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Some of the biggest and richest names in the tech and finance worlds are reported to be investors in a secrecy-cloaked company that has been buying up large tracts of the San Francisco Bay Area, apparently in a quest to create an entirely new city.
Quoting three unnamed sources, The New York Times reported that backers of the firm called Flannery Associates include venture capitalists Michael Mortiz, Marc Andreessen and Chris Dixon, LinkedIn co-founder Reid Hoffman, Stripe co-founders Patrick and John Collison, former GitHub CEO Nat Friedman, Cue co-founder Daniel Gross, and Laurene Powell Jobs, founder of the Emerson Collective and widow of Apple co-founder Steve Jobs.
The initiative—which has scooped up $800 million worth of land near Travis Air Force Base since 2018—was spearheaded by former Goldman Sachs trader Jan Sramek, 36, the Times reports.