2 ms·
Our great tech innovators are now buying real estate, the most regressive, old, non-tech investment. (It's not the first time either.) SV is thoroughly corrupte
by wolverine876 3y ago
Our great tech innovators are now buying real estate, the most regressive, old, non-tech investment. (It's not the first time either.) SV is thoroughly corrupted and needs disruption by some new innovators who actually have some value and ideas.
- rhelz 3y agoAt this point, even starting a new hi-tech company of any size in the Bay Area immediately runs into the problem of housing. You wanna hire 20,000 workers? Where will they live? Buying 50,000 acres of land and covering it with manhattan-style skyscrapers full of condos and apartments solves that problem quite nicely. Its even self-funding, because no matter how high a salary you pay them, they'll pay over half of it back to you. While you are making a huge profit from the sale. Its a brilliant plan, even for high-tech investors.
- wolverine876 3y agoHousing in the Bay Area has been a problem for decades, and the tech industry did well.