David Bonderman on aviation policy
From An interview with David Bonderman, founding partner of TPG Capital | by Juan Mora, Los Angeles · · UnitNetwork
“The Europeans have put up funds — billions — to pay pilots and flight attendants so airlines don't have to lay them off; the U.S. has done the opposite and insisted airlines keep flying, which is just causing bigger losses.”
On , David Bonderman, Cofounder at TPG, spoke about aviation policy during An interview with David Bonderman, founding partner of TPG Capital | by Juan Mora, Los Angeles on UnitNetwork.
About David Bonderman
In a May 2020 interview, David Bonderman, founding partner of TPG Capital, discussed a range of topics including private equity, venture capital, and the U.S. response to the COVID-19 pandemic. Bonderman described the difference between venture capital and private equity, stating that venture capital involves taking risks on new businesses with no track record, while private equity focuses on established businesses where issues include management quality and the ability to affect change. He commented on the U.S. government's pandemic response, saying that if he were running the country he would "pay attention to the science" and "make use of testing in places it should be used and not worry about my personal popularity." Bonderman also criticized the U.S. approach to airlines during the pandemic, noting that European countries had provided funds to pay pilots and flight attendants to avoid layoffs, while the U.S. had "done the opposite and insisted airlines keep flying, which is just causing bigger losses." Bonderman also shared his views on corporate responsibility, stating that the belief that the only duty of corporations is to shareholders is "not the right answer anymore" and predicted change driven by U.S. pension funds. He described Elon Musk as "a force of nature" and "a brilliant guy," but added that "compliance with the securities laws is not one of his strengths" and predicted Musk would "get in trouble again." On the topic of taxes, Bonderman said that people should "pay their fair share" and that there are "too much tax benefits going to the wealthy and not enough to the middle class." He also reflected on risk-taking, advising that while "if you don't take any risks you can't fail," one should "examine your appetite for risk" and noted that appetite tends to decrease with age.