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<ul><li>The <keyword id="12311813" type="General" weightage="20" keywordseo="telos" source="Orion">Telos</keyword> blockchain just raised $8 million for its first ever set of marquee investors.</li><li>The funding amount will be used to hedge against a possible ‘prolonged bear market’ next year.</li><li><keyword id="12493969" type="General" weightage="20" keywordseo="douglas-horn" source="Orion">Douglas Horn</keyword>, the chief architect of Telos, told Business Insider that they kept away from marquee investors because they didn’t want to create any big whales that could influence the price of the TLOS token.</li></ul>The Telos blockchain platform, which is Ethereum compatible and based on EOSIO, just raised $8 million. While funds may not be breaking any records, it is the first time that Telos has leaned on marquee investors to bring in fresh capital — led by the co-founder of Code to Inspire, <keyword id="12493968" type="General" weightage="20" keywordseo="john-lilic" source="Orion">John Lilic</keyword>, who is also an investor in ConsenSys and Polygon. And, the change in philosophy comes as the company gears up for a possible bear market next year. “I have no idea what will happen next year but all bull cycles end,” Douglas Horn, the chief architect of Telos, told Business Insider. “This capital raise was not about expecting a bearish market but ensuring that we could keep growing and building in the event of one.” Simply put, just in case a ‘crypto winter’ sets in next year, Telos will still have the liquidity it needs to keep growing without having to sell off any of its TLOS tokens. <cmsannotation type="cmsannotation" annotationid="No big ‘whales’ to mess with TLOS token prices" comment="subhead" text="No big ‘whales’ to mess with TLOS token prices">No big ‘whales’ to mess with TLOS token prices</cmsannotation> Until now, the Telos blockchain funded itself entirely from bootstrapping with no large investors. As a result it doesn’t have any big ‘whales’ which cause market movement with just one click of a button. This helps the tokenomics remain stable. <div type="ExtQuote" text="“In the early phases of the project, we did not want to lop off a big part of the token supply to give to any group of VCs or others. That is the kind of thing that unbalances the tokenomics forever.”" auname="Douglas Horn, the chief architect of Telos, told Business Insider India"></div> According to Horn, if Telos had brought in this kind of investment earlier, the project would have had to sell off 30% to 40% of its tokens to venture capitalists. By waiting it out, the blockchain was able to keep the overall sale to 2% to 3% of the chain. <cmsannotation type="cmsannotation" annotationid="What is Telos going to use the money for?" comment="subhead" text="What is Telos going to use the money for?">What is Telos going to use the money for?</cmsannotation> As with most funding, the fresh capital will be put to use towards three objectives — development, marketing and liquidity. And, a big part of meeting these objectives is having the right people to drive the change. “We’ve expanded our development team by roughly 300%. Now we are looking to continue those expansions and bring in top level developers and marketers,” said Horn. The aim of bringing on marquee investors isn’t just about the money — it’s also about the skills, wisdom and the connections they offer, which can go a long way in finding the right talent. “We’ve had a very rapid scaling up lately from a $10 million project to a $100 million project and soon to a $1 billion project — perhaps by the end of the year. Next year is likely to see us grow to $10 billion and then $100 billion based on this pattern and the valuations of comparable chains like Solana and Cardano,” said Horn. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/choosing-the-best-cryptocurrency-exchange-your-options-and-how-to-pick-between-them/articleshow/87539690.cms">Choosing the best cryptocurrency exchange — your options and how to pick between them</a> <a href="https://www.businessinsider.in/investment/news/illegal-mining-for-cryptocurrencies-remains-rampant-as-miners-look-to-maximise-profits-with-cheap-electricity/articleshow/87505141.cms">Illegal mining for cryptocurrencies remains rampant as miners look to maximise profits with cheap electricity</a> <a href="https://www.businessinsider.in/investment/news/cryptopunks-sees-another-bizarre-sale-in-seven-days-this-time-for-an-unreasonably-cheap-price/articleshow/87490463.cms">Another bizarre CryptoPunks' sale in the last seven days — this time for an unreasonably cheap price</a>

Telos is hedging against a possible ‘prolonged bear market’ with fresh investment from its first-ever marquee investors

<a href="http://www.businessinsider.in/searchresult.cms?query=Uber">Uber</a> has launched a pilot scheme for its first <a href="http://www.businessinsider.in/searchresult.cms?query=motorbike+taxi">motorbike taxi</a> service in Bangkok. The <keyword id="1042120" type="PERSON" weightage="100" keywordseo="Uber">Uber</keyword> <a href="http://www.businessinsider.in/searchresult.cms?query=motorbike+taxi">motorbike taxi</a> will collect passengers from their office or home and get them to their respective destinations. The company is looking to spread this offering across Asia. 
 
Traffic-clogged Asian megacities like Jakarta and Manila might get them soon. Makes complete sense! Motorbikes have long been a popular commuting option, thanks to their ability to spiral through the horrible traffic jams. 
 
"This is the first time we're doing it in any market in the world, so our hope is to develop it and innovate it," <a href="http://www.businessinsider.in/searchresult.cms?query=Douglas+Ma">Douglas Ma</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Uber">Uber</a>'s head of Asia expansion, told AFP. 
 
"If it makes sense, absolutely we want to look at other markets", he added. 
 
So what about India? 
The trouble is, <a href="http://www.businessinsider.in/searchresult.cms?query=Uber">Uber</a> has been facing regulatory hurdles and protests from established <a href="http://www.businessinsider.in/searchresult.cms?query=taxi+operators">taxi operators</a> in most locations in India. Even with their newest offering, the company claims their services will be cheaper than regular <a href="http://www.businessinsider.in/searchresult.cms?query=bike+taxis">motorbike taxis</a>. That has not gone down too well with the old players. 
 
Radio taxi services like <a href="http://www.businessinsider.in/searchresult.cms?query=Uber">Uber</a> and Ola have also locked horns with the Indian government many times. 
 
There are also regulatory challenges with <a href="http://www.businessinsider.in/searchresult.cms?query=bike+taxis">bike taxis</a> in general. The transport officials are yet to figure out the guidelines for the fares, requirements and permits for the drivers, and designated stops for <keyword id="6383026" type="UNKNOWN" weightage="80" keywordseo="Bike-Taxis">bike taxis</keyword>. 
 
Efforts have been made to get bike taxis on road in Delhi but the move fell through. The only city that has stepped up and launched bike taxis for commuters is Gurgaon. 
 
Gurgaon even has a two-wheeler taxi service that goes by the name of Bikxie Pink. It’s by women and for women. It was launched on Jan 21 after it was found that women were reluctant to use the service because they were uncomfortable riding behind male drivers and concerned about their safety based on safety concerns and unease with riding behind male drivers. 
 
But Mayank Jyoti, RTO Ghaziabad had told reporters earlier, "We have not given permission to anybody for such service. This is a violation of permit rules." 
 
So that’s what’s standing between <a href="http://www.businessinsider.in/searchresult.cms?query=Uber">Uber</a> India and <a href="http://www.businessinsider.in/searchresult.cms?query=bike+taxis">bike taxis</a> – regulation, and more regulation. 
 
Image credit: Uber

Will
Uber’s Bike Taxi Services work in India?

<ul class="summary-list"><li>A 50-year-old <keyword id="105921" type="ORGANIZATION" weightage="60" keywordseo="Maryland">Maryland</keyword> man was taken into police custody for discharging a shotgun at neighbors who were passing by his home, according to <a href="https://baltimore.cbslocal.com/2020/10/19/police-kingsville-man-putting-up-blm-sign-arrested-after-shooting-at-truck-with-trump-sign/">WJZ-TV</a>.</li><li>Douglas Kuhn was placing a BLM sign at his residence when his neighbors—Neal Houk and Bradley Lang— who are <keyword id="3390419" type="PERSON" weightage="60" keywordseo="Trump-supporters">Trump supporters</keyword> honked their horn at him from their pickup truck as they were passing by, <a href="https://www.wbaltv.com/article/kingsville-man-posting-biden-sign-shoots-at-honking-trump-supporters-police-say/34414364">WBAL-TV</a> reported.</li><li>"He picked up a shotgun from near his feet and ran towards us aiming it and we got 100, 200 feet down the road, he began to fire," Lang told WBAL-TV. "We were scared, although we were happy that he missed, the truck was missed and we were alright."</li><li>Kuhn could potentially spend up to 100 years behind bars for this incident. On Monday, a Maryland judge ordered for him to be released on home detention, according to the <a href="https://www.baltimoresun.com/maryland/baltimore-county/cng-co-to-kingsville-man-no-bail-20201019-s3ff2seiv5aytpe6kisgl2v5ti-story.html">Baltimore Sun</a>. </li></ul>A 50-year-old Maryland resident is facing charges for firing a shotgun at his neighbors who honked their horn at him on Saturday afternoon. The man, Douglas Kuhn, was placing a <keyword id="2771111" type="PERSON" weightage="100" keywordseo="black-lives-matter">Black Lives matter</keyword> sign at his residence in Kingsville, Maryland— about 23 miles from Baltimore— when his neighbors passed by in their vehicle with a pro-Trump sign and honked their horn, <a href="https://baltimore.cbslocal.com/2020/10/19/police-kingsville-man-putting-up-blm-sign-arrested-after-shooting-at-truck-with-trump-sign/">WJZ-TV</a> reported. Kuhn then fired his shotgun at Neal Houk and his son, according to the report. "He reached down. He had a shotgun right there, pulled it out and pointed it right at," Houk told WJZ-TV. "And we were in disbelief. Next thing we heard was a shotgun blast."Houk and his son, Bradley Lang, escaped the incident with no injuries and dialed authorities, <a href="https://www.wbaltv.com/article/kingsville-man-posting-biden-sign-shoots-at-honking-trump-supporters-police-say/34414364#">WBAL-TV</a> reported. "He picked up a shotgun from near his feet and ran towards us aiming it and we got 100, 200 feet down the road, he began to fire," Lang told WBAL-TV. "We were scared, although we were happy that he missed, the truck was missed and we were alright."The duo told WBAL-TV that the honks were "a neighborly act.""It's Kingsville, it's a friendly area. Everyone honks at each other," Lang told WBAL-TV." We think we were hoping there could be some civility between people who support different candidates."According to WJZ-TV, authorities discovered a 12-gauge shotgun at Kuhn's home and arrested him. He is facing <a href="https://www.baltimorecountymd.gov/departments/police/news/2020/10/19/50-year-old-man-arrested-for-assault-in-kingsville">charges</a> including first-degree assault and reckless endangerment. The news station reported that Kuhn could potentially spend 100 years behind bars. Maryland District Judge Philip N. Tirabassi ordered for Kuhn to be "released on home detention" on Monday, according to the <a href="https://www.baltimoresun.com/maryland/baltimore-county/cng-co-to-kingsville-man-no-bail-20201019-s3ff2seiv5aytpe6kisgl2v5ti-story.html">Baltimore Sun</a>. The newspaper reported that Kuhn will plea not guilty and that he told authorities prior to his <keyword id="42737" type="PERSON" weightage="60" keywordseo="arrest">arrest</keyword> that "not aware of any such incident."

A Maryland man who was posting a BLM sign at his home allegedly shot at his pro-Trump neighbors as they were passing by and honking at him, police said

<ul class="summary-list"><li><a href="https://www.businessinsider.com/what-its-like-living-in-new-york-100000-salary-reality-2019-2">New York City</a> is still home to more ultrawealthy individuals than any other city.</li><li>The city's <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword> scene is rebounding with an uptick in sales.</li><li>And NYC's tax revenue is $3 billion greater than expected, not to mention it's getting $5.6 billion in aid.</li></ul><a href="https://www.businessinsider.com/how-expensive-is-new-york-city-mind-blowing-facts-2019-6">New York City</a> is back.Or at least, it's well on its way.As the <a href="https://www.businessinsider.com/new-yorkers-pandemic-escape-hamptons-hudson-valley-wealth-2020-6">wealthy fled</a> for the Hamptons, local restaurants <a href="https://www.businessinsider.com/87-percent-nyc-restaurants-couldnt-pay-their-full-rent-august-2020-9">shuttered their doors</a>, and Times Square went quiet during the onset of the pandemic, many <a href="https://nypost.com/2020/08/17/nyc-is-dead-forever-heres-why-james-altucher/">declared the city dead</a>. But a year after it became <a href="https://www.businessinsider.com/next-us-coronavirus-outbreak-wont-rival-new-york-2020-5">the coronavirus epicenter</a> of the world, NYC is starting to shine once again. Despite a seeming exodus of the city's richest, NYC is still home to 7,743 ultra-high-net-worth individuals - more than any other city in the world, <a href="https://www.knightfrank.com/research/article/2021-03-01-at-a-glance-key-findings-from-the-wealth-report-2021">per a Knight Frank and Douglas Elliman report</a>. The report defines this wealthy cohort as having a net worth of $30 million and above. Plus, real estate is already making a comeback, and it's had to. Last year, 10.9 out of 1,000 residents in the NYC metro area moved, up from 6.6 per 1,000 residents in 2019, <a href="https://www.mansionglobal.com/articles/whoever-wrote-off-new-york-was-wrong-226674">Mansion Global's VL Hendrickson reported</a>, citing a report from commercial real estate firm CRBE. But those who left for the suburbs are already returning.New Yorkers are <a href="https://www.businessinsider.com/millennials-upgrading-luxury-apartments-new-york-city-low-rents-pandemic-2021-3">upgrading to wealthier neighborhoods and apartments</a> as others <a href="https://www.nytimes.com/2021/01/01/realestate/who-left-new-york-coronavirus.html">are returning</a> to the city. Overseas buyers are expected to <a href="https://www.mansionglobal.com/articles/new-york-remains-a-hub-for-global-wealth-as-market-shows-signs-of-strength-226631">help drive real-estate sales</a>, as are young professionals looking to buy for the first time, Hendrickson wrote.The number of sales in Manhattan increased by 28.7% from the last three months of 2020 to the first three of 2021, per a separate Douglas Elliman report. Luxury sales grew by 30.4% during the same time frame."Whoever wrote off <keyword id="6355838" type="LOCATION" weightage="60" keywordseo="new-york">New York</keyword> was wrong," Kenneth Horn, the founder of Alchemy Properties, told Hendrickson. "This, of course, has been horrible. We've lived through a lot different, right. But people want to live in New York. People love the vibrancy."The wealthy helped make NYC's <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> go 'round, and the uptick in real-estate purchases signals that will continue. But NYC may not even need such a financial boost - its finances are in better shape than expected. While the state's tax revenue collected over the last fiscal year was $513.3 million lower than the previous year, it was still $3 billion more than expected, <a href="https://www.bloomberg.com/news/articles/2021-04-15/new-york-state-tax-revenue-exceeds-latest-estimate-by-3-billion?sref=BLKWHazc">Comptroller Thomas DiNapoli told Bloomberg</a>, a large chunk of which came from the city.And President Joe Biden's stimulus package, which included $12.9 billion in direct aid for New York state, included $5.6 billion for NYC, which <a href="https://www.businessinsider.com/biden-stimulus-new-york-city-bailout-state-local-government-aid-2021-3">Insider's Juliana Kaplan</a> reported might have saved catastrophic cuts to the city budget. This sentiment was largely confirmed at a City Council hearing in March, when Finance Commissioner Sherif Soliman <a href="https://www.bloomberg.com/news/articles/2021-04-17/wall-street-hedge-funds-are-ready-to-get-out-of-new-york-and-move-to-florida?sref=BLKWHazc">said this federal aid</a> had given the city a "shot in the arm" financially and he said his office is optimistic for a "full recovery."NYC is also set to get another injection of money beginning next year, now that Gov. Andrew Cuomo has finalized a budget that would see millionaire New Yorkers pay 13.5% to 14.8% in local and state <keyword id="6368033" type="UNKNOWN" weightage="60" keywordseo="taxes">taxes</keyword> - the <a href="https://www.businessinsider.com/new-york-city-tax-rate-increase-andrew-cuomo-budget-proposal-2021-4">highest taxes in the country</a>.Cash is ultimately starting to flow again in NYC, a good sign for a city made of money.

It's starting to look like New York City will be just fine

<ul class="summary-list"><li><a href="https://www.businessinsider.com/new-york-city-is-back-comeback-economic-recovery-reopening-2021-5">NYC</a>'s <keyword id="48933" type="PERSON" weightage="60" keywordseo="population">population</keyword> grew by 8% in the past decade, according to new <keyword id="6372870" type="UNKNOWN" weightage="60" keywordseo="census">Census</keyword> data.</li><li>It's more evidence of the city's comeback, after being written off as slumping during the pandemic.</li><li>Many residents have already returned, and real estate is also rebounding.</li></ul>This just in: more proof that the 2020 narrative of a fading <keyword id="72226" type="COMPANY" weightage="60" keywordseo="New-York-City">New York City</keyword> was completely wrong.<keyword id="197002" type="CITY" weightage="60" keywordseo="nyc">NYC</keyword> saw its population grow by 8% in the past decade, according to <keyword id="193973" type="ORGANIZATION" weightage="60" keywordseo="Census-Bureau">Census Bureau</keyword> data released earlier this week. That's equivalent to more than 629,000 people for a population of 8.8 million.It's positive news for a city whose obituary was written countless times last year. Formerly the US epicenter of the pandemic during the first coronavirus wave last spring, NYC watched many of its young professional transplants head back to their parents' homes and its wealthy residents <a href="https://www.businessinsider.com/pandemic-tech-finance-migration-california-texas-florida-new-york-2020-12">flee upstate</a> or <a href="https://www.businessinsider.com/pandemic-tech-finance-migration-california-texas-florida-new-york-2020-12">down south</a> for more space. The urban flight fueled the story of a city that had lost its luster.City officials have partially attributed the population increase to getting a better census count after the New York's Department of City planning added 265,000 housing units that were missing from the Bureau's list. But it's still the latest evidence that the NYC mass exodus wasn't quite so massive as it was made out to be.<a href="https://www.businessinsider.com/new-york-city-exodus-florida-temporary-move-migration-manhattan-brooklyn-2021-4">Data from USPS</a> released earlier found that more Manhattanites moved to Brooklyn than anywhere else between March 2020 and February 2021 - 20,000 of them, compared with 19,000 Manhattanites who moved to Florida, only 10,000 of whom plan to stay permanently. While the number of outward migrants from the NYC metro area ticked up from 2019 to 2020 - a loss of 6.6 per 1,000 residents grew to 10.9 - those who left for the suburbs were already returning in spring, <a href="https://www.mansionglobal.com/articles/whoever-wrote-off-new-york-was-wrong-226674">Mansion Global reported</a>. People <a href="https://www.businessinsider.com/new-york-city-people-moving-back-vaccines-rise-economy-reopens-2021-5">began their return to NYC</a> in the third quarter of 2020, location data from Unacast found. In January and February, it said, migration to the city was <a href="https://www.unacast.com/white-papers/ny-2x">growing twice as fast</a> as it did in 2019.The city's real estate market, which once plummeted, has since begun to rebound. New Yorkers are <a href="https://www.businessinsider.com/millennials-upgrading-luxury-apartments-new-york-city-low-rents-pandemic-2021-3">upgrading to wealthier neighborhoods and fancier apartments</a>, while there's evidence that overseas buyers are <a href="https://www.mansionglobal.com/articles/new-york-remains-a-hub-for-global-wealth-as-market-shows-signs-of-strength-226631">starting to drive sales again</a>, as are young professionals looking to buy for the first time. The number of sales in Manhattan increased by 28.7% from the last three months of 2020 to the first three of 2021, according to a Douglas Elliman report.A Bank of America Research note from May predicted that economic reopening would further spark a domino-like return to the city, ultimately proving the mass exodus narrative more <a href="https://www.businessinsider.com/new-york-city-san-francisco-urban-exodus-migration-myth-bofa-2021-4">myth than reality</a>. It noted that NYC remained a premier city for "young renters given their status as economic, financial, and cultural centers, and the pullback in rents over the past year helps affordability."Now, not everyone has stuck around. The same USPS data found many did move for good. But those who didn't stay in the metro area still <a href="https://www.businessinsider.com/new-york-city-exodus-florida-temporary-move-migration-manhattan-brooklyn-2021-4">remained close by in the Northeast</a>, heading out east to Long Island or as far as Philadelphia. Within traveling distance to the city, it's likely they'll continue to boost NYC's <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, but through spending as visitors rather than as residents.But Stephan D. Whitaker, an analyst at the Federal Reserve Bank of Cleveland, <a href="https://www.businessinsider.com/new-york-city-people-moving-back-vaccines-rise-economy-reopens-2021-5">said that</a> while migration did increase in many urban neighborhoods, it hasn't been to the extent that it would fit the definition of an exodus.As Kenneth Horn, the founder of Alchemy Properties, <a href="https://www.mansionglobal.com/articles/whoever-wrote-off-new-york-was-wrong-226674">told Mansion Global</a>, "Whoever wrote off New York was wrong."

People can't get enough of NYC, even during a pandemic

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>The 9,680-square-foot <a href="https://www.businessinsider.com/category/penthouse">penthouse</a> of New York City's iconic <a href="https://www.businessinsider.com/category/woolworth-building">Woolworth Building</a> is back on the market for $79 million, Business Insider learned from Alchemy Properties.</li><li>It was <a href="https://www.businessinsider.com/woolworth-building-pinnacle-penthouse-sale-110-million-2017-9">first listed in 2017 for $110 million.</a></li><li>The penthouse, dubbed "The Pinnacle," occupies floors 50 through 58 and comes with a 360-degree observatory terrace 727 feet in the sky.</li><li>After a five-year restoration, the 106-year-old downtown Manhattan tower is unveiling <a href="https://thewoolworthtower.com/?gclid=EAIaIQobChMIxZeQyLTH5QIVQ5yzCh3EVA9nEAAYASAAEgKYKfD_BwE">a set of 32 luxury residences that start at $2.85 million.</a></li><li>The penthouse comes as a "white-box" unit, meaning it's fully unfurnished, with no finishings or appliances, so that the buyer can customize everything to his or her tastes.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul>The 9,680-square-foot penthouse of New York City's iconic <a href="https://www.businessinsider.com/category/woolworth-building">Woolworth Building</a> is back on the market for $79 million, Business Insider learned from the developer, Alchemy Properties.Dubbed "The Pinnacle," the luxury condo occupies the top eight floors of the 106-year-old building in downtown Manhattan. It was <a href="https://www.businessinsider.com/woolworth-building-pinnacle-penthouse-sale-110-million-2017-9">first listed back in 2017 for $110 million</a> - $31 million more than it's asking today."We realize that the market has fallen a bit, and we're realistic," Alchemy Properties CEO <a href="https://www.wsj.com/articles/pitching-a-new-york-landmarks-puzzling-penthouse-11572539514">Ken Horn told The Wall Street Journal's Katherine Clarke.</a>The apartment, which is being marketed by Douglas Elliman, will come as a "white-box" unit, without any furniture, finishings, or appliances, so that the buyer can customize every last detail to his or her tastes. Alchemy Properties tapped architect David Hotson to imagine how the interior space could look when it's fully finished.<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div>The Pinnacle is one of 32 new luxury residences being unveiled in the Woolworth Building, which was once solely a commercial tower. Originally developed by <a href="https://www.britannica.com/topic/Woolworth-Co">the F.W. Woolworth Company</a> as an office building, the Woolworth Building was nicknamed the "<a href="https://www.nypl.org/blog/2013/04/22/woolworth-building-cathedral-commerce">Cathedral of Commerce</a>" and housed tenants such as <a href="https://www.businessinsider.com/inside-new-york-citys-woolworth-building-2015-9">Nikola Tesla</a> and <a href="https://www.businessinsider.com/inside-new-york-citys-woolworth-building-2015-9">the Manhattan Project</a>.One of New York City's most historic and iconic towers, the 792-foot building was the tallest in the world for 17 years, from its completion in 1913 until 1930, at which point <a href="http://www.skyscrapercenter.com/building/chrysler-building/422">the Chrysler Building overtook it.</a><div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div>After the penthouse, the most expensive residence in the building is <a href="https://www.businessinsider.com/woolworth-building-pavilion-a-residence-tour-photos-2019-10">Pavilion A, a $29.85 million condo that spans half the 29th floor</a> and comes with skylights and 2,770 square feet of terrace space. The remaining <a href="https://thewoolworthtower.com/?gclid=EAIaIQobChMIxZeQyLTH5QIVQ5yzCh3EVA9nEAAYASAAEgKYKfD_BwE">units start at $2.85 million.</a>Residents of the Woolworth Building get access to a 50-foot swimming pool, a hot tub and sauna, and a wine tasting room and cellar with individual wine vaults for each residence.The Woolworth's penthouse is not the only luxury condo in the city being sold as a white box.The <a href="https://www.businessinsider.com/new-york-city-most-expensive-home-penthouse-photos-2019-6">most expensive current listing of that type in New York City is a $98 million</a>, five-story penthouse on Madison Avenue near the Empire State Building.The listing agent for the $98 million condo, Raphael Sitruk of Keller Williams NYC, told Business Insider that offering it white box is "like having an infinite white canvas and designing the unique apartment you're dreaming about."

The penthouse of NYC's Woolworth Building just got a $31 million price cut. Check out 'The Pinnacle,' which occupies the top 5 floors of the iconic, green-roofed skyscraper.

<ul class="summary-list"><li><keyword id="72226" type="COMPANY" weightage="60" keywordseo="New-York-City">New York City</keyword> is back.</li><li>America's biggest city is recovering as New Yorkers return and its <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> reopens.</li><li>It's not the same as pre-pandemic <keyword id="197002" type="CITY" weightage="60" keywordseo="nyc">NYC</keyword>, but it's the beginning of the city's next chapter.</li></ul>I knew <keyword id="6355838" type="LOCATION" weightage="60" keywordseo="new-york">New York</keyword> City was back when I found myself dancing on top of a booth in an East Village bar last weekend.The night began with dinner out and ended with another bargoer's drink on my shoe, eating pizza on the street, and an invitation from a six-pack-wielding stranger for my friends and I to drink beer and play "Mario Kart" at his apartment.That is all to say: It was a normal Saturday night in NYC, one event in a weekend that felt very much like the Before Times. I also worked in the Insider office for the first time that Friday and hit the gym on Sunday.Pfizer made all these adventures possible, and it seems that the vaccines are having the same effect on New Yorkers across the city.For the past month, I've noticed the magical - and exhausting - things that make New York New York coming to life again: a stalled 1 train, a crowded 6 train, getting turned down by a full cab, tourists getting in my way of shopping on Fifth Avenue, trying four newly opened restaurants, the throngs of sunbathers and picnickers in Central Park, and the familiar murmurs of gossip and chatter over wine glasses on a rooftop. It's not just a feeling: New York City's economy is genuinely healing.It's also a far cry from a year ago, when New York became the center of the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> in the US and everything that once lit up New York - the distant squares of office windows, taxi-cab lights, and Times Square - dimmed.Even today, traces of <keyword id="43587" type="ORGANIZATION" weightage="60" keywordseo="pandemic">pandemic</keyword> NYC remain. My Saturday bar closed at midnight, and it took about four attempts to grab a late-night bite to eat at a restaurant not closing by 11 p.m. on Friday night, an insult in the city that never sleeps.But the return of New Yorkers, lockdown lifting, and a financial boost have revived the city's energy. NYC as we once knew it is gone, but the big city is back.<h2>New Yorkers can't stay away</h2>NYC's obituary was written countless times in 2020, prompted by shuttering businesses and <a href="https://www.businessinsider.com/pandemic-tech-finance-migration-california-texas-florida-new-york-2020-12">the wealthy fleeing</a> to upstate for more space or to the <a href="https://www.businessinsider.com/pandemic-tech-finance-migration-california-texas-florida-new-york-2020-12">palm trees down south</a>.But the city "was just taking a nap," Bella, a 28-year-old transplant New Yorker, told me. She joked she knew it was back after recently being catcalled by a gang of bicyclers.Read more: <a href="https://www.businessinsider.com/new-york-city-exodus-florida-temporary-move-migration-manhattan-brooklyn-2021-4">Florida isn't replacing New York after all</a>The data agrees with Bella's diagnosis. The supposed mass exodus out of the city wasn't so massive, according to <a href="https://www.businessinsider.com/new-york-city-exodus-florida-temporary-move-migration-manhattan-brooklyn-2021-4">recent data from USPS</a>. According to Bloomberg, more Manhattanites moved to Brooklyn than anywhere else between March 2020 and February - 20,000 of them, compared with 19,000 Manhattanites who moved to Florida, 10,000 of whom plan to stay permanently. They'll probably be back.NYC also remains home to 7,743 ultra-high-net-worth individuals - more than any other city in the world, <a href="https://www.knightfrank.com/research/article/2021-03-01-at-a-glance-key-findings-from-the-wealth-report-2021">according to a Knight Frank and Douglas Elliman report</a> from March. <a href="https://www.mansionglobal.com/articles/whoever-wrote-off-new-york-was-wrong-226674">Mansion Global said</a> the number of outward migrants from the NYC metro area ticked upward from 2019 to 2020 - a loss of 6.6 per 1,000 residents grew to 10.9 - but those who left for the suburbs were already returning.<div type="image" title="Washington Square PArk NYC" height="1666" width="2222" msid="83087678" hostid="261"></div>City real estate, once plummeting, is rebounding. New Yorkers are <a href="https://www.businessinsider.com/millennials-upgrading-luxury-apartments-new-york-city-low-rents-pandemic-2021-3">upgrading to wealthier neighborhoods and fancier apartments</a>, while there's evidence that overseas buyers are <a href="https://www.mansionglobal.com/articles/new-york-remains-a-hub-for-global-wealth-as-market-shows-signs-of-strength-226631">starting to drive sales again</a>, as are young professionals looking to buy for the first time. The number of sales in Manhattan increased by 28.7% from the last three months of 2020 to the first three of 2021, according to a Douglas Elliman report.Brooklyn's real-estate market is <a href="https://www.businessinsider.com/brooklyn-real-estate-demand-prices-statistics-coronavirus-recovery-2021-1">recovering the fastest</a>, and the borough has become so popular, it now <a href="https://www.businessinsider.com/brooklyn-manhattan-apartment-rent-gap-history-comparison-2021-4">costs nearly as much to live there</a> as it does in Manhattan, The New York Times reported."Whoever wrote off New York was wrong," Kenneth Horn, the founder of Alchemy Properties, told Mansion Global. "This, of course, has been horrible. We've lived through a lot different, right. But people want to live in New York. People love the vibrancy."<h2>Late-night bars and subways</h2>NYC hasn't even reached its peak return of residents, but it already feels alive. A recent Bank of America Research note, from a team led by Head of US Economics Michelle Meyer, said this month would spark a dominolike return to the city, ultimately proving the mass exodus narrative was more <a href="https://www.businessinsider.com/new-york-city-san-francisco-urban-exodus-migration-myth-bofa-2021-4">myth than reality</a>.By the end of May, restrictions lifted include: most industry capacity limits, the limit on residential outdoor gatherings, the mask mandate for vaccinated people, and the midnight outdoor- and indoor-dining-area curfew for bars and restaurants.Read more: <a href="https://www.businessinsider.com/new-york-city-san-francisco-urban-exodus-migration-myth-bofa-2021-4">The urban exodus out of New York City and San Francisco is more myth than reality</a>As a city dweller, I no longer have to order food with my Moscow mule, and I can resume my love-hate relationship with the subway again 24/7. I can <a href="https://www.broadway.com/announcement/covid-19-update/">book a ticket for Broadway</a> in September, listen to <a href="https://fansided.com/2021/05/23/knicks-fans-crowd-noise-madison-square-garden-playoffs-video/">crowds roar during a Knicks game</a> at Madison Square Garden, and <a href="https://www.timeout.com/newyork/news/these-nyc-libraries-are-officially-reopening-for-in-person-browsing-next-month-042921">start checking out library books</a>.As Gov. Andrew <keyword id="513036" type="PERSON" weightage="60" keywordseo="Cuomo">Cuomo</keyword> of New York <a href="https://twitter.com/NYGovCuomo/status/1389272660744581125?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1389272660744581125%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.nbcnewyork.com%2Fnews%2Fcoronavirus%2Fnyc-bar-scene-roars-back-monday-kicking-off-key-reopening-week-big-nj-news-due%2F3032296%2F6%2F">wrote in a Tweet</a> announcing some of these reopenings earlier this month, "NY is coming back!"<div type="image" title="new york city subway" height="1796" width="2394" msid="83087681" hostid="261"></div>Now, while the state of New York officially reopened in May, Mayor <a href="https://www.businessinsider.com/nyc-full-reopening-july-1-ready-bill-de-blasio-2021-4">Bill de Blasio has announced</a> that he's eyeing a full reopening for the city on July 1 and plans to <a href="https://www.nytimes.com/live/2021/05/24/world/covid-vaccine-coronavirus-mask#new-york-city-schools-reopen-fall">eliminate remote learning</a> come fall. But the Legislature unwinding many of the lifts has made it feel like city is already back in action.Offices, too, have jumped on the reopening spree. <a href="https://www.businessinsider.com/credit-suisse-new-york-bankers-return-to-office-memo-vaccinations-2021-5">Wall Street is preparing for its summer return</a> in a matter of weeks, with both Credit Suisse and Goldman Sachs asking their employees to come back to the office starting mid-June. Over in tech, <a href="https://commercialobserver.com/2021/05/facebook-to-bring-some-employees-back-to-nyc-offices-in-july/#:~:text=Social%20media%20giant%20Facebook%20is,percent%20capacity%2C%20according%20to%20Bloomberg.">Facebook is gearing up</a> to bring its employees back to its New York City offices."I haven't had hope for any return to actual normalcy until now, seeing people both indoor and outdoors without masks, and it's really starting to hit me that this wasn't actually going to be forever," Kelsey Peter, a 27-year-old nonprofit worker who stayed in NYC when the pandemic hit, told Insider.<h2>Cash is flowing</h2>The boomerang migration, uptick in real estate, and economic reopening are all helping cash flow again in a city made of money.Card spending was up by 38% in the NYC metro area compared with the previous year and 17% compared with two years ago for the week ending May 22, according to BofA Research.Spending on brick-and-mortar retail in NYC by local households hovered around 70% by the end of 2020, as compared to a 74% pre-pandemic trend, indicating a minimal drop from outmigration, BofA also found, while in-person spending on restaurants has improved. As of mid-April, it was still down 30% compared with two years ago but a major improvement from the 70% drop at the end of January.NYC's finances are also in better shape than expected. While the state's tax revenue collected over the past fiscal year was $513.3 million lower than the previous year, the state was fearing a $3 billion bigger drop, <a href="https://www.bloomberg.com/news/articles/2021-04-15/new-york-state-tax-revenue-exceeds-latest-estimate-by-3-billion?sref=BLKWHazc">New York Comptroller Thomas DiNapoli told Bloomberg</a>, and a large chunk of that came from the city. <div type="image" title="times square new york city" height="1662" width="2217" msid="83087683" hostid="261"></div>And President Joe Biden's stimulus package included $5.6 billion for NYC, which <a href="https://www.businessinsider.com/biden-stimulus-new-york-city-bailout-state-local-government-aid-2021-3">Insider's Juliana Kaplan</a> reported likely saved catastrophic cuts to the city <keyword id="6358021" type="ORGANIZATION" weightage="60" keywordseo="budget">budget</keyword>. This sentiment was largely confirmed at a City Council hearing in March, when Department of Finance Commissioner Sherif Soliman <a href="https://www.bloomberg.com/news/articles/2021-04-17/wall-street-hedge-funds-are-ready-to-get-out-of-new-york-and-move-to-florida?sref=BLKWHazc">said this federal aid</a> had given the city a "shot in the arm" financially and his office was optimistic for a "full recovery."At the end of April, <keyword id="1861730" type="PERSON" weightage="60" keywordseo="De-Blasio">de Blasio</keyword> announced a $98.6 billion budget, $10 billion higher than previously planned, to help jump-start the city's recovery. "These investments are about bringing the city back, and they just can't wait," he said in a press briefing, according to <a href="https://www.nydailynews.com/news/politics/new-york-elections-government/ny-nyc-budget-2020-recovery-de-blasio-20210426-3o6amhlc75dyxjtsxt45hxbr4e-story.html">the New York Daily News</a>. "Sometimes you have to spend money to make money."Read more: <a href="https://www.businessinsider.com/new-york-city-tax-rate-increase-andrew-cuomo-budget-proposal-2021-4">Millionaire New Yorkers are now set to pay the highest taxes in the country</a>However, long-term budget challenges still loom. Some <a href="https://www.nydailynews.com/news/politics/new-york-elections-government/ny-nyc-budget-2020-recovery-de-blasio-20210426-3o6amhlc75dyxjtsxt45hxbr4e-story.html">experts have said there's no guarantee</a> NYC will be able to continue funding de Blasio's budget, calling on him to do more.But NYC is also set to get another injection of money beginning next year, now that Cuomo has finalized a budget that would have millionaire New Yorkers pay 13.5% to 14.8% in local and state taxes - the <a href="https://www.businessinsider.com/new-york-city-tax-rate-increase-andrew-cuomo-budget-proposal-2021-4">highest taxes in the country</a>.<h2>NYC's next chapter</h2>To say NYC 2021 resembles NYC 2019 would be inaccurate. Several aspects of the city still aren't quite "normal."Tourism may not fully recover <a href="https://www.nytimes.com/2020/11/16/nyregion/nyc-tourism-covid.html?searchResultPosition=1">until 2025</a>, plenty of the wealthy <a href="https://www.businessinsider.com/new-york-city-san-francisco-urban-exodus-migration-myth-bofa-2021-4">did permanently move</a> or have yet to return, and central business districts <a href="https://www.nytimes.com/2021/04/13/realestate/new-york-city-retail.html">like midtown</a> aren't their typical bustling selves. The amount of Manhattan office space available is the <a href="https://www.bloomberg.com/news/articles/2021-03-02/new-york-real-estate-rent-drops-and-covid-deals-draw-bargain-hunters-to-nyc?sref=VZfphyBG">highest it's been in 30 years</a>, and rents also <a href="https://www.curbed.com/2021/05/nyc-rental-market-bottomed-out.html">haven't reached their pre-pandemic norms</a>, signaling that NYC's population still isn't what it was. Urban areas stand to see an estimated <a href="https://www.businessinsider.com/economic-outlook-consumer-spending-drop-cities-work-home-commute-study-2021-4">10% drop in spending</a> from an economy where more workers are remote - and even more in cities like New York. The city's vaccination rollout could also pose a challenge to the progress made so far. While nearly 61% of NYC adults have <a href="https://www1.nyc.gov/site/doh/covid/covid-19-data-vaccines.page">at least one dose of the vaccine</a>, that still leaves about 39% who aren't vaccinated. Vaccination rates are <a href="https://www.nbcnewyork.com/news/coronavirus/fauci-hints-at-seasonal-future-for-masks-as-nys-rolling-covid-positivity-rate-drops-for-34th-straight-day/3045707/">slowing across the state</a> as a whole, leading <a href="https://www.nydailynews.com/coronavirus/ny-nyc-covid-vaccination-perks-de-blasio-20210524-et4ndrz2kzaq7pkjdzn7sywk6y-story.html">de Blasio to offer weekly incentives</a> for getting vaccinated.The contagious coronavirus variant spreading throughout India and other parts of Asia may also bring with it a risk of some form of lockdown returning later this year. On Thursday, <a href="https://www.thedailybeast.com/india-variant-becomes-dominant-in-britain-threatens-to-wreck-boris-johnsons-grand-reopening?source=articles&amp;via=rss=rss">UK Prime Minister Boris Johnson said</a> that the country's full reopening could be delayed because of the variant, despite a successful vaccination campaign similar to America's.<div type="image" title="baby brasa's nyc" height="1666" width="2222" msid="83087685" hostid="261"></div>And while NYC is never going to return to its 2019 economy, just as <a href="https://www.businessinsider.com/april-jobs-report-signals-new-economy-changes-experience-leisure-hospitality-2021-5">America itself won't</a>, that doesn't mean that the city has lost its luster. Much like it did after the Great Depression and 9/11, NYC is entering the next chapter of its life - and that's starting now, in line with the <a href="https://www.nytimes.com/news-event/nyc-mayor-race">race for a new mayor</a> come November.BofA noted potential for some recovery in the near term, as NYC remains a "premier city for young renters given status as economic, financial, and cultural centers." The pullback in rents, it said, has also helped make NYC living more affordable and enticing for young professionals.Read more: <a href="https://www.businessinsider.com/new-york-city-economic-recovery-not-dead-andrew-cuomo-2021-4">It's starting to look like New York City will be just fine</a>As the city was once America's coronavirus center, NYC's reopening serves as a metaphor for the country's pandemic progress. It's also revived the city's intangible energy.For some, this part of NYC never died. Even when the city felt empty, Peter said, there were so many people looking out for each other."You would get used to seeing the same vendor's face at the wine store or at the coffee shop when you're getting to-go," she added. "That was all during the worst of it, and things only got better from there. It was always a community."As someone who also rode out the pandemic out in Manhattan, I agree with Peter. My local bodega owner, the friendly parking-garage attendant on my street, and a fellow parkgoer and his five poodles became the faces I'd typically see during my pandemic routine. With endless options to experience the city again, I'm back to encountering strangers and forgotten faces on the regular, from my waiter at Lil' Frankie's to my hairstylist and colorist, so much so that it's getting somewhat exhausting.That can mean only one thing: New York is back.

New York City is back

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://pictures.reuters.com/Package/2C0BF1OS796_K#/SearchResult&amp;ALID=2C0BF1OS796_K&amp;VBID=2C0BX4176I3R&amp;POPUPPN=12&amp;POPUPIID=2C0BF1OSWLJKD">Reuters/Damir Sagolj</a>Chinese artist Kong Ning in her costume made of hundreds of orange plastic blowing horns during her art performance raising awareness of the hazardous smog in front of the Drum tower in a historical part of Beijing on a polluted day.</div></div></div>Here is what you need to know.<a href="http://www.businessinsider.com.au/chinas-trade-data-is-better-than-expected-2015-12">Weak trade data dropped China's currency to its lowest close in over four years</a>. China's trade surplus narrowed to 343.1 billion yuan ($54.1 billion) in November. Exports slumped 3.7% compared with last year, and imports fell 5.6%. In response to the data, China's yuan slipped 0.2% to 6.4179 per dollar, finishing at its weakest level since August 2011.<a href="http://www.businessinsider.com/japanese-2015-recession-revised-away-2015-12?r=UK&amp;IR=T">Japan isn't in a recession</a>. A revision to Japan's third-quarter gross-domestic-product report has allowed the country's economy to escape recession. Initially, the Japanese economy was said to have contracted by 0.2% during the quarter, but Tuesday's revision shows it actually expanded at a 0.3% clip. Annually, Japan's economy grew a seasonally adjusted 1.0%. The Japanese yen is weaker by 0.2% at 123.10 per dollar.<a href="http://www.businessinsider.com/uk-industrial-production-figures-october-2015-12?r=UK&amp;IR=T">UK manufacturing disappointed</a>. Manufacturing production fell 0.4% in October, missing the flat reading that was expected. The weak number has production down 0.1% compared with last year, which was shy of the 0.1% increase that was expected. The British pound is down 0.4% near 1.5000.<a href="http://www.businessinsider.com/nike-gave-lebron-james-a-lifetime-shoe-deal-2015-12">LeBron James signed a lifetime deal with Nike</a>. ESPN's Darren Rovell reports LeBron's deal "easily surpasses" the 10-year, $300 million deal signed by Kevin Durant last year. According to Rovell, the two sides discussed LeBron branching out to form his own brand but eventually decided against it. David Falk, Michael Jordan's agent for most of Jordan's playing career, told Bloomberg <a href="http://www.bloomberg.com/news/articles/2015-12-07/lebron-james-signs-unprecedented-lifetime-contract-with-nike">the deal could be worth as much as $500 million</a>.<a href="http://www.businessinsider.com/boston-college-warns-students-to-avoid-chipotle-2015-12">Chipotle's E. coli problem appears to be spreading</a>. Several Boston College students have fallen ill after eating at a nearby Chipotle, according to SB Nation's Boston College blog and several local media outlets. In a statement to Business Insider, a school official said: "Boston College has confirmed that several BC students and student-athletes, including members of the BC men's basketball team, have reported to BC Health Services complaining of gastrointestinal symptoms. The common factor among the students is that they had all eaten at the Chipotle restaurant in Cleveland Circle." Shares of Chipotle were down as much as 5% in the after-hours session.<a href="http://globenewswire.com/news-release/2015/12/08/793702/10158087/en/Toll-Brothers-Reports-4th-Qtr-and-FYE-2015-Results.html?f=22&amp;fvtc=6&amp;fvtv=TOL">Toll Brothers posted a mixed quarter</a>. The housing behemoth announced earnings of $0.82 per share, missing the Bloomberg estimate by a penny. Revenue climbed 6.4% to $1.44 billion, ahead of the $1.42 billion that was expected. Toll Brothers has a backlog of 4,064 units up from 3,679 units a year ago. "The housing market continues on a pace of steady growth, and we are well positioned to take advantage of this growth," CEO Douglas C. Yearley Jr. noted in the release.<a href="http://www.businessinsider.com/anglo-american-announces-radical-restructuring-of-its-business-2015-12">The world's largest miner is eliminating about two-thirds of its workforce</a>. The mining giant Anglo American is cutting about 85,000 jobs, according to reports from AFP and The Wall Street Journal. The "radical" restructuring comes as the miner tries to navigate the recent commodity slump. Other initiatives include shedding about 60% of its assets, suspending its dividend, cutting $3.7 billion in costs by the end of 2017 and consolidating its six businesses into three.<a href="http://www.businessinsider.com/ben-bernanke-to-join-pimco-2015-12">Ben Bernanke has joined Pimco</a>. Former Fed Chair Ben Bernanke has been named to Pimco's newly formed Global Advisory Board. Joining Bernanke on the board will be former UK Prime Minister Gordon Brown and former European Central Bank president Jean-Claude Trichet. "The board members will contribute their insights to the firm on global economic, political, and strategic developments and their relevance for financial markets," the press release said.Stock markets around the world are lower. China's Shanghai Composite (-1.9%) paced the decline in Asia and Germany's DAX (-1.1%) leads the way lower in Europe. S&amp;P 500 futures are lower by 14.50 points at 2,066.50.US economic data is light. 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<div class="KonaFilter image-container display-table float_right"><div><div class="image">AP Photo/The University of Texas at Austin, Marsha MillerNaval Adm. William H. McRaven</div></div></div>Naval Admiral William H. <a href="Naval%20Adm.%20William%20H.%20McRaven%20delivers%20an%20amazing%20University%20of%20Texas%20at%20Austin%202014%20Commencement%20Address." target="_blank">McRaven delivers an amazing University of Texas at Austin 2014 Commencement Address</a>.
Below is an abbreviated transcript of his speech:
The University's slogan is,
"What starts here changes the world."
I have to admit-I kinda like it.
"What starts here changes the world."
Tonight there are almost 8,000 students graduating from UT.
That great paragon of analytical rigor, Ask.Com says that the average American will meet 10,000 people in their lifetime.
That's a lot of folks.
But, if every one of you changed the lives of just ten people-and each one of those folks changed the lives of another ten people-just ten-then in five generations-125 years-the class of 2014 will have changed the lives of 800 million people.
800 million people-think of it-over twice the population of the United States. Go one more generation and you can change the entire population of the world-8 billion people.
If you think it's hard to change the lives of ten people-change their lives forever-you're wrong.
I saw it happen every day in Iraq and Afghanistan.
A young Army officer makes a decision to go left instead of right down a road in Baghdad and the ten soldiers in his squad are saved from close-in ambush.
In Kandahar province, Afghanistan, a non-commissioned officer from the Female Engagement Team senses something isn't right and directs the infantry platoon away from a 500 pound IED, saving the lives of a dozen soldiers.
But, if you think about it, not only were these soldiers saved by the decisions of one person, but their children yet unborn-were also saved. And their children's children-were saved.
Generations were saved by one decision-by one person.
But changing the world can happen anywhere and anyone can do it.
So, what starts here can indeed change the world, but the question is…what will the world look like after you change it?
Well, I am confident that it will look much, much better, but if you will humor this old sailor for just a moment, I have a few suggestions that may help you on your way to a better a world.
And while these lessons were learned during my time in the military, I can assure you that it matters not whether you ever served a day in uniform.
It matters not your gender, your ethnic or religious background, your orientation, or your social status.
Our struggles in this world are similar and the lessons to overcome those struggles and to move forward-changing ourselves and the world around us-will apply equally to all.
I have been a Navy SEAL for 36 years. But it all began when I left UT for Basic SEAL training in Coronado, California.
Basic SEAL training is six months of long torturous runs in the soft sand, midnight swims in the cold water off San Diego, obstacles courses, unending calisthenics, days without sleep and always being cold, wet and miserable.
It is six months of being constantly harassed by professionally trained warriors who seek to find the weak of mind and body and eliminate them from ever becoming a Navy SEAL.
But, the training also seeks to find those students who can lead in an environment of constant stress, chaos, failure and hardships.
To me basic SEAL training was a life time of challenges crammed into six months.
So, here are the ten lessons I learned from basic SEAL training that hopefully will be of value to you as you move forward in life.
Every morning in basic SEAL training, my instructors, who at the time were all Vietnam veterans, would show up in my barracks room and the first thing they would inspect was your bed.
If you did it right, the corners would be square, the covers pulled tight, the pillow centered just under the headboard and the extra blanket folded neatly at the foot of the rack-rack-that's Navy talk for bed.
It was a simple task-mundane at best. But every morning we were required to make our bed to perfection. It seemed a little ridiculous at the time, particularly in light of the fact that were aspiring to be real warriors, tough battle hardened SEALs-but the wisdom of this simple act has been proven to me many times over.
If you make your bed every morning you will have accomplished the first task of the day. It will give you a small sense of pride and it will encourage you to do another task and another and another.
By the end of the day, that one task completed will have turned into many tasks completed. Making your bed will also reinforce the fact that little things in life matter.
If you can't do the little things right, you will never do the big things right.
And, if by chance you have a miserable day, you will come home to a bed that is made-that you made-and a made bed gives you encouragement that tomorrow will be better.
1. If you want to change the world, start off by making your bed.
During SEAL training the students are broken down into boat crews. Each crew is seven students-three on each side of a small rubber boat and one coxswain to help guide the dingy.
Every day your boat crew forms up on the beach and is instructed to get through the surf zone and paddle several miles down the coast.
In the winter, the surf off San Diego can get to be 8 to 10 feet high and it is exceedingly difficult to paddle through the plunging surf unless everyone digs in.
Every paddle must be synchronized to the stroke count of the coxswain. Everyone must exert equal effort or the boat will turn against the wave and be unceremoniously tossed back on the beach.
For the boat to make it to its destination, everyone must paddle.
You can't change the world alone-you will need some help- and to truly get from your starting point to your destination takes friends, colleagues, the good will of strangers and a strong coxswain to guide them.
2. If you want to change the world, find someone to help you paddle.
Over a few weeks of difficult training my SEAL class which started with 150 men was down to just 35. There were now six boat crews of seven men each.
I was in the boat with the tall guys, but the best boat crew we had was made up of the the little guys-the munchkin crew we called them-no one was over about 5-foot five.
The munchkin boat crew had one American Indian, one African American, one Polish American, one Greek American, one Italian American, and two tough kids from the mid-west.
They out paddled, out-ran, and out swam all the other boat crews.
The big men in the other boat crews would always make good natured fun of the tiny little flippers the munchkins put on their tiny little feet prior to every swim.
But somehow these little guys, from every corner of the Nation and the world, always had the last laugh- swimming faster than everyone and reaching the shore long before the rest of us.
SEAL training was a great equalizer. Nothing mattered but your will to succeed. Not your color, not your ethnic background, not your education and not your social status.
3. If you want to change the world, measure a person by the size of their heart, not the size of their flippers.
Several times a week, the instructors would line up the class and do a uniform inspection. It was exceptionally thorough.
Your hat had to be perfectly starched, your uniform immaculately pressed and your belt buckle shiny and void of any smudges.
But it seemed that no matter how much effort you put into starching your hat, or pressing your uniform or polishing your belt buckle-- it just wasn't good enough.
The instructors would find "something" wrong.
For failing the uniform inspection, the student had to run, fully clothed into the surfzone and then, wet from head to toe, roll around on the beach until every part of your body was covered with sand.
The effect was known as a "sugar cookie." You stayed in that uniform the rest of the day-cold, wet and sandy.
There were many a student who just couldn't accept the fact that all their effort was in vain. That no matter how hard they tried to get the uniform right-it was unappreciated.
Those students didn't make it through training.
Those students didn't understand the purpose of the drill. You were never going to succeed. You were never going to have a perfect uniform.
Sometimes no matter how well you prepare or how well you perform you still end up as a sugar cookie.
It's just the way life is sometimes.
4. If you want to change the world get over being a sugar cookie and keep moving forward.
Every day during training you were challenged with multiple physical events-long runs, long swims, obstacle courses, hours of calisthenics-something designed to test your mettle.
Every event had standards-times you had to meet. If you failed to meet those standards your name was posted on a list and at the end of the day those on the list were invited to-a "circus."
A circus was two hours of additional calisthenics-designed to wear you down, to break your spirit, to force you to quit.
No one wanted a circus.
A circus meant that for that day you didn't measure up. A circus meant more fatigue-and more fatigue meant that the following day would be more difficult-and more circuses were likely.
But at some time during SEAL training, everyone-everyone-made the circus list.
But an interesting thing happened to those who were constantly on the list. Over time those students--who did two hours of extra calisthenics-got stronger and stronger.
The pain of the circuses built inner strength-built physical resiliency.
Life is filled with circuses.
You will fail. You will likely fail often. It will be painful. It will be discouraging. At times it will test you to your very core.
5. But if you want to change the world, don't be afraid of the circuses.
At least twice a week, the trainees were required to run the obstacle course. The obstacle course contained 25 obstacles including a 10-foot high wall, a 30-foot cargo net, and a barbed wire crawl to name a few.
But the most challenging obstacle was the slide for life. It had a three level 30 foot tower at one end and a one level tower at the other. In between was a 200-foot long rope.
You had to climb the three tiered tower and once at the top, you grabbed the rope, swung underneath the rope and pulled yourself hand over hand until you got to the other end.
The record for the obstacle course had stood for years when my class began training in 1977.
The record seemed unbeatable, until one day, a student decided to go down the slide for life-head first.
Instead of swinging his body underneath the rope and inching his way down, he bravely mounted the TOP of the rope and thrust himself forward.
It was a dangerous move-seemingly foolish, and fraught with risk. Failure could mean injury and being dropped from the training.
Without hesitation-the student slid down the rope-perilously fast, instead of several minutes, it only took him half that time and by the end of the course he had broken the record.
6. If you want to change the world sometimes you have to slide down the obstacle head first.
During the land warfare phase of training, the students are flown out to San Clemente Island which lies off the coast of San Diego.
The waters off San Clemente are a breeding ground for the great white sharks. To pass SEAL training there are a series of long swims that must be completed. One-is the night swim.
Before the swim the instructors joyfully brief the trainees on all the species of sharks that inhabit the waters off San Clemente.
They assure you, however, that no student has ever been eaten by a shark-at least not recently.
But, you are also taught that if a shark begins to circle your position-stand your ground. Do not swim away. Do not act afraid.
And if the shark, hungry for a midnight snack, darts towards you-then summons up all your strength and punch him in the snout and he will turn and swim away.
There are a lot of sharks in the world. If you hope to complete the swim you will have to deal with them.
7. So, if you want to change the world, don't back down from the sharks.
As Navy SEALs one of our jobs is to conduct underwater attacks against enemy shipping. We practiced this technique extensively during basic training.
The ship attack mission is where a pair of SEAL divers is dropped off outside an enemy harbor and then swims well over two miles-underwater-using nothing but a depth gauge and a compass to get to their target.
During the entire swim, even well below the surface there is some light that comes through. It is comforting to know that there is open water above you.
But as you approach the ship, which is tied to a pier, the light begins to fade. The steel structure of the ship blocks the moonlight-it blocks the surrounding street lamps-it blocks all ambient light.
To be successful in your mission, you have to swim under the ship and find the keel-the center line and the deepest part of the ship.
This is your objective. But the keel is also the darkest part of the ship-where you cannot see your hand in front of your face, where the noise from the ship's machinery is deafening and where it is easy to get disoriented and fail.
Every SEAL knows that under the keel, at the darkest moment of the mission-is the time when you must be calm, composed-when all your tactical skills, your physical power and all your inner strength must be brought to bear.
8. If you want to change the world, you must be your very best in the darkest moment.
The ninth week of training is referred to as "Hell Week." It is six days of no sleep, constant physical and mental harassment and-one special day at the Mud Flats-the Mud Flats are an area between San Diego and Tijuana where the water runs off and creates the Tijuana slue's-a swampy patch of terrain where the mud will engulf you.
It is on Wednesday of Hell Week that you paddle down to the mud flats and spend the next 15 hours trying to survive the freezing cold mud, the howling wind and the incessant pressure to quit from the instructors.
As the sun began to set that Wednesday evening, my training class, having committed some "egregious infraction of the rules" was ordered into the mud.
The mud consumed each man till there was nothing visible but our heads. The instructors told us we could leave the mud if only five men would quit-just five men and we could get out of the oppressive cold.
Looking around the mud flat it was apparent that some students were about to give up. It was still over eight hours till the sun came up-eight more hours of bone chilling cold.
The chattering teeth and shivering moans of the trainees were so loud it was hard to hear anything and then, one voice began to echo through the night-one voice raised in song.
The song was terribly out of tune, but sung with great enthusiasm.
One voice became two and two became three and before long everyone in the class was singing.
We knew that if one man could rise above the misery then others could as well.
The instructors threatened us with more time in the mud if we kept up the singing-but the singing persisted.
And somehow-the mud seemed a little warmer, the wind a little tamer and the dawn not so far away.
If I have learned anything in my time traveling the world, it is the power of hope. The power of one person-Washington, Lincoln, King, Mandela and even a young girl from Pakistan-Malala-one person can change the world by giving people hope.
9. So, if you want to change the world, start singing when you're up to your neck in mud.
Finally, in SEAL training there is a bell. A brass bell that hangs in the center of the compound for all the students to see.
All you have to do to quit-is ring the bell. Ring the bell and you no longer have to wake up at 5 o'clock. Ring the bell and you no longer have to do the freezing cold swims.
Ring the bell and you no longer have to do the runs, the obstacle course, the PT-and you no longer have to endure the hardships of training.
Just ring the bell.
10. If you want to change the world don't ever, ever ring the bell.
To the graduating class of 2014, you are moments away from graduating. Moments away from beginning your journey through life. Moments away from starting to change the world-for the better.
It will not be easy.
But, YOU are the class of 2014-the class that can affect the lives of 800 million people in the next century.
Start each day with a task completed.
Find someone to help you through life.
Respect everyone.
Know that life is not fair and that you will fail often, but if you take take some risks, step up when the times are toughest, face down the bullies, lift up the downtrodden and never, ever give up-if you do these things, then next generation and the generations that follow will live in a world far better than the one we have today and-what started here will indeed have changed the world-for the better.
Thank you very much. Hook 'em horns.<div class="feed-footer-wrapper"><div class="feed-footer">

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