Homepage / Technology / Silicon Valley exec wants to fix California’s housing crisis by scrapping $64 billion bullet train
How to discover the best bbw hookup app for you 5 Best BBW Lesbian Dating Apps/Sites In 2022 Online Gambling Review submissions dia govt.nz Разыгрываемые джекпоты в виртуальном клубе Вулкан казино 30 Of The Greatest Adult Sex Toys For Males | Men’s Room Health Mag Australian Continent Cazino 7 slots cyberspace: conditions and rules for betting with real cash 1Win: ¡el mejor lugar de casino y apuestas deportivas de Argentina! ????Mature Dating Evaluation 2023 – Whatever You Need To Know About It! ???? Take the first step towards fulfilling your ebony lesbian bbw match now Ideas on how to come-out: Tips to keep in mind > Taimi Meet your perfect match – granny hookup site Türkiye-Çin İşbirliği Derinleşiyor GuGi Mobil Yükleme Seçenekleri Hizmet İçi Eğitim Sona Erdi Dooball tv ดูบอล ออนไลน์ สด 66 ลิงค์ บนมือถือ ฟรี ภาพชัด HD ทั่วโลก Find your rich cougar date in the most useful dating site Find your dream fat girl hookup today Slot Thailand Daftar Link Situs Slot Gacor Maxwin x500 Terbaru Hari Ini Resmi Auto Jackpot! Konsultasi ke Dewan Pers, Komisi I DPRD Jambi Pertanyakan Indeks Kemerdekaan Pers Jambi yang Turun Akses News Cerita Korban Judol di Balikpapan yang Nekat Gelapkan Uang How to get local horney women in your area 3 Cara Hapus Akun Judi Online Slot : Okezone Economy SITUS TOTO > Sering Kalah Main Di Situs Slot Gacor Terbaru Mudah Maxwin Situs Slot Gacor Maxwin Main Tanpa Pola Modal 5ribu Terbaik Melhores cassinos online de Novembro 2024: Confira o top 10! Enjoy amazing gay sex experiences using the top sites on the web Make the absolute most of one’s big butt dating adventure here 9 circumstances this means when a person avoids eye contact with a lady – Hack Spirit Top Greatest M4M Personals Sites in 2022 ◉ BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING Лотерейные розыгрыши в kasino on-line Лев казино: условия осуществления и доступа Main features of playing in machines at online-club Karavan Connect with like-minded females making new friends Comment accéder à des jeux gratuits avec Space fortuna bonus ? PUCUK4D⭐ Bandar Toto Togel Online & Situs Toto 4d Terpercaya #1 Betting site Karavan bet Gates of Olympus internet-based: benefits of playing for real money Discover an environment of opportunities with lesbian and bisexual dating Aprovecha Los Códigos Promocionales De Bbrbet ¡más Bonos, Más Juegos 1xbet Giriş Yeni Adresi 2024 ⭐️ 1xbahis Güncel Adres » 1x Guess Mobil Casino How to get started with sext room BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING La Application De Bbrbet: Juegos Y Apuestas Approach Alcance De Tu Man Start your love story now – join our talk to gay strangers source today BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING Find regional bbw hookups inside area BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING BLACK SEO LINKS, BACKLINKS, SOFTWARE FOR MASS BACKLINKING Lotion of Coconut: A Versatile Component for Delicious Desserts and Cocktails The Very Best Online Gambling Establishments: An Overview to the Top Ranked Online Casino Sites Dealing With Swollen Lymph Nodes in the Groin: A Comprehensive Guide Online Casinos that Approve Mastercard: The Ultimate Overview Rhinocerous Tablets: What Are They Used For? Online Blackjack Real Cash PayPal: The Ultimate Overview One Of The Most Popular Online Slots: An Overview to Exciting Gambling Enterprise Games Exactly How to Eliminate Crawler Veins Normally Comprehending Cholesterol: What is a Great Cholesterol Degree? Free Offline Casino Site Slot Machines: Appreciate Gambling Enterprise Games Whenever, Anywhere новой Игровые Автоматы и Слоты Играть нежелающим И Без Регистрации В Новинки 202 test “aviator Cassinos Para Arriesgar No Jogo On The Internet Aviãozinho No Brasi Página 2 Time-tested legitimate one-armed bandits in internet club başari bet casino Mr Jack Bet Brasil Como Funciona? Análise Completa Do Sit Experience the Enjoyment of Free Online Roulette Gamings Online Casinos That Accept Paypal Deposits The Ultimate Guide to Psychic Analyses Unveiling the World of Online Psychic Readings Numerology Record: Opening the Secrets of Your Destiny The World of Virtual Tarot Cards Discover the Power of Free Tarot Analysis Lotus The Ultimate Overview to Free Tarot Readings Mastering Free Blackjack Method: Your Ultimate Overview The Art of Card Reading Tarot Card Numerology Estimation: A Comprehensive Guide Numerology Generator: Opening the Keys of Numbers The Power of Numerology Calculator: Unlocking the Tricks of Numbers The Ultimate Guide to Gambling Sites: Everything You Required to Know Numerology Evaluation: Opening the Keys of Numbers The Power of Free Tarot Card Card Analysis Discover the Exhilaration of Ports of Las Vega Split Second Play Discover the Best Mobile Gambling Establishments for Video Gaming on the Go Unlock the Mysteries of Tarot Reading free of charge Opening the Secret of Free Tarot Card Pull The Power of Free Tarot Card Analysis Online The Ultimate Overview to Free Tarot Card Online Préstamos Urgentes Hoy: Todo lo que Necesitas Saber Creditos Rápidos Online: Todo lo que Necesitas Saber Understanding Online Psychics: A Comprehensive Overview Numerology Call Calculator Free Discover the Power of Indian Numerology Calculator Numerology Evaluation: Comprehending the Power of Numbers Every little thing You Need to Understand About Quick Loans Online

Technology

Silicon Valley exec wants to fix California’s housing crisis by scrapping $64 billion bullet train

For nearly five years, Sam Altman, a self-made multimillionaire and president of top Silicon Valley start-up incubator Y Combinator, had to live with his three siblings as roommates thanks to San Francisco’s astronomical housing prices.

“All of my siblings were living in my house in San Francisco because they couldn’t afford rent otherwise,” Altman tells CNBC Make It.

The tech boom has pushed real estate costs in Silicon Valley through the roof. The median home value in San Francisco is $1,204,700 and the median rent is $4,350, according to real estate data company Zillow. In the larger Bay Area, it’s $3,500. The surge is making it hard for even the most well-paid professionals to cover their expenses. Others, unable to afford the astronomical real estate prices, resort to living with untenable commutes.

But housing prices are a problem across California. The median home value in the United States is $200,400, according to Zillow. The median home value in California is $503,100. The corresponding median rent prices are $1,600 and $2,675, also according to Zillow.

Altman says he has an idea to fix this issue plaguing his state.

One option he has publicly proposed is shutting down the construction of the $64 billion bullet train, which is expected to run from San Francisco to Los Angeles by 2029 (two extensions, one to San Diego and one to Sacramento do not have projected completion dates). Instead of building a super-fast regional train, Altman suggests redirecting those resources to build up more robust local train systems, enabling people to commute more efficiently.

“If we make it easier to quickly travel longer distances in/out of work hubs, the intense demand for housing can be diffused to communities that can handle it,” says Altman, in a blog post published in August, on what he terms the “big housing problem in California.” He gives Stockton, Calif. as an example of such a suburb — according to Google Maps, it’s about 80 miles and, with traffic, over a two-hour drive from San Francisco.

According to Altman, California traffic is some of the worst in the country, and local public transit systems “are not very good.” Los Angeles and San Francisco cinch the first and second top spots respectively on a ranking of the worst traffic congestion in the United States compiled by navigation company TomTom.

“When we went around the state and talked to people about what they really need, just regular middle class people, what they really would like is better local transit systems,” Altman tells CNBC Make It of the state-wide focus groups Y Combinator conducted in March through June of this year. “So they’d like the ability to live an hour outside of San Francisco in a much cheaper area but be able to get into the city to work. So there’s a lot of enthusiasm for a much better Bay Area transit system.”

Altman also argues the bullet train will be outdated before it is even built. “By the time it’s completed, we will have new and much better technology, like high-speed self-driving cars, electric airplanes, and maybe even Hyperloops,” he writes. The Hyperloop is a transport system that Elon Musk’s SpaceX is working to develop, where pods would whisk people through tubes at speeds over 700 miles per hour.

Altman knows there is not a pot of $64 billion sitting ready to be redirected from the bullet train. Although the first phase, running from Silicon Valley to Central California, is expected to begin passenger service in 2025, according to the 2016 business plan, much of the future construction is still unfunded. The California High-Speed Rail Authority, the state agency in charge, says it will seek additional money when the first phase is finished.

According to the Authority, some of the money will be used to improve smaller, local train systems so that they can connect to the high-speed rail system, but it will not be used for more widespread local transit system improvements.

Altman says the system is not yet fully funded because many investors aren’t on board with the project. “There are people that would be willing to invest in a transit system they felt more confident about,” like his local idea, he tells CNBC Make It.

Altman is asking for digital signatures on his petition to redirect bullet train funding of those who support the idea as a way to measure its popularity.

Easing California’s housing problem is only one of Altman’s 10-point agenda for the state. The ambitious plan also includes creating a “fair government,” improving education and access to health care and shifting defense spending to research and development for innovation research. He is looking to identify candidates for Governor, Lieutenant Governor and US Congress who he can support.

“The goal of all these proposals is not to say like, ‘Here’s the thing we should definitely do,’ but to start conversations,” he says.

Altman himself is not struggling to pay for housing. In 2005, he launched Y Combinator backed Loopt, a service that allowed people to share their location with other people on their smartphones. In 2012, Green Dot bought Loopt for $43.4 million. Since 2014, Altman has been the President of Y Combinator, which has funded top-tier tech companies including Airbnb, reddit and Dropbox. Collectively, the companies Y Combinator has funded are worth $80 billion.

But the tech executive professes a genuine interest in improving life for residents of the Golden State. “I like to be a responsible citizen. California is my home. I think [expensive housing is] one of our great threats as a state, as a prosperous state. I think it’s in the way of people having the lives they want. To my friends, my neighbors, my family…I care about that.”

See also:

This former minister expects to make $22 million next year selling marijuana

Fired engineer on being a conservative at Google: ‘Really, it’s like being gay in the 1950s’

Mark Zuckerberg shared epic total eclipse photos taken from atop Facebook’s Oregon data center

Like this story? Like CNBC Make It on Facebook.

Source: Tech CNBC
Silicon Valley exec wants to fix California’s housing crisis by scrapping billion bullet train

Comments are closed.