforce,
that's
different
here
as
well
too,
compared
that
comp
City,
which
is
almost
identical
same
size.
When
you
take
a
look
at
it
across
levels
of
education.
You
know
basically
number
of
high
school
graduates
is
about
the
same
number
of
with
some
college.
B
Associate's
degree
is
about
the
same,
but
the
blue
bar
Des
Moines
when
it
comes
to
bachelor's
degree,
significant
difference
in
the
population,
that's
college
educated,
which
is
why
it
can
fuel
certain
businesses
that
some
others
don't
see
so,
but
it's
not
only
good
for
the
businesses.
There's
also
something
else
that
we
noticed
when
we
were
running
a
meta
analysis
of
this,
that
for
every
one
percent
gain
that
the
city
has
in
educational
attainment.
B
B
It
does
not
just
accrue
to
the
individual.
It
accrues
to
the
entire
community,
which
is
why
it's
fundamentally
a
stronger
community
and
it's
why
we're
seeing
it
show
up
in
the
economics
now.
Another
explanatory
factor
that
we
noticed
was
so
different
from
other
cities
is
mid-career
talent,
strength.
This
is
where
the
numbers
really
pop
and
oh
boy
that
photo
didn't
large,
that
well
on
the
big
screen,
but
I
think
that's
one
of
the
leadership
Des
Moines
or
leadership.
Iowa
classes
there
in
case
any
of
you
recognize
yourself
highly
pixelated,
but
what
here's?
B
Thirty
forty
four
basically
grew
34%,
since
it
started
the
decade
a
more
than
a
third
versus
just
14%
for
the
rest
of
the
u.s.,
a
pretty
phenomenal
difference
and
as
we
pick
it
apart,
further
I'll
actually
jump
out
of
my
presentation
here,
because
I've
got
a
firm
that
does
this
data
science
work
on
doing
hyperlocal,
analytics
and
there's
something
we
noticed
about
Des
Moines
yeah.
This
will
show
up
on
the
screen.
Okay.
B
So
when
we
take
a
look
at
the
Moines
MSA
and
then
we
take
a
look
at
educational
attainment
where
it's
really
poppin,
I
pulled
it
up
in
advance
and
basically,
when
we
looked
across
all
the
age
bands
by
five
year,
age
bands
we're
really
spiked.
Was
this
green
bar
35
to
39
years
old
that
sweet
spot
where
des
moines
probably
grew
a
higher
percentage
of
population
than
probably
just
about
any
city
in
the
country
35
to
39
year
old,
college-educated,
households?
B
It
was
those
women
sitting
around
that
boardroom
table
at
a
global
company.
Saying
gee,
you
know
my
friends
are
saying
we
should
might
want
to
go
back
to
the
Moines.
That's
the
audience!
That's
coming
back
a
higher
rate
than
other
cities.
Other
categories
were
growing
too
I
mean
we
can
show
them,
but
that
was
the
one
that
had
the
steepest
slope
and
you
know
what
it
shows
up
in
is:
let's
take
a
look
at
you
know:
household
income
for
that
same
age
bracket,
basically
dramatic
growth
of
household.
B
When
we
look
at
35
to
39
year
olds,
income,
100,000
plus,
we
saw
a
very,
very
steep
growth
curve
on
that.
That
typically
doesn't
happen
in
other
cities.
So
that's
just
an
example
of
going
even
more
as
we
dig
deeper
and
deeper
into
this.
What
we
see
happening,
the
phenomenon
we
see
happening
here,
that's
a
little
bit
different
than
what
we
see
in
other
cities
and
those
are
just
pronounced
in
case
that
didn't
work
out
online.
There's
a
fourth
huge
difference
that
the
finds
part
of
what
makes
Des
Moines
so
different.
B
That
is
out
sized
community
investment
that
hardly
exists
in
cities
of
this
size.
There
are,
if
we
take
a
look
at
the
non
coastal
us
midsize
cities.
There
are
only
three
others
that
are
investing
as
heavily
in
Des,
Moines
and
actually
Des
Moines
is
the
smallest
of
those
they're
investing
heavily
in
their
own
cities.
Scott.
You
wish
they'd,
invest
in
Des
Moines
as
well
too,
but
there
were
only
three
other
cities
that
are
making
huge
outsized
commitments
in
investments
in
their
city
and
des
moines
is
the
smallest
of
them.
B
B
If
you
take
a
look
at
downtown
des
moines
hotels
in
development,
there's
ten
times
more
investment
of
that
than
this
happening
in
cities
of
its
same
size,
when
you
look
at
downtown
residential
development
five
times
more,
that
happening
than
in
cities
of
Des
Moines
sized
downtown
commercial
development
five
times
more
than
is
happening
in
other
cities,
you
have
that
size.
You
know
mega
project
investments
five
times
more
than
cities
are
the
same
size.
You
gotta
love
that
ratio
same
population
five
times
more
investment.
It's
no
wonder!
Things
are
different
here.
B
It's
a
city
that
believes
in
itself.
It's
a
city,
that's
investing
itself
investing
in
the
future
and
it's
showing
up
economically
it's.
What
explains
that
difference.
A
big
piece
of
what's
explain
that
difference
of
Des
Moines
over
performance.
Then
we
took
a
look
at
measures
of
philanthropic
investment.
Of
course,
there's
no
perfect
measure
of
that,
but
just
one
proxy
measure
that
is
community
foundation
size
compared
to
cities
like
Wichita,
Cedar,
Rapids,
Grand
Rapids,
which
is
actually
about
twice
as
large
as
Des
Moines.
B
Yet
because
there
is
a
comp
city
that
is
higher
but
yeah
they
do
have
the
benefit
that
the
the
the
leading
player
there
does
not
necessarily
bent
does
not
necessarily
invest
in
Omaha,
but
there
were
a
bunch
of
his
buddies
that
invested
early
money
in
his
vehicle
who
share
their
money
back
in
Omaha.
So
they
have
a
little
bit
of
an
exogenous
factor
that
helps
out
on
that,
but
still
yep,
don't
not
to
take
it
away
from
Des
Moines
it
just
in
every
measure.
B
We're
looking
at
is
stronger
than
what
you
would
expect
or
stronger
than
what
we
see
in
other
comparable
cities.
But
there
are
three
challenges
that
we
see
that
for
cities
that
don't
pay
heed
to
them.
We
would
be
worried
because
these
are
powerful
forces
that
basically,
you
can't
overcome
with
status
quo
action,
but
you
can
address
them
if
you
know
about
them,
we're
going
to
just
put
them
on
the
table
right
now
for
the
city
and
the
region
to
think
about.
B
Basically,
three
fundamental
challenges
significant
shifts
that
we
see
that
are
entering
next
decade
and
by
the
way
the
title
of
my
presentation
last
night
was
about
digital,
and
you
know
the
digital
and
algorithmic
reality.
The
2020s
asterisk
asterisk
said
the
2020s
are
only
15
months
away,
but
this
is
what
this
is.
What
you're
gonna
be
seeing
across
all
cities
like
Des,
Moines
and
all
of
America,
and
the
question
is
how
DesMoines
responds
and
reacts
them
proactively.
B
B
B
I've
got
that
down
a
science
firm
that
does
like
this
extreme
local
analysis,
and
one
of
the
things
we
can
do
is
we're
the
only
firm.
That's
figured
out
how
to
deploy
financial
portfolio
modeling
theory
to
calculate
alphas
and
betas,
like
they
do
for
stock.
First
for
equity.
For
the
equities
market
and
to
explain
it,
alpha
is
basically
the
level
of
risk
adjusted
and
cyclically
adjusted
over
performance,
in
other
words,
compared
the
circumstances
that
you
are
in
on
a
macro
national
level.
B
Are
you
doing
better
than
the
rest
economy
or
worse
than
the
rest
of
the
economy,
and
the
average
is
zero
alpha
and
then
beta
is
the
level
of
the
coke
allottee?
Are
you
more
cyclical
or
less
cyclical
than
the
US
economy?
What
defines
the
Des
Moines
economy
is
its
high
beta,
and
let
me
show
you
sort
of
the
extreme
of
that.
Let's
pop
back
to
some
of
the
online
tools
and
go
up
here,
let's
go
to
market
overview
where
we
can
see.
Basically,
what
we
calculate
is
the
beta
of
Des.
B
B
Some
of
their
success
is
viewed
when
you
chart
it
against.
You
know
basically
Des
Moines
again
is
the
blue
grey
line
versus
purple
as
the
US
Des
Moines
has
outperformed
the
u.s.
since
2000,
which
is
great,
but
when
you
think
about
it
in
terms
of
the
context
of
the
economic
cycles
of
the
u.s.
here's.
What
we
see
is
that
basically
we
had
an
economic
slowdown
here.
Des
Moines
pulled
out
of
that
at
a
faster
rate
than
the
US.
So
that's
part
of
what
explains
it,
and
then
there
was
a
downturn.
B
B
Had
the
Moines
not
made
those
kinds
of
investments,
it
probably
would
not
have
grew,
it
would
probably
not
have
been
able
to
ride
the
high
beta
and
drive
that
kind
of
return.
So
it's
basically,
you
know
summits
timing.
Some
of
this
luck.
Some
of
it
is
because
of
the
sustained
investment
through
the
cycles
that
allow
that
to
climb
faster
than
the
rest
of
us,
but
what
we
can't
do
in
my
dad,
a
sob
shop
is
tapas.
B
We
can't
predict
what
month
the
next
downturn
is
going
to
be
or
level
submit
severity,
but
we
can
predict
how
local
markets
are
going
to
respond
to
that,
but
as
a
high
bay,
the
economy,
the
flipside
that
is,
it
will
regress
towards
the
mean
again,
it
just
will,
and
so
there
are
a
couple
things
that
we
encourage
clients.
A
lot
of
our
clients
are
high
beta.
We
do
a
lot
of
stuff
in
very
large
scale,
real
estate
development,
their
high
beta
to,
and
so
we
spend
a
lot
of
time
with
our
clients.
B
Thinking
about
issues
like
well.
How
do
you
recession
proof
your
economy,
so
you
don't
take
as
deep
of
a
hit
before
and
then
there's
a
flip
side
for
that
as
well,
and
that
is
going
back
to
this
now.
Let's
talk
about
the
Alpha,
because
this
is
maybe
for
the
hardest
thing
that
probably
the
city
does
not
necessarily
want
to
hear,
but
when
we
calculate
alpha
for
DES
Moine
zero
alpha
in
this
economy,
in
other
words,
absolutely
average,
which
is
not
a
bad
thing.
B
So
it's
not
because
it's
just
you
know
inherent
Des,
Moines
exceptionalism,
it's
like
the
rest
of
the
country
when
it
comes
to
alpha,
and
so
it's
thinking
about
well.
So,
as
we
talked
about
in
this
kind
of
situation,
how
do
you
recession-proof
economy
also
think
about?
Well?
How
do
you
inject
a
higher
level
of
alpha
in
the
economy?
Like
you
know,
part
of
what
this
describes.
The
like
examples
of
high
alpha
communities
on
Austin
Nashville
are
super
high.
B
B
So
challenge
number
three:
is
the
disruptive
innovation
on
the
horizon
or
is
disruption
innovation
going
to
be
at
the
cost
of
Des
Moines?
Or
is
it
an
opportunity
to
inject
more
alpha
in
the
economy?
And
so
some
of
the
questions
that
the
Moines
has
to
start
asking
itself?
Is
its
Des
Moines,
going
to
be
really
proud
of
what
the
city
has
done
in
rely
on?
What's
worked
in
the
past
or
is
Des
Moines
willing
to
say
we're
gonna
reinvent
as
the
economy
evolves
we're
not
going
to
rely
on
our
playbook
of
the
past.
B
Des
Moines,
as
you
well
know,
has
a
very,
very
high
location
quotient
in
the
fire
insurance
real
estate
industry.
You
know
the
fire
industries,
financial
insurance,
real
estate,
one
third
of
the
GDP
of
Des
Moines-
is
concentrated
in
that
sector.
That's
a
huge
heavy
concentration
and
most
of
those
companies
are
dramatically
are
inventing
of
themselves
like
finance.
Like
you
know,
Goldman
Sachs
is
now
one
third
computer
programmers.
They
say
every
computer
programmer,
they
add,
eliminates
four
jobs
of
analysts
and
traders.
B
You
know,
and
so
that
end
and
even
further
every
one
computer
they
add
who's
fresh
out
of
college
is
eliminating
for
jobs
of
people.
Deep
into
the
six
figures
you
know
so
that
industry
is
reinventing
itself,
we're
all
States
a
little
bit
slower.
My
data
science
firm
is
there
and
they're
slower
to
take.
But
you
know
this
is
the
bread
and
butter
of
the
city,
and
so
you
have
to
ask
the
question:
what
happens
when
advancements
and
things
like
you
know,
yeah,
yeah,
artificial
intelligence?
B
You
know,
machine
learning
ends
up
replacing
jobs
like
accountants,
actuaries
agents
claims,
adjusters,
customer
service,
reps
examiners,
investigators
lost
control,
specialists,
Marketing,
Manager,
salespeople
underwriters.
You
do
have
to
start
asking
about
that
question
because
that
day
is
coming.
I've
got
a
data.
Science,
firm,
that's
replaced
40%
of
my
former
work
and
some
of
my
former
team.
That
day
is
that
day
is
coming
and
it's
you
know
my
business
partner
over.
There
is
a
25
year
old
kid
and
he's
replaced
a
lot
of
my
work
and
roll
out
my
job
yeah.
B
That
company
decided
we're
gonna,
be
a
digital
company
in
a
non
digital
industry
and
their
stock
performance
has
been
outpacing
others
through
most
of
their
their
publicly
traded
peers
through
most
cycles,
and
it's
forced
everyone
else
in
the
industry
to
follow
with
that
kind
of
product.
They
have
reshaped
it,
and
so
all
the
incumbents
are
in,
but
then
recently
there's
a
new
player
in
that
category,
where
you
stuff
to
get
someone
to
plug
it
into
their
car
and
God
knows,
I
was
not
gonna.
B
B
This
company
is
basically
it's
founded
by
a
guy
who
started
at
Nationwide
Insurance
in
the
training
program
after
college
three,
and
he
stayed
there
for
three
years,
so
he's
really
junior.
Then
he
launched
this
company
and
has
built
it
for
the
last
three
years.
Their
latest
funding
around
last
month,
just
value
that
is
a
billion-dollar
company,
so
he's
six
years
out
of
school.
Does
anybody
know
where
he
was
seven
years
ago?
B
His
Alex
was
at
Drake
seven
years
ago,
okay,
great
applause,
but
you
let
him
escape
it's.
This
is
an
example
of
where
there's
massive
new
value
creation,
because
venture
capitalists
are
betting
they're,
going
to
eat
the
lunch
of
some
of
the
traditional
firms,
and
so
and
quite
frankly,
they
are
already
making
pretty
good
headway
on
that
there's
a
lot
of
talent
here,
some
of
it
escapes
some
of
its
coming
back,
but
maybe
not
all
of
it
that
you
want
here.
It's
part
of
how
to
think
about.
B
There's,
disruptive
innovation,
that'll
change,
the
nature
of
the
industries
that
exist
here
and
the
question
is
you
want
some
of
that
alpha
here?
Here's
another
example
of
industry
of
digital
transformation
from
industry
known
here,
and
that
is
that
in
the
life
insurance
underwriting
category
there
variables
that
are
very
predictive
of
mortality
rates,
and
when
you
rank
the
variables
number
one
is
obviously
age,
insurance
cost
more
the
older,
you
are
genders
number
two
women
live
longer
than
men,
and
then
there
are
a
bunch
of
health
factors.
B
Now
this
is
well
known
in
the
insurance
industry
that
have
been
using
actuaries,
been
running
these
numbers
and
there's
very
good
data
on
this,
but
notice
there's
a
little
bit
of
gap
up
there
and
the
reason
why
there's
a
gap
up
there
is
that
we.
Why
did
something
out
is
that
there
was
a
factor
that
was
even
more
predictive
for
mortality
than
anything
else
other
than
age,
but
no
one
knew
it
until
a
new
data
source
came
along.
You
know
basically,
11
years
Steve
Jobs
announced
this.
Ten
years
ago,
Google
announced
Android.
B
You
got
things
like
this
now
and
so
all
of
a
sudden,
we
have
new
data
to
realize.
The
number
steps
you
take
each
day
is
more
predictive
than
any
other
health
factors
on
mortality
rate
and
so
John
Hancock
released
the
vitality
product
where,
basically,
if
you're
gonna
get
underwritten
by
John
Hancock,
you
have
to
wear
a
fitness
tracker
at
this
point,
so
they
can
manage
their
risk
a
lot
more
effectively.
B
This
is
the
world
that
we're
entering,
and
also
this
is
the
business
of
Des
Moines,
and
the
question
is:
is
the
morn
going
to
be
leading
this
or
is
the
main
point
the
Moines
going
to
be
the
incumbent
that
has
the
lunch
eating
their
lunch
eating?
So
at
this
point,
I'm
gonna
close
it
by
just
saying
it's
up
to
you
to
choose
your
own
future
here.
B
Going
back
to
you,
know
big
data
from
history
and
looking
at
census,
data
in
1910,
the
u.s.
census
counted
professions
like
blacksmithing
between
1910
and
1930,
the
number
of
blacksmiths
in
America
reduced
by
50%.
Because
of
that-
and
actually
it's
even
worse,
another
federal
agency
tracked
the
number
of
horses
in
America
and
in
50
years
there's
only
one
percent,
the
number
of
horses
than
there
were
in
1910.
You
don't
want
that
job.
You
know
so
yeah
anyway.
B
So
you
know
that's
part
of
the
change
that
has
happened
through
time
and
is
happening
now
at
an
even
faster
rate.
But
what
happened?
Those
blacksmiths,
half
of
them,
lost
their
jobs.
Most
of
them
had
to
find
other
livelihoods
that
might
not
have
been,
as
you
know,
as
the
renew
Merida
vis
that,
but
some
of
them
took
the
blacksmithing
shops
and
did
this
instead
and
rode
the
next
wave,
and
so
the
question
that
I'm
posing
for
you
is
what
is
the
moines
next
wave?
C
Thank
you.
Everyone
for
coming
out
for
the
tomorrow
planned
speaker
series
who
really
appreciate
your
being
here.
James
is
going
to
make
himself
available
for
the
next
half
hour
and
Christian
Eskie
will
be
moderating
that
discussion,
but
if
you
do
need
to
leave
at
this
time,
you
are
welcome
to
do
so
one
more
thanks
for
James
and
our
sponsors.
D
Good
afternoon
my
name
is
Kristen
ASCII
I'm,
the
publisher
for
the
business
record,
James,
fantastic
I,
think
we're
videoing
this
and
so
for
everybody
that
wants
to
use
us
to
help
convince
people
to
come
back
to
Des,
Moines
I
think
you've
got
the
you
you've,
given
us
the
presentation
that
we
can
just
put
on
play
for
them
so
appreciate
that
what
I
would
love
to
do
is
we're
gonna.
Ask
I,
would
love
for
questions
from
the
audience.
D
D
F
B
So
the
other
cities
that
we
compared
and
we
have
we
built
various
comp
sets
by
you-
know
a
couple
different
measures
and
the
cities
that
we
flagged
that
we
had
super
heavy
level
investments
on,
but
very
different
strategies.
Oklahoma
City,
which
is
a
significant
larger
city,
Grand
Rapids
Michigan,
was
another
one
of
them
and
I
am
trying
to
think
when
I
said
that
there
was
a
third
flash.
That
will
probably
come
back
to
me,
but
I'll
start
talking
about
the
first
to
Oklahoma,
City
and
Grand.
B
Rapids
are
both
Midwestern
cities
over
a
million
population
under
two
million
I
think
yeah
I'm,
pretty
sure
Oklahoma
City
is
under
two
million.
They
went
through
very
different
paths.
Both
are
cities
that
had
that
hit
rough
patches,
and
it
was
the
rough
patches
that
helped
them
turn
themselves.
Around
Grand
Rapids
is
a
very
heavy
manufacturing
driven
city.
It
basically
was
the
furniture
making
capitalist
the
office,
furniture,
making
capital
of
the
world,
and
so
it's
very
cyclical.
B
There
are
it's
also
a
city
that
has
been
very
philanthropic,
inclined
and
there's
basically,
a
billion
dollars
of
investment
going
into
that
city
right
now,
they've
had
different
waves,
but
there
are
very
significant
philanthropic
investment
and
it's
a
city
that
is
also
despite
the
and
I.
Don't
want
to
say
this
in
any
valid
a
sense
of
laying
value,
but
just
it
does
it
doesn't
matter
in
the
context
of
things
that
even
given
the
politics
of
city
leaders,
they
still
work
with
government
fairly
effectively
on
on
investments
in
their
city.
B
So
they've
got
a
lot
of
money
pouring
in
I.
Personally
think
there
are
some
things
they
invested
in
which,
based
on
our
data,
don't
deliver
the
same
level
returns
they
could
have,
but
they
had
enough
investment
going
into
the
city.
That
is
creating
a
turnaround
for
that
city.
It's
just
their
investments
aren't
necessarily
in
the
areas
that
are
driving
the
kind.
The
performance
growth
at
the
moines
in
Oklahoma
City
are,
but
it's
driving
positive
growth.
So
that's
one
example
that
has
outsized
commitment,
financial
commitment,
the
city,
Oklahoma
City,
went
down
a
different
path.
B
Oklahoma
City
was
another
one
of
those
stagnant
cities
that
basically
there
was
no
growth,
they
lost
the
generation
of
leadership
that
did
not
come
back
to
the
city.
They
were
a
city
that
just
could
not
turn
itself
around
the
turning
point
when
I
was
talking
to
mayor
about
this.
The
turning
point
was
that
they
thought
when
the
biggest
corporate
moves
in
America
was
moving
the
maintenance
facility
for
United
Airlines,
and
they
thought
they
had
that
nailed
all
the
facility.
They
would
ever
want
the
best
financial
package
that
they
want,
that
they
could
ever
get.
B
They
thought
that
they
had
a
lock
on
that
and
only
one
other
competitor
where
they
thought
that
they
were
much
much
stronger.
They
thought
they
had
a
lock
on
that,
but
United
chose
elsewhere.
They
said
they
chased
them
down
for
two
years,
trying
to
get
an
explanation.
Why?
Because
they
went
silent.
Finally,
they
cornered
them
at
some
event
and
asked
why
didn't
you
choose
Oklahoma
City
I
thought
we
I
thought
this
was
perfect.
I
thought
we
all
thought
this
was
perfect
and
the
guy
said
here's
the
problem.
B
We
took
our
18
top
managers
and
their
spouses
to
both
cities
and
no
one
said
they
wanted
to
move
to
Oklahoma
City.
They
said
that
was
a
turning
point
and
that's
why
a
a
Republican
administration
in
a
deeply
red
state
said
we're
gonna,
have
the
maps
plan
we're
gonna,
have
a
comprehensive
yeah.
We're
gonna
have
a
comprehensive
plan
to
raise
money
through
various
means,
and
so
basically
it's
through
tax
levies
that
they've
been
investing
basically
near
billion
dollar
investments
multiple
times
and
that's.
B
B
There's
a
lot
of
construction
going
on
there
now
once
again,
I'm
not
sure
some
of
the
things
they
spent
on
we're
necessarily
the
best
bets,
but
they
are
deploying
enough
capital
where
it
made
a
decisive
difference
and
why
they
have
such
stronger
growth
than
other
places,
and
they
are
hyper
aggressive
about
grabbing
business
based
on
the
stuff
that
they
had.
So
those
are
two
examples
of
some
of
the
comp
cities
that
we
looked
at,
that
we're
investing
more
than
what
we
saw
in
cities
of
relative
sizes.
B
Des
Moines
also
has
that
kind
of
magnitude
of
investment
are
going
on,
but
it's
also
without
characterized,
as
maybe
a
more
organic
mix
of
investment.
So
there's
not
as
much
of
a
rush
of
capital
against
certain
things
that
have
less
market
return,
Des,
Moines
I
think
a
smaller
City,
but
still
that
kind
of
level
investment,
but
more
organic
from
across
multiple
areas.
B
You
know
public-private
partnerships,
but
still
where
the
private
is
still
driving
the
capital
allocation
decisions,
which
is
why
I
think
it
leaves
it
in
a
without
get
rise,
as
probably
healthier
bets
being
made,
and
why
the
performance
is.
You
know,
even
though
there's
a
little
bit
less
capital
being
deployed
in
part.
There's
a
smaller
City
you're
outperforming
those
other
cities,
because
the
more
the
more
market
responsive
things
are
actually
getting
done.
You.
D
Mentioned
Austin
and
Nashville
multiple
times,
yes,
and
in
response
to
the
things
they
were
doing
and
on
the
Alpha
side
of
things
been
to
both
of
those
cities
in
the
past
year,
and
then
we
talked
about
the
cranes
here
in
Des
Moines
and
in
both
those
cities,
I
mean
just
unbelievable.
A
lot
of
development
I
wonder
if
you
could
talk
about
a
few
of
the
things
that
maybe
they're
doing
that.
Maybe
we
should
be
looking
at
here
in
Des
Moines,
not
specific
projects,
but
what
types
of
things
that
they're
doing
that?
Okay.
B
B
And
this
is
this
is
something
because
a
lot
of
our
real
estate
clients
look
at
Austin
Nashville
extensively,
so
we're
slicing
dicing.
Those
markers
like
Matt
Austin
has
one
huge
advantage,
and
that
is
UT
Austin
UT
Austin
is
a
research
powerhouse
that
has
that
contributes
so
one
of
the
factors
that
we've
seen
for
ultra
high-performing
economies,
a
large
portion
of
them
and
also
alpha
you
know
both
outperforming
in
alpha-
is
they
tend
to
have
and
by
the
way,
we're
a
very
apolitical
nonpartisan
firm
doing
a
political,
non,
partisan
work.
B
So
whenever
I
mentioned
thing
about
politics,
it's
not
to
espouse
any
political
agenda,
but
just
to
put
context
around
things.
There
is
a
high
correlation
between
you
know
large
research,
universities
and
alpha.
That
did
not
exist
10
20
20
years
ago,
because
the
economy
has
gotten
more
science
and
technology,
driven
they've
had
increased
input,
and
that's
why
you
kiost
anism
or
what's
driving
that
growth
there
is
another
correlating
factor.
B
So
Austin
has
both
of
those
which
gives
it
so
it's
in
the
same
league
as
some
other
cities
that
are
that
are
that
are
scaling.
Well.
Austin
also
has
the
advantage
of
for
a
large
portion
of
the
Texas
population.
It
is
the
most
attractive
of
the
cities.
There
are
different
people
who
go
to
you
know
what
we've
learned
through
analysis
is.
B
There
are
very
different
profiles
of
people
who
are
attracted
to
San,
Antonio
or
Dallas,
or
Houston
and
Austin
very
different
type
of
people,
but
very
different
than
those
in
the
cluster
of
the
other
three
cities.
You
know
psychographically
other
other
things
like
that,
so
Austin
actually
has
the
advantage
of
being
one.
The
four
major
magnet
cities,
but
lining
up
with
the
desires
of
about
half
of
the
highest
productive
population,
so
they
have
that
going
for
them
as
well
too.
So
they've
got
a
lot
of
weird
factors,
but
Texas
is
weird.
So
there
are
now
higher.
B
B
The
Moyne
ain't
that
but
that's
okay,
we're
moines
is
the
magnet
is
that
35,
basically
30
to
44
and
then
in
particular
35
to
39,
when
we
have
when
we
isolate
that
hyper
granularly,
so
Des
Moines
may
never
be
the
you
know
across
the
country,
you've
got
a
certain
brand,
the
cool
you
might
be
going
to
Nashville
and
might
not
even
been
on
your
radar
screen.
But
what
Des
Moines
has
is
this
the
you
know
you're
at
the
top
of
your
career,
but
you
want
a
life.
B
Here's
the
place
where
you
can
make
that
happen.
The
problem
is
when
we
look
at
the
migration
numbers
for
Des
Moines.
Basically,
Des
Moines
has
basically
been
very
effective
at
depopulating
a
lot
of
rural
Iowa
and
then
Des
Moines
has
also
been
effective
at
enough
at
basically
getting
people
who
grew
up
in
Iowa
to
come
back
at
their
point
in
life
and
now
what
we
see
is
they're
really
starting
to
take
it
out
of
you
know:
Omaha
is
the.
B
Is
the
labor
market
competitor
we're
seeing
those
kinds
of
trend
things
too,
but
it's
still
a
not
totally
well
known
story.
Yet
that's
your
catchment
market,
it's
rural
Iowa,
its
X,
Iowans
and
now
you're
sprinter
Omaha.
But
the
story
isn't
known
except
Tom
Custer
who
just
moved
from
Orange
County,
where
I
worked
with
him
on
the
project
and
wasn't
in
Orange
County.
We
work
together
in
California,
San,
Diego,
yeah
and
I
said
your
wife
is
from
here.
Isn't
she
or
yeah
so
yeah?
So
you
get
yeah,
okay,
yeah!
So
thank
you.
B
So
you
get
that
where,
if
they
know
an
element
of
the
story,
Des
Moines
is
a
bigger
magnet
than
other
cities,
other
people
from
other
places,
but
the
Moines
is
still
a
relatively
small
state.
If
you
wanna
start
expanding
in
Nashville
right,
you
start
to
figure
out.
How
do
you
start
to
tell
the
story
nationally
and
again,
you
probably
won't
be
competing
head-to-head
with
Nashville
in
their
brand.
The
cool
you'll
lose
that
game,
but
there
are
other
areas
where
it's
very
proven
that
the
Moines
has
a
brand
and
a
motivating
brand.
B
B
It's
good
question:
autonomous
driving
is
just
yet
another
examples
of
the
digital
algorithmic
trance
transformation.
That's
going
to
reshape
economies
and
reshape
cities.
There
is
no
question
that
autonomous
driving
okay,
so
let's
step
back
in
terms
of
where
autonomous
driving
is
today
now
well,
it
sort
of
sucks
because
you
can't
use
it
in
heavy
rain.
You
can't
use
it
in
snow,
so
it
probably
won't
work
in
the
moines
for
a
while.
You
don't
need
to
worry
about
that.
B
B
The
the
the
the
part
of
the
challenge
is
that
basically
autonomous
driving
is
not
a
revolution
from
the
auto
industry.
In
Detroit,
autonomous
driving
is
a
revolution
in
digital
and
Algar,
and
the
digital
algorithmic
world.
That's
what
makes
autonomous
driving
work.
It's
why
it
took
Italy.
That's
why
it
took
Elon
Musk
to
make
more
headway
than
anyone
else
and
Detroit
on
that.
On
that,
it's
it's.
Why
that
most
autonomous
driving
is
pioneered
around.
B
For
example,
Pittsburgh
has
become
one
of
the
big
hubs
of
autonomous
driving
research
Pittsburgh
we're
displacing
the
planet
for
that
to
happen,
except
for
Carnegie
Mellon
University,
which
explains
a
hundred
percent
of
why
Pittsburgh
has
become
the
autonomous
driving
hub.
In
other
words,
it
might
not
happen
in
Des
Moines,
because
it
doesn't
have
that
kind
of
research
university
that
specializes
in
AI
and
stuff
like
that.
So
that
might
not
be
the
industry,
but
I
would
be
hunting
for
what
are
the
other
industries
where
Des
Moines
has
that
edge?
B
That
can
lead
some
element
of
the
digital
algorithmic
transformation
and,
as
for
our
day,
to
day
lives.
Yes,
it
is
gonna
change,
a
lot
of
things
because
you
know
what
we're
probably
not
gonna
have
to
worry
about,
like
I
was
on
a
phone
call
where
we're
talking
about.
Like
you
know,
Des
Moines
is
gonna
hit
a
million
people
by
X
date.
B
It's
asking
to
happen
later
than
the
date
I
heard
on
the
phone
unless
something
dramatic
changes
just
because
of
the
nature
of
the
populations
shifting
you
probably
won't
have
to
build
out
the
road
infrastructure
as
fast
as
you
would.
If
you
assumed
straight
line
trajectory
with
current
growth
and
current
usage
of
automobiles,
it
also
means
that
you
probably
will
have
the
ability
to
literally
choose
where
you
want
to
go
or
live.
B
You
probably
aren't
as
concerned
about
sort
of
where
or
distance
and
stuff
like
that,
so
it
is
gonna
change.
The
metropolitan
footprint
for
sure
I
hope
that
are
you
involved
in
a
Metropolitan
Planning
in
any
capacity
good
I
was
gonna,
say
I,
hope
these
fellows
not
to
say
I
hope.
These
are
exactly
the
kind
of
questions
that
leadership
is
asking.
I
James,
thank
you,
correlation
versus
causation
and
so
I'm
interested
both
in
cost
of
living.
Your
thoughts
on
cost
of
living
as
a
driver
of
growth,
as
well
as
tax
policy.
We
talk
a
lot
in
this
state
about
tax
policy,
either
being
an
inhibitor
of
growth
or
accelerator.
So,
can
you
give
us
some
thoughts
on
how
important
those
things
are
in
terms
of
GDP
drivers?
Okay,.
B
So
we
have
the
tax
question
and
then
a
correlation
causation,
I
heard
there
was
one
more
piece
of
that
that
I
lost
as
soon
as
he
said
tax.
What
was
the
one
point
you
said
before
that
cost
of
living?
Thank
you.
Okay,
cost
the
living.
Let's
take
that
one
on
first
cost
of
living
is
fantastic,
but
also
bear
in
mind
that
when
you're
competing
against
other
Midwestern
comp
cities,
that
does
that
is
not
a
competitive
advantage
and
that's
what
I
try
to
keep
telling
my
clients
I
work
with
who
have
low
cost
of
living.
B
It's
a
low
cost
of
living
is
basically
a
function
of
a
lagging
real
estate
market,
which
means
there's
not
as
much
demand
for
your
homes
unless
Network
generated
it's
not
necessarily
a
benefit
and
where
it
is
a
benefit.
It's
not
necessarily
a
competitive
advantage
over
your
comp
so
think
about
more
than
just
cost
of
living
arm.
You,
fortunately,
are
not
you
don't
have
land
constraints,
so
house
prices
don't
jump
as
much,
even
though
you
have
population
growth.
B
If
you
had
like
a
coach
on
one
side
or
you
know
or
unbelievable
mountain
terrain,
your
real
estate
costs
would
be
skyrocketing
because
there's
only
so
much
that
you
can
go
up
where
you
can
grow,
but
you
don't
and
that's
enabling
lower
cost
of
living,
because
you
have
lower
cost
to
real
estate.
But
it's
not
necessarily
it
doesn't
help
you
win
against
other
Midwestern
cities.
So
it's
a
good
thing,
but
it's
what
it
is.
It's
not
the
most
important
thing.
B
Tax
policy
is
a
really
interesting
question
and
once
again,
I
want
to
also
be
delicate,
because
once
again
we
absolutely
do
not
do
political
work,
absolutely
apolitical
nonpartisan,
but
from
what
we
see
in
the
data
analysis
and
I
know
I'm,
probably
going
to
piss
off
a
hundred
percent
of
the
audience
been
saying
this,
but
we
did
an
analysis,
because
this
is
a
hot
issue
in
one
the
cities,
we
work
in
Potter
than
most
other
cities
in
America.
So
we
did
an
analysis.
B
We
took
a
look
at
analyses
of
things
that
indicate
that
high
taxes
matter
or
high
taxes
don't,
and
then
we
ran
our
own
analyses
and
here's.
What
we
found
is
that
basically
tax
policy-
and
this
is
where
I'm
gonna
end
up
leaving
everyone
disappointed
tax
policy
has
in
aggregate
or
I
should
say.
Tax
policy
at
the
personal
level
in
aggregate
has
almost
zero
correlation
with
economic
growth
and
here's.
Why?
B
It's
not
that
it
doesn't
matter
it
matters
hugely,
but
the
reason
why
ends
up
with
zero
correlation
is
because
there's
an
equal
number
of
regions
with
high
taxes
and
low
performance
like
Connecticut
or
high
taxes
and
high
performance
like
a
lot
of
parts
of
California
just
like
there
are
a
lot
of
regions
with
low
taxes
and
high
performance
and
low
taxes
and
low
performance.
So
it
ends
up
zeroing
once
again,
so
mathematically
there's
zero
correlation,
but
it's
not
that
it
doesn't
matter.
B
J
Thank
you
earlier
in
your
presentation.
You
talked
about
the
average
housing
price
average.
Excuse
me,
average
income
I
was
hoping
you
could.
If
you
could
talk
about
any
research
you've
done.
That
looks
at
the
lack
for
lack
of
a
better
term
median
person
or
median
household
in
Des
Moines
in
comparison
to
other
regional
cities,
and
maybe
you
could
also
talk
about
the
wage
growth
that
you've
seen
in
Des
Moines
versus
other
couples.
B
Okay,
you
don't
compare
to
us,
you
want
to
compare
to,
let's
see
Asheville
North
Carolina.
Is
that
what
you're
looking
for?
Is
that
what
did
I
hear
that
correctly?
Okay,
click
on
that,
let's
take
a
look,
oh
hold
on
a
second,
it
didn't
take
me
Bill,
North
Carolina.
Let's
click
on
that,
let's
basically
run
models
with
new
markets
and
click
OK
and
once
again,
this
machine
has
never
compared
these
before,
but
we
will
be
able
to
pull
it
up
and
take
a
look
run
models
with
new
markets
hold
on
a
second.
B
B
B
B
B
B
Basically
blue
means
that
Des
Moines
is
more
dense
than
Asheville.
Red
means
it's
less
dense
than
Nashville
and
what
we
see
is
Des
Moines,
basically,
Des
Moines
has
more
two
hundred
thousand
dollar
household
plus
households.
Nashville
Asheville
has
a
poor
community
than
Des
Moines
Des
Moines
is
what
I
would
characterize.
Des
Moines
also
has,
but
now
interesting.
Des
Moines
has
a
much
denser
cluster.
Between
thirty
and
fifty
years.
Old
Des
Moines
is
more
blue
and
the
Moines
is
much
higher
income
among
that
audience
as
well
to
the
Nashville.
B
So
basically,
Des
Moines
is
bringing
a
lot
more
of
that
audience
than
Asheville
is,
but
Asheville
is
also
more
of
a
retirement
community
Des
Moines.
Basically,
as
we
looked
at
other
data,
a
lot
of
Des
Moines
folks
exit
at
some
point
in
time,
which,
by
the
way
is
a
concern
of
mine,
is
that
you
have
to
think
about.
There
is
a
point
in
time.
We
noticed
that
the
Moines
is
less
dense
in
older
population
in
other
parts
of
America.
B
It's
because,
basically,
if
they
have
the
affluence
to
move
they're
more
likely
to
move
the
problem
is
when
you
take
a
look
at
wealth
structure
in
America,
a
lot
of
wealth
is
still
concentrated
in
older
population,
because
not
as
much
wealth
has
been
generated
among
younger
populations,
I
would
think
one.
The
races
for
Des
Moines
is
to
figure
out
how
to
lock
up
as
much
that
wealth
to
be
redeployed
in
Des
Moines,
instead
of
when
they
moved
to
Scottsdale
or
or
someplace
like
that.
B
So
that's
one
of
the
lessons
to
take
away
from
this,
but
yeah
so
they're
sort
of
comparison
is
I
would
characterize.
The
Moines
is
a
much
health,
healthier
working,
yo
life
stage,
City
because
it's
blue
sort
of
where
you
want
it.
It's
in
the
workforce
and
it's
blue
at
the
higher
population
levels
so
there's
an
example
of
it,
but
I'm
happy
to
go
through
any
other
examples
or
pull
out
any
other
things
that
we
can
do
to
learn
about
Des
Moines
or
stick
around
afterwards
too.
D
B
So,
basically,
the
population
growth
that
starts
declining
about
mid
decade
so
basically
about
five
years
to
figure
out
your
brand
of
cool
to
track
the
to
track
the
an
outsize
share
of
that
market,
because
it
will
be
a
war
for
talent.
If,
if
that
is
a
talent
you
want,
you
are
gonna,
be
fighting
with
the
top
cities.
For
that.
What.
D
About
what
about
birth
rate
is
that
that
we
had
lice
laughington
from
Iowa
State?
She
said
that
we
had
one
of
the
better
birth
rates
yeah
in
the
Midwest
and
I'm,
wonder
how
that
could
be
another
factor
into
play.
You
talked
about
attracting
back
X,
Iowans
and
attracting
other
people,
but
creating
our
own
yeah
yeah.
B
Birth
rate,
the
reason
why
that
shows
up
it.
You
know
that
in
is
that,
basically
you
know,
birth
rate
is
definitely
one
of
the
things
that
I
was
the
moines
has
going
for
it.
It
does
have
a
higher
concentration
at
younger
years.
It's
a
it's,
not
necessarily
a
magnet
for
net
migration
in
but
first
rate
I
won't
bother
pulling
those
numbers
right
now,
but
it
is
stronger.
It
is
something
that
you
I
mean.
B
Basically,
the
sweet
spot
in
the
Moines
is
basically
it
is
a
lot
of
Midwestern
cities
claim
to
be
family
friendly,
but,
like
that
statistics
I
was
talking
talking
about
earlier
about,
like
economically
it's
better
for
your
kids
to
be
in
Des
Moines.
That
speaks
volume
to
me
and
just
mathematically
and
I
think
that's
what
people
sense
and
feel
is
that
it's
it's
a
tough
place
to
leave.
It's
a
good
place
to
return
to.
K
There
thank
you
so
much
for
all
this
information.
So
when
you're
talking
to
somebody
else
about
des
moines,
you've
said
Nashville's
brand
is
cool.
What
do
you
tell
somebody
else
that
Des
Moines
brand
is
you've
talked
a
lot
today
about
our
brand
and
we
have
a
lot
of
information,
but
if
you
were
to
summarize
it
in
a
couple
words
or
in
a
statement,
what
what
do
you
think
Des
Moines
brand
is?
Oh
god.
B
So
this
is
like
back
in
the
eighties.
I
was
back
at
the
ad
agency
early
in
my
career,
okay,
I'm,
not
gonna.
Try
to
attempt
to
pull
that,
but,
like
I
said
earlier,
your
brand
is
not
what
you
say:
it's
what
other
people
say
and
what
I
would
boil
I.
This
is
not
a
bumper
sticker
slogan,
but
I
think
what
is
clear
among
those
who
know
of
Des
Moines,
because
this
is
practically
unknown
elsewhere.
B
But
among
those
who
know
the
Moines,
it's
where
you
can
go
and
you
don't
have
to
make
the
same
kind
of
compromise
as
you
do
in
other
cities
to
raise
your
family
to
work.
The
way
you
want
to
work
to
live
where
you
want
to
live.
It's
a
usually.
There
comes
a
point
in
life
where
you
start
thinking
about
the
trade-offs
and
what's
important
to
you
and
what's
not
Des
Moines,
it's
not
about
trade-offs.
B
L
G
B
Yeah-Yeah-Yeah-Yeah
Denver
yeah:
that's
where
a
lot
of
my
real
estate
clients
do
their
work.
Yes,
and
there
are
challenges
so
two
issues
about
pace
of
growth
as
well
as
about
gender.
So
what
I
did
not
say
in
that
slide
is
the
single
biggest
contributing
factor
for
why
des
moines
has.
First,
is
a
comp
City
slight,
almost
the
same
population,
but
slightly
lower,
but
significantly
greater
population
of
the
workforce
and
educating
the
workforce.
B
It
is
women
that
is
it.
That
is
the
explaining
factor
why
Des
Moines
has
a
stronger
workforce
in
the
deeper
workforce
than
cities
of
this
size.
If
Des
Moines
did
not
have
that
phenomenon
going
on,
it
would
have
more
normal
economic
performance
instead
of
outsize
economic
performance,
the
question
about
gender
equity
and
wages
and
stuff
like
that,
here's
how
I
would
argue
this.
B
As
Des
Moines
thinks
about
how,
if
Des
Moines
determines
that
it
wants
to
grow
beyond
the
current
catchment
area
of
you
know
the
state
of
Iowa
and
people
who
grew
up
in
Des
Moines.
If
Des
Moines
wants
to
dramatically
expand
that
catchment
area,
I
would
probably
argue
that
one,
the
best
ways
to
do
that
is
to
make
as
many
economic
statements
as
loud
and
clear
about
issues
like
that
for
a
couple
reasons.
If
Des
Moines
is
more
bold
than
other
cities,
it'll
be
known
for
that,
and
I
would
argue
that
it's
okay.
B
So,
yes,
part
of
me
says
that,
like
once
again
trying
to
take
this
out
of
sort
of
the
political
realm
and
using
you
know,
language
that
is
often
viewed
in
the
political
sense.
I
would
say
that
basically
given
I
would
not
say
this
for
every
city,
because
I
try
to
put
my
economic
purely
quad
on,
but
there
is
more
of
an
economic
imperative
for
Des
Moines
than
in
other
cities,
because
it
is
the
it
is
one.
The
biggest
explanatory
factors
for
Des
Moines
out
performance
and
the
bolder
and
louder
Des
Moines
can
be
about.
B
B
B
It's
what
fuels
the
difference
in
the
more
that
Des
Moines
can
can
can
create
a
wedge
of
advantage
with
that
compared
to
other
cities,
the
more
Des
Moines
is
going
to
be
able
to
grow,
and
basically
that
is
yeah
if
you
can
get
that
word
out,
that's
wrong
the
ones
that
know
about
it
back
here.
That
I
think
is
where
the
talent
pool
is
going
to
be
in
a
you
know,
in
a
disproportional
level,
because
it's
already
proven
the
brand
already
works
for
the
audience
knows
the
brand.
B
As
for
the
growth
controlling
growth,
here's
what
I
would
say
about
this
is
there
are
going
to
be
natural
caps
to
your
growth.
Des
Moines
is
not
going
to
grow.
Des
Moines
will
not
grow
at
the
same
trick.
Des
Moines
will
not
be
able
to
sustain
the
growth
rate
that
had
continuously
it's
a
high
beta
City.
It
is
going
to
be
hit
by
an
economic
recession
at
probably
twelve
percent,
greater
yeah,
a
greater
hit
than
the
rest
of
the
nation.
B
That's
gonna
shave
a
little
bit
off
of
the
growth
trajectory
and
then
you
also
have
the
issue
of
the
audience
that
Des
Moines
really
attracts
is
the
audience
that
looking
you
know
looking
forward
to
the
next
10
full
years,
the
growth
rate
is
not
going
to
grow
as
much
so
there's
another
constraining
factor
there
too,
so
I
would
say:
I
wouldn't
worry
about
Des
Moines
being
you
know
becoming
like
some
of
those
other
cities
that
are
commuting.
Nightmares.
I
wouldn't
worry
about
that.
B
D
N
Have
you
found
correlation
between
communities
where
government
cities
everybody
worked
together
intentionally
to
attract
and
retain
foreign
burn
populations
to
provide
them
support,
plus
the
international
students?
We
do
attract
a
large
number
of
international
students
in
Iowa,
but
it's
really
hard
to
keep
them
because
of
visa
status
and
such
have
you
found
correlations
or
any
studies
that
you
can
shed
some
light
on.
Yeah.
B
B
What
cities
over
index,
with
with
venture
formation
and
venture
capital
fund
ventures,
the
single
biggest
correlating
Factory
found,
and
it
was
really
good
analysis.
This
wasn't
an
ordinary
student,
but
it
was
a
phenomenal
analysis.
The
single
biggest
factor
he
found
was
a
presence
of
well-educated
foreigners.
B
That
was
the
biggest
predictive
factor
for
whether
a
city
would
be
outperforming
on
ventures
or
not.
His
thesis
is
one:
is
some
of
them
have
access
to
different
capital,
pools,
there's
something
you
know
for
someone
to
make
that
kind
of
bet
to
make
that
kind
of
change.
There's
something
more
in
them.
I,
look
at
it
and
think
you
know
it
might
be
also
presence
of
labor
pool
because
they're
more
likely
to
be
and
the
advanced
degree
disciplines
and
some
of
the
hardest
Barrera
skillsets
that
fuel
outsize
performance.
B
But
that
is
absolutely
one
of
the
things
that
is
I,
don't
want
to
say
that
they
are
determined
of
venture
success,
although
in
Silicon
Valley
more
than
half
the
founding
teams
have
someone
who's
foreign-born,
but
I
don't
want
to
say
that
that
is
determinant,
but
it
is
one
of
the
caps
here.
Is
that
that
you
know
you
know,
and
this
is
sort
of
where
I'm
gonna
mention
is
that
we
did
a
earlier.
Someone
asked
a
question
very
different
reasons,
but
we
did
a
question
of
looked
at
race
and
ethnicity.
B
B
So
basically,
there
is
there's
hardly
basically
the
location,
quotient,
485
plus
Hispanic,
it's
basically
zero,
you
know
or
Asian
or
an
Asian
would
be
expected
because
the
immigration
Nationality
Act
in
1965
is
when
they
could
come
in.
So
basically,
there
are
no
there
hardly
any
asian-americans
in
America
over
the
age
of
80
years
old
or
eighty-five.
B
You
know-
and
it's
some
of
the
ponder
it
sort
of
struck
us
when
we
saw
that
I
hope
that
Des
Moines
is
as
welcoming
for
that
well-educated
population,
regardless
of
race,
I,
have
to
say,
I've
really
enjoyed
being
here,
and
it
felt
very
welcome.
I
hope
that
Des
Moines
make
sure
that
it's
abundantly
clear
for
anyone.
You
know
it
was
special
and
if,
if
they've
got
talent
and
they
can
make
money,
I
hope,
there's
no
yeah,
I
hope
I
hope
that
they're
welcome,
regardless
of
whatever
race
but
yeah.
B
So
it's
a
good
question
to
race,
and
you
know,
if
they're,
you
know
interesting
points
about
the
Moines
that
are.
You
know
that
are
interesting
quirks
about
it
that
you
know
worth
thinking
about
how
to
create
the
community
that
can
build.
Now.
How
do
you
build
the
strongest
community
and
the
most
effective
community
good
questions
more.
M
M
B
Very
sure,
I
caught
this
question
correctly.
It's
about
it's
about
high
population
growth,
but
the
impact
on
rural
population
around
that
and,
to
be
honest,
unfortunately,
none
of
like
on
the
side
of
this
stuff,
where
we
wait.
They
can,
unfortunately,
none
of
the
private
equity
funds
and
real
estate
interests.
Looking
at
rural,
so
I
have
not
run
any
analysis
on
that.
So
I
wish
I
had
a
better
answer
for
rural,
but
afterwards,
if
you
want
to
take
a
look
at
some
stuff,
we
can,
but
unfortunately.
B
Have
an
answer
for
it:
impact
on
rural
other
than
we
see
it
very
clear.
That
is
where
that
has
been
traditionally
the
catchment
area
for
des
moines
talent
and
continues
to
be.
But
you
know
the
amount,
the
the
the
amount
of
population
pool
and
talent
pool
out
of
rural
Iowa
is
diminishing
over
time,
because
the
Moines
has
been
so
effective
at
it.
Des
Moines
doesn't
need
to
be
thinking
about.
You
know
broader
catchment,
pools
for
talent
and
labor
curse.
G
Thank
you
all.
All
the
questions
have
been
good
and
informative
and
right
on
track.
Does
your
company
follow
professional
sports?
You
see
a
decline
in
communities
with
NFL.
All
the
controversy
on
that
is
soccer,
going
to
be
a
upcoming
sport
for
a
city,
the
size
of
Des
Moines.
We
have
a
lot
of
young
youth
soccer
sports,
they're,
growing,
West,
Des,
Moines,
new
suburbs,
good.
B
Questions
and
unfortunately,
we
haven't
done
this
in
the
sports
domain,
so
I
can't
answer
those
questions,
but
they
are
fascinating
questions.
But
just
as
a
side
note,
we
found
that
the
talent
that
we
like
to
hire
most
are
people
who
typically
have
come
out
of
sports
analytics
because
yeah
so,
but
unfortunately
we
have
not
looked
at.
We
have
not
looked
at
sports
a.
D
Good
question
you,
you
talked
a
little
bit
about
how
we
search
for
happy
things
and
some
of
the
the
general
positives.
I
was
listening
to
a
podcast
by
the
guys
from
freakanomics
yeah,
and
they
were
taught
they
did
a
study
of
Nordic
countries
and
the
happiness
levels
there,
and
they
were
trying
to
explore
that
a
little
bit.
What
what
do
you
think
leads
to
some
of
that?
Obviously,
is
that
an
aspect
that
we
could
be
trying
to
to
market
better
for
the
brand
that
and.
B
B
Yeah,
it's
funny.
You
said
that,
because
that
exactly
is
where
the
core
of
where
we
see
like
economic
opportunity
strongest
for
children
and
and
basically
the
lifestyles
that
are
that
are
showing
indicators
of
that
that
I
hadn't
thought
before,
but
yeah.
It's
correlates
very
closely
with
the
states
that
have
the
highest
Nordic
immigration
from
from
prior
years
from
prior
generations,
Wow
I
wasn't
looking
about
a
little.
D
B
Yeah,
the
social
capital
I
think,
is
something
that
we
see
very
high
here,
like
basically
some
of
the
things
that
we're
looking
at.
We
just
see
basically
stronger
civic
confidence
and
connectedness
I,
see
that
here
compared
a
lot
of
the
other
cities
where
operate.
Is
that
even
cities
very
like
Des,
Moines,
geographically
demographically
size-wise,
there's
almost
a
little
bit
different
language
that
I
see
here
among
the
leadership,
a
different
type
of
interaction
that
I
see
here.
H
The
conversation
about
venture
capital,
private
dollars
in
bringing
industry
to
our
city
are
there
trends.
Are
there
dollars
even
national
policy,
that
we
should
try
to
follow?
Try
to
attract
some
of
those
dollars
in
interest
here,
so
public
policy
that
could
impact
a
city
as
we
consider
growing
or
public
funding,
maybe
even
innovation
on
a
public
level
that
you
would
encourage
us
to
look
at.
Oh
good.
B
Question
because
this
is
such
a
hard
one,
depending
on
sort
of
assets
of
state,
so
I'm,
not
sure
them
and
in
a
great
position
to
answer
it.
But
you
know
there
are
interesting
things
happening,
I
mean
well.
First,
off
I
mean
yeah.
Iowa
has
been
an
innovator
in
you
know.
Basically,
in
some
cases
Iowa
has
been
in
Nevada
in
certain
things
like
I
think
it's
called
was
it
260,
er,
240
or
260
II
the
job
training
Act
Cedar
Rapids,
mind
that
extensively
to
drive
fuel
Cedar,
Rapids
growth.
B
B
What's
happened
with
the
job
training
act
in
Iowa,
they
can't
make
it
work
anywhere
near
as
effective,
because
it's
now
just
sort
of
you
know
it's
now.
You
know
it
ratcheted
up
the
game,
so
everyone's
playing
that
games
and
no
one
else
competitive
advantage
just
like
no
one
can
come
in
and
do
data
centers
in
the
same
way.
B
You
know,
I
was
just
a
first
play
at
first
party
mover
in
that,
so
there
are
a
couple
examples
that
have
had
some
areas
now:
I,
don't
know
net
net,
how
those
upend
out
statewide,
but
where
there
were
some
ways
where
there
were
certain
things
that
were
shifted
in
ways
that
were
favorable
in
certain
environments.
But
you
know
we
have
to
think
about
that.
I.
B
Just
read
that
when
I
haven't
been
involved
in
New
Jersey
just
set
aside
five
hundred
million
dollars
to
co-invest
with
venture
capital
funds
for
companies
in
New
Jersey,
which
was
sort
of
that
was
a
bold
move.
I'm,
not
quite
sure,
I
haven't
really
analyzed
that
figured
out
whether
it's
something
I
would
have
done
or
not.
But
you
know
they
are
they're
making
moves
on
that
as
well
too
so
yeah,
there's
no
specific
recommendation.
I
have
it's
just
that
I
hope
that
the
state
is
able
to
remain.
B
You
know
rational
in
not
like
an
emotional
sense,
but,
like
you
know,
thinking
through
carefully
about
where
tax
policy
does
and
does
not
impact
and
figuring
out
how
it
can
drive.
You
know
how.
Basically
it's
not
you
know.
It's
not
for
now
purely
pie
in
the
sky
or
purely
ideological
reasons,
but
it's
things
that
are
purposefully
selected,
derive
very
specific
positive
outcomes
and
I
hope
that
the
political
tenor
in
the
state
is
still
able
to
to
lead
for
those
kinds
of
decisions
and
those
kinds
of
outcomes
that.
D
B
Boy
closing
thought
final,
takeaway,
closing
thought
final
takeaway
I
would
say
that
these
are
things
I,
don't
say
that
other
cities,
because
I,
don't
see
this
data
in
other
cities.
There
are
some
very
special
things
that
are
happening
here,
very
distinct
level
of
our
performance,
but
it's
not
locked
in
stone.
It's
not
it's,
it's
not
a
something
that
is
a
permanent
factor.
This
is
about
decisions
that
you
make
that
have
led
to
where
you
are,
and
this
the
world
changes
it's
about
decisions
you're
making
the
day.