Tokenizing the Private Market & NYC’s Housing Shortage 7/1/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 1 July 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Senators worked through the night Monday as President Trump’s sweeping legislative package struggled to gain passing support in the Senate. CNBC’s Emily Wilkins reports on the record-setting vote-a-rama and what’s at stake for the President’s second-term agenda. RXR chairman and CEO Scott Rechler shares his perspective on the NYC mayoral race, candidate Zohran Mamdani’s campaign promises, and solutions to the city’s housing shortage. Republic is launching a SpaceX token that offers unaccredited investors an opportunity to invest in the company pre-IPO. Co-CEO Andrew Durgee explains his platform, its regulatory hurdles, and the future of tokenized investing. Plus, CNBC’s Steve Kovach reports on Apple’s plans to overhaul Siri as the company looks for new AI partners. Emily Wilkins - 02:42 Steve Kovach - 10:42 Scott Rechler - 22:33 Andrew Durgee - 32:14 In this episode: Emily Wilkins, @emrwilkins Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:04.3	This is SquawkPod, and I'm CNBC producer Cameron Costa.
0:08.6	On today's episode, New York real estate developers are nervous about mayoral candidate
0:15.3	Mumdani's agenda, but RXR CEO, Scott Rackler, is one developer still not convinced that he'll win.
0:23.0	New Yorkers who come here for opportunity that this is the capital of capitalism,
0:27.0	I think, you know, they're going to come out and say, I don't want a socialist for mayor.
0:30.8	Apple weighing AI partners for Siri.
0:33.9	Steve Kovac explains the future of tech assistants and tech giants.
0:38.3	This is the stick of your ecosystem.
0:40.3	That's what I'm going to ask me right now.
0:42.3	You're going to ask Siri more than you're going to go in and open the chatchee BT app.
0:46.3	Plus, the push to expand trading beyond the public markets, an open private company is like SpaceX, up to retail investors.
0:55.6	Co-CEO of Republic, Andrew Durgey, is doing just that, and he's using the blockchain.
1:01.5	We are giving people an opportunity to participate in a very limited capacity in something
1:05.8	that they've been kept out of previous.
1:08.1	But there could be a legal reason why pre-IPO access for unaccredited investors isn't more
1:14.0	common.
1:15.0	What you're doing is effectively at odds with what the law is intended to do.
1:22.3	It's Tuesday, July 1st, and Squawk Pod begins right now. Stand Becky by in three, two, one.
1:30.1	Cule, please.
1:32.1	Good morning, everybody.
1:33.5	Welcome to Squawk Box right here on CNBC.
	...

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