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SV is becoming a real estate business instead of tech. When you have 50% or more of salaries spent on rent or mortgage then so much of the revenue generated is
by salimmadjd 11y ago
SV is becoming a real estate business instead of tech. When you have 50% or more of salaries spent on rent or mortgage then so much of the revenue generated is just lost into real estate instead of innovation growth, investment and R&D.
I don't understand why FB, Apple, Google, etc. do not lobby hard the local cities and push to build 100,000 new units. It'll bring the rent or house prices down and it will allow many new startups to afford local hires or bring developers over here.
- joe_the_user 11y agoFacebook has attempted to build more housing and sometimes succeeded. Even a billion dollar company apparently has less influence than many people owning million dollar homes and living and voting in the city. It will eventually be up to groups like BARF to sue cities that let business build while refusing to provide housing for the employees of said businesses. http://www.mercurynews.com/business/ci_27717752/facebook-floats-idea-more-housing-menlo-park http://www.mercurynews.com/business/ci_27717752/facebook-flo...
- rconti 11y agoAnton Menlo will be opening shortly just 2 miles from FBHQ.
- mrep 11y agoThey've tried before and it hardly ever works. I remember reading an article a few years ago about google trying to build 1000+ housing units in mountain view and the town shut them down as they didn't want the town to become controlled by Googlers. Edit: @joe_the_user posted a link about facebook trying to
- Tempest1981 11y agoMountain View has over 70 developments planned -- check this out: http://www.mountainview.gov/civicax/filebank/blobdload.aspx?BlobID=18651 http://www.mountainview.gov/civicax/filebank/blobdload.aspx?... (39 page PDF, but has some pictures.)
- mtviewdave 11y agoThere are currently plans to build over 10,000 units in North Bayshore (the area around Google's campus): http://www.mv-voice.com/news/2016/03/03/council-oks-plans-for-dense-housing-in-north-bayshore http://www.mv-voice.com/news/2016/03/03/council-oks-plans-fo...
- tamana 11y agoThe billionaires who run the company have many huge beautiful homes. Their employees beg them to open offices in resident friendly cities, and the managers ignore them.
- BurningFrog 11y agoThey do lobby as hard as they can. The result shows that you actually can not buy legislation that easy.
- Tempest1981 11y agoWell, and cities need to balance housing/job growth with other things, like schools and traffic growth. I.e. higher level strategic planning.