“Survive ’til 25?” Barry Sternlicht

Starwood founder and real estate investor Barry Sternlicht discusses various topics, including his thoughts on the current state of the real estate market and the potential impact of artificial intelligence. He criticizes the Federal Reserve for raising interest rates too quickly, resulting in vacant office buildings. Sternlicht predicts a recession but hopes it will be shallow, with the infrastructure bill and recovery in the service sector helping mitigate the negative effects. He also shares his background and how he got into the real estate industry, highlighting his success with Starwood Hotels. Sternlicht talks about the challenges facing B and C-tier office space due to remote work but sees promise in the newest commercial office space. He believes AI will disrupt industries like law, advertising, and finance, potentially reducing the demand for physical office spaces. Sternlicht also discusses his decision to move to Miami for tax benefits and his willingness to serve in government if called upon. He emphasizes the importance of education and training to combat unemployment and suggests real estate as a good investment option. Overall, Sternlicht reflects on his achievements and philanthropic activities and expresses pride in his family and company.