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WSJ Tech News Briefing

Why the Plan for a Tech-Backed City Could Face Scrutiny

WSJ Tech News Briefing

The Wall Street Journal

Tech News, News

4.31.7K Ratings

🗓️ 3 January 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

There’s a group of investors trying to create a new city just north of San Francisco. The project, known as California Forever, is backed by some of the biggest names in tech. It’s spent nearly $1 billion to become the biggest landowner in California’s Solano county. But until recently, very little was known about the project or who was running it. WSJ reporter Kate O’Keeffe joins host Alex Ossola to talk about what we now know about California Forever, and why local and federal officials have been asking questions. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to Tech News Briefing. It's Wednesday, January 3rd. I'm Alex Oscela for the Wall Street Journal.

0:10.0

On today's show, if you scroll through social media over the holidays, you might have seen a

0:14.4

flurry of year-end reflections and engagement announcements.

0:18.1

But in general, have you noticed that your friends are just posting a lot less? Turns out they are and that's a problem for social media

0:25.2

platforms. W.S.J. Personal tech reporter Cordelia James tells us what that means

0:29.8

for your feed. And then a secretive group has been buying up tens of thousands of acres of land near

0:35.9

San Francisco.

0:36.9

They're planning to build a new city using millions of dollars in funding from some of the biggest

0:41.4

names in tech.

0:42.4

W.S.J. reporter Kate O'Keefe tells us funding from some of the biggest names in tech.

0:42.6

W.S.J. reporter Kate O'Keefe tells us more about the people heading up the project

0:47.1

and the local and federal scrutiny they could face. But first, Americans may still be spending time on social media, but that doesn't mean

0:58.9

they're posting. A recent report from Data Intelligence Company Morning Consult found that 61% of U.S. adult respondents

1:06.2

with a social media account said they have become more selective about what they post.

1:10.7

Here to tell us why that is and what it means for social media

1:13.8

companies is personal tech reporter Cordelia James. Cordelia people are

1:18.2

posting less on social media. Why? What is going on? There's a lot that you can find on these apps, of course.

1:25.0

So not only do you find your friends, but also you see ads, you see misinformation.

1:30.0

There's a lot here that has sucked some of the fun out of social media, especially with

1:37.0

recent events in the past few years, you know, we had COVID, most recently the Israel-Hymoss War, people feel a little bit more reluctant to share their

1:46.5

opinions and fear of judgment or retribution, both from people they know and people people they don't know especially if their

1:54.2

profiles are public. So who's posting less and who's staying the same?

...

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