The Twitter millionaires: Is there hope for the average Joe in Silicon Valley?
Publication: Venture Beat
Once again, Silicon Valley breeds a new batch of millionaires: #TwitterIPO.
Given this new surge of wealth in the Bay Area, you might ask: How does the average Joe survive in the uber expensive San Francisco Bay Area? After all, parking lots the length of 101 are filled with Teslas, M3s, Porsches and Mercedes. Palo Alto real estate has become synonymous with McMansions. And now Mark Zuckerberg and Marissa Mayer have taken conspicuous consumption to all new levels by buying up property around their homes.
My take? Wealth in itself is not a bad thing. Wealth causing a talent drain as people leave the Bay Area because they can’t get ahead is a problem.
And it’s only getting worse.
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