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Detroit Venture Partners CEO Josh Linkner on investing in early-state tech companies.
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-- -- Now Detroit yet flat broke we -- it unfolds actually named it the most -- -- -- city in America.
Our next guest is a venture capitalist who will invest in you all business if you move to Detroit.
Image -- CEO and managing partner of Detroit venture politics are just.
I wanna I want some numbers out -- you please tell me how many businesses.
Do you -- in that have indeed moved to Detroit.
Also we really believe that Detroit is a really hot bed I don't groundbreaking content on businesses to -- and he got and so yeah we made seventeen investment so far.
Three or four of them have moved from out of state to Detroit and we're looking to do more we think this is the platform to grow tech companies.
OK -- seven you've invested in seventeen companies some of them say they will move to Detroit.
Is that right okay now how we're -- -- -- -- people in these companies are actually now employed in Detroit.
I have a total number but I'll tell your quick example there were to the hope that otherwise I Barbara I don't I understand but on an unbeatable if you can't give the exact number unreadable -- how many people have you -- roughly look in Detroit.
-- roughly a 150 and on but these are tech startups that are growing at a rapid pace -- -- one of them has the opportunity to explode to create thousands of high tech jobs which really helped transform our region and diversify our economy okay hold almost seconds I don't wanna look at that moment you tell me that there's a 150 people.
Who are now walking in Detroit getting a paycheck in Detroit.
Paying taxes to the city of Detroit the world that before you and your operation moved in with this money is accurate.
That's accurate it's far more than that when you take a look at the overall world of of our affiliate companies we have literally dozens of companies that are connected including Quicken Loans down here to try.
And if you look at those numbers that actually.
The -- are up into the thousands OK so Detroit despite the media and what people are saying is becoming as vibrant source.
A vitality and -- once again -- -- the opportunity to become.
I some of innovation and creativity judge just I know you guys are trying to create an oasis there but here's the thing.
47% of adults -- came in read -- -- guys so is it essentially what you're doing is bringing in outsiders who live in this little bit about oasis in the middle.
All those -- all -- despair all the destruction.
And that will not change.
Well I think a lot of ways to look at that I mean there's no question that our city -- -- over the last several decades.
But rather than throwing up -- arms and writing up the whole city we see an opportunity we have low cost basis we have incredible research universities.
So the just helped turn around a great American story Citi.
Actually were rewriting the ultimate turnaround story in America's history writer Detroit.
I think look I think what you're doing is laudable but Charles -- point is valid.
You're not employing local Detroit people you're bringing in people into this little oasis that you created in Detroit nothing wrong with that -- looking not -- that are all but that's what you're doing.
I don't know like our president when he's a little awaits -- continue to Detroit and Michigan as a vibrant.
Community we're taking certainly people college graduates from Ann Arbor -- and other places however there's a spillover effect and so.
Local restaurants are -- these days that used to be vacant people are filling up a previously abandoned buildings.
And so the economic activity is coming as a result of tech startups is not only going to those from outside -- -- making a difference not -- the tax basis.
But on the citizens Europe and the city Detroit time look -- very pleased to have you on the show -- I think given a fine thing -- very interest and it just Linda thanks so much for joining us thank you.
