Gramercy Park is a four-acre square given in perpetuity to the residents surrounding it, 170 years ago, by Samuel Ruggles, a real estate developer of immoderate means.
I always felt very secure and very safe with real estate. Real estate always appreciates.
Musically, what happened was this: I retired twice. I retired after The Black Crowes, and I retired after Brand New Immortals. Then, we started buying real estate, which really took up my time. I was busy. I was still teaching yoga, but I was mostly busy running business, and I was fine. I was happy.
Five centuries from now - barring unimaginable catastrophe - the moon will be developed real estate. There's economic incentive to exploit the moon - the helium-3 will be useful in powering fusion reactors, and the rare earth elements could supplant the limited terrestrial supply of these materials.
I don't think it ever occurred to me that I wouldn't be an entrepreneur. My dad became a real estate developer, and that work is usually project-based. You attract investors for a project with a certain life cycle, and then you move on to the next thing. It's almost like being a serial entrepreneur, so I had that as an example.
The positive aspect of my negative view is essentially that you shouldn't own cash and government bonds, but you should be in assets like real estate or equities or precious metals or in commodities.
