Tag Archives: giveaway

Twitter Giveaway’s First Big Blow: POOF! Goes the Zynga IPO

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.

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Twitter Giveaways and Treasure Island Boondoggles?

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The Birds in SF Share Better Than the Board of Supervisors

Last year, I documented birds near the Mid-Market Exception Zone that know how to share.

and now I see it as a metaphor for what the Board of Supervisors and Interim Mayor Ed Lee failed to understand about the laws they are changing, beginning with The Twitter Giveaway of 2011.

We have been talking about being afraid of the Manhattanization of San Francisco for some time now – at least since back in the 90’s – and yet we have been unable to resist this rampant development of condominiums and new structures that no one here can afford.

I see now that all these empty dwellings have been built for new employees of all the new Twitter-like businesses that will be arriving because the Board and Mayor Lee have struck down one of the pillars of our very strict tax code – brand new san franciscans most, since they rarely hire local folk.

New, young stylish grads from Yale and Harvard, MIT and Stanford, at least some of whom will be of the type we have seen already – the ones who avoid-eye-contact and civic responsibility, enrich themselves, vote for development and sit/lie laws and aid the driving out of what they deem unsightly: the unwanted poor, the homeless, the ten- and fifteen- and twenty-year San Franciscans who have just managed to survive as the cost of living has skyrocketed. At least some of them will be the Manhattanizers.

But with the upcoming vote over Treasure Island Development I’ve realized a new fear:

The HongKongification of San Francisco.

Do these pro-business, high energy politicians think we should be growing like the last decade that has created these dense cities of Asia? Do they see unlimited space for growth? Do they not know about our long history of containing that growth for aesthetic reasons and civic responsibility?

San Francisco should stay a sweet, small City with its own identity: one of tolerance, compassion, care for our smallest citizens and local businesses. We can develop our new 21st Century SF, but we don’t have to do it like the Asians have or New York did. We should do it our way: slow and steady.

Vote Karthik Rajan for Mayor, an Independent outsider who will stand up to corrupt lifelong politicians and the dozens of interests that support them.

I will demand for all of us that we scale down the SF economy for four years. I will then use half of that time to audit and evaluate our Departments and the current unchecked growth; will identify and reduce waste and re-organize, restructure and reboot the City for a better future for our children.

I will not seek re-election and I will return $400,000 back to the City’s Board and next Mayor upon departure from office, as stated in my first Campaign promise, so, if you vote for me for Mayor, when my term is done, I will give $400,000 plus interest back to the City.

Vote Karthik Rajan and we will pay less for a better quality of life.

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The Twitter Deal Represents Failure of Creativity by David Chiu

We should be making these people help us bridge deficits and maintain our sweet, lovely city.

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The Twitter Deal – Mayor Lee and Supervisor Chiu Cave In

Moving right along, I now have a twitter account:

@karthikrajansf

and am following San Francisco Mayor Edwin Lee and Board of Supervisors Chair David Chiu, who are tweeting away with great vigor about how we all need to sign their petition and support their plan to Keep Twitter in San Francisco!

The irony isn’t lost on me. I rented an apartment in the Mission District for $400 a month just 15 years ago and now a great big black bus from Google delivers employees to and from my old neighborhood so they can pay $1200 a month to live there.

The SFBG is right on this one and kudos to Steven T. Jones and Tim Redmond for their great work these past few weeks exposing what is basically a terrible break from precedent, guaranteed to gentrify neighborhoods and raise rents for everyone living in them.

The Twitter deal exemplifies the changes in San Francisco government, policy and culture that I am protesting in my appeal for your vote for Mayor.

We want good companies to come to San Francisco and stay here, but we want them to invest in our city – not take from it.

At stake is a small percentage of the stock options of Twitter employees – which are bound to be worth tens of millions to our city when the company goes IPO – and my chief opponent and the Mayor are just giving away those funds. More importantly they are trashing a hard fought right to demand that corporations that come to our city commit to investing in the welfare of all our citizens and not just their employees.

It’s a sad day in San Francisco. The Twitter deal is a nightmare that sets a precedent we don’t want and makes us vulnerable to dozens of other companies making similar demands.

Mayor Lee and Chairman Chiu are dead wrong and if it upsets you as much as it does  me, Chris Daly and the SFBG, then please cast your vote in November for me, Karthik Rajan, for Mayor of San Francisco.

It is time to set right the course of our city back to the values we all cherish: compassion for the homeless, the poor, renters and immigrant communities – and away from corporate protectionism.

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