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Saturday, April 17, 2021

How Do Silicon Valley Techies Have a good time Getting Wealthy in a Pandemic?

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“You even have to search out issues which are significant as a substitute of simply throwing alcohol at them at a celebration,” he mentioned.

For Palantir, an information analytics firm that went public in September, Feb. 18 was “giraffe cash” day. That was the primary day that present and former staff may money out all of their shares after the corporate went public.

In a Slack channel for former staff referred to as Giraffe Cash — an obvious reference to wealth that may assist informal giraffe possession — many anticipated their windfalls by sharing hyperlinks, principally in jest, to absurdly costly house listings and boats, one former worker mentioned.

However in actuality, techies are spending in very alternative ways.

As an alternative of fantastic artwork, they’re shopping for NFTs, or nonfungible tokens that characterize possession in items of digital artwork, memes or artifacts of web historical past.

As an alternative of round-the-world journey, they’re piling into Sprinter vans, the pandemic trip important. Jackie Conlin, a private model advisor to tech executives, mentioned she had created “van wardrobes” consisting of “cozy garments that look put collectively however are oozing with laid-back trip vibes” for purchasers occurring street journeys.

As an alternative of designer clothes, they’re looking for new outfits that look good on Zoom calls, digital make-up classes for the digicam and makeovers for his or her Zoom backgrounds. Ms. Conlin mentioned she redecorates a shopper’s Zoom room “to make regardless of the different assembly attendees see look extra cohesive, trendy and pleasing to the attention.” Shoppers are additionally shopping for weekly “consolation” items for family and friends like cozy blankets and robes, skincare objects, pajamas, and video games.

And as a substitute of luxurious condos, they’re after homes with out of doors area, house gyms and good “Zoom rooms.” In San Francisco, newly wealthy techies are migrating from trendy “white field” flats within the neighborhood of SoMa to conventional prewar “trophy houses” in additional established areas reminiscent of Nob Hill, Russian Hill, Pacific Heights and Sea Cliff, mentioned Joel Goodrich, an actual property dealer with Coldwell Banker World Luxurious within the metropolis. They’re excited by historic mansions with elaborate moldings and structure.

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