Opinion: Silicon Valley investors want ‘corporate cities,’ but they should learn from history

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Opinion: Silicon Valley investors want ‘corporate cities,’ but they should learn from history
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Silicon Valley investors have been buying farmland north of San Francisco for building a ‘utopian’ city

Silicon Valley

The latest effort comes from Flannery Associates, which is led by former Goldman Sachs trader Jan Stramek and includes Reid Hoffman, co-founder of LinkedIn, as well as Laurene Powel Jobs, Steve Jobs’s widow. The New York Times revealed last week that the group has spent about US$800-million to buy 22,000 hectares in rural Solano County – about the area of Halifax, Victoria or London, Ont.

Perhaps the most spectacular Roman candle has been Belmont, Ariz. – Mr. Gates’s planned smart city outside Phoenix. In 2017, he invested about US$80-million for land for a monument to tech dominance, with all the networking bells and whistles and autonomous cars. Mr. Thiel, the venture capitalist behind PayPal, unveiled plans in 2008 for a seastead – a politically independent floating island city – in French Polynesia. Talks with the government stalled in 2018, and the project foundered.

But the developer, William Levitt, refused to sell to non-white buyers. A Black family who bought a resale property in a Pennsylvania Levittown in 1957 were scorned and attacked. The issue attracted Dr. Martin Luther King, who fought to change home ownership legislation.

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