Can Y’all Street outflank Wall Street?

NPR. A few months ago, I found myself in the middle of a construction site in Dallas. It was full of dust and wind and workers in hard hats going up and down in freight elevators. This is the new Dallas office for Goldman Sachs, or it will be in 2028 when it's fully built and has thousands of employees working there. Goldman is spending more than $500,000,000 to build this 14 story campus right in the heart of Dallas. And Goldman is in good company. The New York Investment Bank is one of several financial companies that are all setting up shop or expanding in the Dallas area. This is what Texas is calling Y'all Street. Get it? Like Wall Street, but with a Texas twang? Clever. And since everything's bigger in Texas, some of the people behind Y'all Street are hoping that it can become even more powerful than the OG Wall Street. This financial rivalry is mostly about business growth and economic activity, but it's also a little about politics. I mean, what isn't these days? Tell me about it. This is the indicator from Planet Money. I'm Waelin Wong. And back with me is friend of the show, Maria Aspen. Maria, great to see you again. Thank you. It's so great to be back. You recently spent some time in Texas talking to a bunch of Y'all Street executives and other locals. I did. And that's today on the show. What exactly is happening on Wall Street? And can Texas really steal Wall Street's financial crown? This message comes from NPR sponsor Charles Schwab with its original podcast on investing. Each week, you'll get thoughtful, in-depth analysis of both the stock and the bond markets. Listen today and subscribe at Schwab dot com slash on investing or wherever you get your podcasts. Support for this podcast and the following message come from Vanguard. Every day, shareholders meet to discuss important matters about the companies you invest in. Now you can make your voice heard too. Vanguard investor choice makes it easy to set your proxy voting preference for your eligible Vanguard index funds. Visit vanguard.com/investorchoice to learn more. Vanguard investors own shares of their index funds, and those funds own shares of the companies they invest in. Vanguard Marketing Corporation distributor. One year after congress eliminated federal funding for public media, NPR remains committed to informing the public. But a free press doesn't just happen, it's something we must protect. Without federal funding, we're relying on your support now. Please show your support today at +.npr.org. A few days after I visited Goldman's next Dallas home, I caught up with the man in charge. Asim Khalil is a Goldman Sachs partner and head of its Dallas office. He's also a lifelong New Yorker who moved to Texas for Goldman ten years ago. Now he's all in. This is the most welcoming city you'll find anywhere in the country, if not the world. People are happy to …