Tech billionaires still can’t build ‘eternal California’ city

last year, Times A group of Silicon Valley investors (including LinkedIn co-founder Reid Hoffman, Andreessen Horowitz investors Marc Andreessen and Chris Dixon, former GitHub CEO Nat Friedman, and Emerson Collective founder Laurene Powell Jobs) have reportedly secretly purchased hundreds of millions of dollars worth of farmland in Solano County to build their own city.

Former Goldman Sachs trader Jan Sramek is spearheading the project, which applied for permission to develop the land just months after the plans were revealed. According to a study commissioned by Solano CountyThe process typically takes years, and he estimated that the full project would require tens of billions of dollars in infrastructure investment, but warned that details of the development are so vague that it is difficult to assess its full impact, the paper reported. Times.

“Preparing an initial environmental impact statement does not affect the overall timeline, it just changes the procedure,” Sramek said in his own statement, adding that he plans to reapply in 2026. But a local lawmaker quoted by The New York Times said the “California Forever dream has been put on permanent ice.”