Tanza Loudenback, provided by Published 3:39 pm CDT, Wednesday, April 17, 2019 Christian Vierig/Getty Contributor Financial experts toldMercury News that some families need up to a $10 million net worth to be financially comfortable living in Silicon Valley. Bay Area residents themselves say it takes a $4.2 million net worth to be wealthy, according to a 2017 Charles Schwab survey. Visit BusinessInsider.com for more stories. In a place as expensive to live as Silicon Valley, it's harder than ever to tell who's truly wealthy. Bay Area residents themselves say it takes a $4.2 million net worth, on average, to feel wealthy and $1.1 million to be "financially comfortable," according to a 2017 Charles Schwab survey. Some financial experts peg those figures even higher. Mercury News that a family may need an annual income of up to $1 million — so, a much larger net worth — if their financial priorities include sending their kids to a top school, living in a … [Read more...] about An investment advisor says $10 million can buy a comfortable life in Silicon Valley, but nothing ‘lavish’
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By George Avalos | [email protected] | Bay Area News Group PUBLISHED: March 27, 2019 at 9:35 am | UPDATED: March 27, 2019 at 10:04 am SAN JOSE — The Avenues, a for-profit private school with students from upper-crust families, is planning a Silicon Valley campus with its purchase of a big office building in San Jose for a new learning center New York City-based Avenues The World School, acting through an affiliate, paid $27.1 million cash for the 77,000-square-foot office building near the corner of Meridian and Parkmoor avenues, according records filed with Santa Clara County. The private school intends to open Avenues Silicon Valley, which would educate children aged two through 18. “We are excited about the recent progress toward making Avenues Silicon Valley a reality,” said Tara Powers, a spokeswoman for Avenues The World School. The school’s first campus opened in 2012 in Manhattan’s Chelsea neighborhood. The Avenues website also lists … [Read more...] about Top-tier New York private school opening San Jose campus — will $56K East Coast tuition fly in Silicon Valley?
By Alexandra Wexler WSJ Sun., March 17, 2019 SAN FRANCISCO—Naspers Ltd., Africa’s biggest company best known for its bet on Chinese internet giant Tencent Holdings Ltd., is building a foothold in Silicon Valley. But unlike many other tech investors, Naspers isn’t solely focused on finding its next big hit here. Rather, the South Africa-based media and internet giant, which opened a San Francisco venture-capital office in 2016, wants to be closer to the flow of innovation and ideas in the Valley and apply that knowledge to its decisions across the globe as it repositions itself as an e-commerce company. Led by eBay Inc. veteran Larry Illg and eager to invest part of an almost $10 billion windfall from selling down a small piece of its Tencent stake last year, Naspers Ventures is concentrating on businesses focused on emerging markets that fulfill mainstream global consumer needs such as providing food, education and health care, as illustrated … [Read more...] about For Africa’s Largest Company, Silicon Valley Is Starting Point
Erin Brodwin, provided by Published 7:57 am CST, Friday, March 8, 2019 Memphis Meats/Facebok Silicon Valley startups are experimenting with the gene-editing technology Crispr to make lab-grown chicken, pork, and beef. Lab-grown meat, also called cultured or clean meat, is real meat brewed up using animal cells. So far, only prototypes exist. The idea is to move away from environmentally-damaging meat production methods in favor of a method that could be more sustainable and less ethically fraught. Venture capitalists see huge promise in the industry's potential to disrupt the $200 billion global meat industry. Two emerging technologies with blockbuster biotech potential are the gene-editing tool Crispr and lab-grown or cultured meat. Crispr has been likened to a pair of genetic scissors: it allows researchers to simply and precisely tweak the DNA of any organism, opening up the potential to cure tricky genetic diseases like sickle cell or even make … [Read more...] about Silicon Valley startups are experimenting with gene-editing tool Crispr to help grow chicken, beef, and pork in labs — and to upend a $200 billion industry
It’s a bright September morning in San Carlos, California, and Masayoshi Son, chairman of SoftBank, is throwing me off schedule. I’d come, as he had, to meet with the people he’s tapped to run the Vision Fund, his $100 billion bet on the future of, well, everything. After almost four decades of building SoftBank into a telecom conglomerate, Son, an inveterate dealmaker, launched this unprecedented venture two years ago to back startups that he believes are driving a new wave of digital upheaval. He has staked everything on its success–his company, his reputation, his fortune. We’d both arrived with the same basic question: Where is this massive vehicle heading? But because I wasn’t the one footing the 12-figure allowance, I understood that I’d be the one to wait. In the hubbub of Son’s visit, my 9 a.m. meeting gets rescheduled multiple times until it’s set for 4:30 p.m. When I finally arrive at the Vision Fund’s offices, … [Read more...] about The most powerful person in Silicon Valley