Tech Leaders Spend $800M to Build a New City
A group of Silicon Valley tycoons have been quietly buying land near San Francisco’s Bay Area. Their goal is to create a brand new city, complete with residential neighborhoods, a performing arts center, and orchards with over a million trees planted. Key investors include Reid Hoffman (the CEO of LinkedIn), Marc Andreessen, Chris Dixon, and former GitHub CEO Nat Friedman. The development project is being carried out by Flannery Associates, led by Jan Sramek a former finance whiz kid and Goldman Sachs trader. Over the past five years, the firm (created by the investor group) has been purchasing land near San Francisco and Silicon Valley in Solano County.