Zynga, Incorporated, one of the two large tech companies (with Twitter) who railroaded Mayor Ed Lee and the SF Board of Supervisors to pass the Twitter Giveaway, will be making its Initial Public Offering in the next two weeks.
Zynga’s IPO price is settling in at about $9 billion and the company hopes to raise as much as $925 million.
If the tax-break given to Twitter extends to Zynga, it nullifies the long-standing SF law that would have given 1.5% of the sale to the City.
We will be losing nearly $14 million. That’s nothing to Zynga. They could negotiate it into the offer.
14 million dollars. <poof> just like that …. because of the political aspirations of Lee and Chiu…
Thanks Mayor Lee, and Supervisors Chiu, Farrell, Kim, Weine, Elsbernd, Cohen and Mar. You’re morons on this one.
That’s our new Mayor and Board President at work in the new SF.
I’ve grown to know and love the unique and special character of our city’s quiet pockets – what’s best defies definition, it’s called our spirit.
I pledge to stand with our neighborhoods and communities to retain their culture; to seek out input from communities into which predominantly private external interests attempt to intervene; to create jobs for people already living here, rather than imaginary future employees or residents.
We have plenty of people here who could use our support to create lives for themselves in neighborhood microeconomies. These would be of obvious service to our many residents and those who are soon to arrive.
3. To resist Manhattanization and HongKongification of San Francisco, in favor of saner development
Why does SF have to grow to a city of a million before we address the transit and infrastructural issues?
Why do we have to urgently build more residences for people who do not live here yet when so many who already do live here are suffering homelessness, job loss and an inability to keep up with the cost of living in San Francisco?
Why do we have to build housing for people who do not yet live here before working on cleaning up the Bay, preserving our heritage, adding better, smarter transportation and sustainable energy resources?
Why do we have to appease the nouveau-riche of our times: twenty- and thirty-something-year-olds from elsewhere who want to live and work in our beautiful city for companies that make money for investors who live elsewhere which – thanks to the board and the Twitter Giveaway – will contribute little to our economy?
In reality, we don’t.