The Metroplex Civic and Business Association (MCBA) continued its influential Leadership Luncheon series on Tuesday at Perry’s Steakhouse in Uptown Dallas, drawing a packed room of the Lone Star State’s leaders.
Amy Robbins, founder and CEO of Alexo Athletica, served as emcee, while the fireside chat featured Dallas investor and philanthropist Doug Deason.
The event follows last month’s MCBA luncheon featuring Saks Global Executive Chairman Richard Baker.
Deason, president of Deason Capital Services and a board member of Adams Extracts & Spices, Lone Star Justice Alliance, Florida Foundation for Correctional Excellence, Ryan LLC, Valesco Industries, and several major academic and civic institutions including the MD Anderson Cancer Center Board of Visitors and SMU’s Bobby Lyle School of Engineering Executive Board, delivered an unapologetically optimistic assessment of Texas’ economic trajectory and the opportunities for Texans ahead.
Reflecting on the growth seen over the last decade, Deason told the crowd, “When I came on 11 years ago, if I had any sense at all, I would have just said, Let’s just buy real estate…” Deason would go on to speak on how Texas is on pace to add 15 million residents within ten years and described his long-term bullishness on not only real estate, but now also the tech sector.
He would go on to describe the incoming wave of influence on Texas from other sectors like artificial intelligence, and how that wave will only continue to grow.
Deason highlighted his recent addition to the board of Galaxy Digital, a NASDAQ-listed cryptocurrency and digital-assets firm led by CEO Mike Novogratz, and pointed to the company’s data center near Lubbock that is doubling in size. “We have a 400 megawatt datacenter up near Lubbock, and we have an allocation for another 400 meg. I am very bullish on AI for long term… AI is going to change the world, and theres no reason we should be left behind,” he said.
An original investor and co-founder of the Texas Stock Exchange (TXSE), Deason celebrated some of the exchange’s latest successes and funding goals. He also cited a recent Washington Post headline — “New York won’t reign forever – Bring on Y’all Street” — and laughed about the flood of negative online comments from critics outside of Texas. Many of which seem to be critical of the Lone Star State’s seemingly bright future in finance.
“They’re jealous, envy is an ugly thing, but it’s fun when you’re envied,” Deason joked.
When asked by Robinson about the single greatest challenge facing DFW specifically over the next decade, Deason was blunt: “Downtown is just our biggest challenge… It’s important to all of North Texas that downtown Dallas succeeds.” He would later compliment Mayor Eric Johnson’s leadership and ongoing private-sector efforts, specifically aimed at addressing homelessness Downtown.
During the audience Q&A after the chat, a California transplant asked how Texas can preserve its values amid rapid population growth. Deason responded that recent election analysis showed native Texans, not newcomers to the state, actually drove some disappointing voting results for Republicans. He would then speak about success, and how not to become complacent in bettering your local community, even if you have become wealthy.
“Success and wealth sometimes comes complacency or the feeling of guilt that I don’t deserve this and I need to do this. That is not true at all. But don’t just sit back and ride it out, go to work,” Deason said.
Monty Bennett, Chairman and CEO of Ashford Inc., followed by saying: “So many good people just didn’t want to be involved… and 30 years later, you turn around and everything’s gone to hell because a lot of business leaders didn’t want to get involved… Do like Doug did, get involved and stay involved everywhere. Come to these types of lunches, vote, encourage other people to vote, stand up and let your voice be heard.”
Deason closed by stressing the need for “common sense” leadership on Dallas City Council and across Texas. “We just need common sense people. Let the city just do what it’s supposed to do, and then get out of our way.”