Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Thursday, August 29, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

Opponents of secret California tech city heckle its billionaire backers at meeting with shouts of ‘shill’ and ‘smooth talker’

November 30, 2023
in Business
Reading Time: 3 mins read
A A
Opponents of secret California tech city heckle its billionaire backers at meeting with shouts of ‘shill’ and ‘smooth talker’
0
SHARES
ShareShareShareShareShare

Opponents of secret California tech city heckle its billionaire backers at meeting with shouts of ‘shill’ and ‘smooth talker’

A group of Silicon Valley billionaires led by former Goldman Sachs Group trader Jan Sramek have quietly bought up over $800 million worth of Northern California farmland to create a new city from scratch. But their vision of a sustainable utopia is drawing persistent opposition from locals who are fighting to preserve a rural way of life.

READ ALSO

Nvidia blows past expectations with record Q2 earnings but shares fall

Temu founder Colin Huang is no longer China’s richest man

At the first of several town halls meant to win over the community, Sramek laid out his vision of turning the land into a dense, walkable city that would create high-paying jobs and boost economic growth. But many residents at an event late Wednesday were outraged by his proposal, shouting him down as a “shill” and “smooth talker” and leveling allegations that his company, Flannery Associates LLC, engineered a secretive land grab.

The contentious meeting signaled the challenges ahead for Sramek, 36, as he navigates the politics of rural Solano County, an hour north of San Francisco. As part of an ambitious project known as California Forever, he’s led the acquisition of 53,000 acres used mostly for cattle grazing and farming. Backers include Silicon Valley luminaries such as former Sequoia Capital Chairman Mike Moritz, LinkedIn co-founder Reid Hoffman and venture capitalist Marc Andreessen. 

“This might look like a crazy idea to some of the people in the room,” Sramek said at the town hall in Vallejo. “But so did most of the companies that they invested in.” 

Sramek made his pitch at the Vallejo Naval & Historic Museum, as residents sipped complimentary apple cider and eggnog. The California Forever project has announced five additional meetings for December in other locations. Sramek plans to seek voter approval for his city concept through a ballot measure in November 2024. 

Standing in front of a slide deck at the Vallejo meeting, he touted his “blue-collar” upbringing in the Czech Republic, a successful Wall Street career and the backing of big-name investors. He also dangled the potential for affordable housing in a state where pricey real estate and the high cost of living have prompted many residents to flee to states such as Nevada, Arizona and Texas.

“Everyone is shocked that schools are expensive and people’s kids are leaving the state and nobody can afford to live here,” Sramek said. “It’s really simple. There’s just not enough homes in California, and we’ve really screwed it up over the last 40 years.”

His effort already faces an uphill battle. A coalition of farmers, mayors, and environmentalists have all criticized the project for potential impacts to sensitive habitats and agricultural businesses, along with concerns about the security of nearby Travis Air Force Base. The Sierra Club, a leading environmentalist group, dubbed California Forever a “hostile takeover” this week. 

“They’re not trying to listen to the community. This is a sales pitch,” said Aiden Mayhood, a 22-year-old resident of nearby Rio Vista, before the town hall in Vallejo. 

Further roiling the waters, Flannery is suing a group of Solano landowners for allegedly colluding to inflate their property values. The Sramek-led company is seeking at least $510 million in damages. The landowners deny wrongdoing. 

‘Nothing Nefarious’

Sramek accused his critics of opposing new housing developments in the region regardless of who is behind the project. 

“The people who don’t like this project for ideological reasons have tried to weaponize the fact that this was bought in secret,” he said. “There is nothing nefarious about it.”

During the town hall, residents repeatedly interrupted Sramek and shouted out their lack of faith in Wall Street trader-turned-novice developer. One of the most contentious moments came when Marge Grow-Eppard, a member of the Miwok tribe, said Sramek had disregarded the region’s indigenous population and would “cement over” Native American burial grounds. 

“What about the Native American graves that you’re going to be excavating and building on without even consulting us, the natives of this land?” she said. “This is very disrespectful for us, and I’m sick of developers coming in and we don’t know nothing.”

Sramek said he was a relative newcomer to the US, with only a decade in the country. 

“I could not have done anything to your people,” he said. 

Subscribe to the Eye on AI newsletter to stay abreast of how AI is shaping the future of business. Sign up for free.

Credit: Source link

ShareTweetSendSharePin
Previous Post

IBM, Boehringer partner on genAI, foundation models for therapeutic antibody research

Next Post

Kelly Oubre Jr. nearing 76ers return one month after alleged hit-and-run

Related Posts

Nvidia blows past expectations with record Q2 earnings but shares fall
Business

Nvidia blows past expectations with record Q2 earnings but shares fall

August 29, 2024
Temu founder Colin Huang is no longer China’s richest man
Business

Temu founder Colin Huang is no longer China’s richest man

August 28, 2024
Big Tech wants to keep stealing patents—so it’s going to war with Big Pharma
Business

Big Tech wants to keep stealing patents—so it’s going to war with Big Pharma

August 28, 2024
Lego has a historic half-year launching 300 new sets, opening 41 stores
Business

Lego has a historic half-year launching 300 new sets, opening 41 stores

August 28, 2024
What does Pavel Durov’s arrest mean for his tech legacy?
Business

What does Pavel Durov’s arrest mean for his tech legacy?

August 28, 2024
Lowe’s followed Tractor Supply, Harley Davidson and John Deere in backing off DEI initiatives
Business

Lowe’s followed Tractor Supply, Harley Davidson and John Deere in backing off DEI initiatives

August 28, 2024
Next Post
Kelly Oubre Jr. nearing 76ers return one month after alleged hit-and-run

Kelly Oubre Jr. nearing 76ers return one month after alleged hit-and-run

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

Satisfying Snack Cravings: Consumers Prioritize Price, Taste, and Health

Satisfying Snack Cravings: Consumers Prioritize Price, Taste, and Health

August 14, 2024
Apple’s latest iOS 18 beta walks back some changes to the redesigned Photos app

Apple’s latest iOS 18 beta walks back some changes to the redesigned Photos app

August 5, 2024
Extreme heat and humidity are causing 47,000 deaths across Europe—here’s what it does to the human body

Extreme heat and humidity are causing 47,000 deaths across Europe—here’s what it does to the human body

August 18, 2024
Beijing and Hollywood are decoupling as Chinese audiences favor domestic productions

Beijing and Hollywood are decoupling as Chinese audiences favor domestic productions

August 19, 2024
NY Liberty mascot Ellie has two stylists, big brands dressing her

NY Liberty mascot Ellie has two stylists, big brands dressing her

August 27, 2024
Here are all the AI features coming to the Pixel 9 phones

Here are all the AI features coming to the Pixel 9 phones

August 13, 2024
SpaceX repeatedly polluted waters in Texas, TCEQ, EPA found

SpaceX repeatedly polluted waters in Texas, TCEQ, EPA found

August 12, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Yankees’ Anthony Rizzo could take over first base for DJ LeMahieu imminently
  • Joe Biden and Xi Jinping to speak after rare U.S. security adviser trip to China
  • Yankees’ Carlos Rodon allows run after apparent PitchCom issue
  • Affirm (AFRM) earnings report Q4 2024

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In