Silicon Valley

August 15, 2013

Average House in Silicon Valley now over $1 Million

While it certainly isn’t news to the people who live in Silicon Valley, the price of housing has sky rocketed there, and my have reached a kind of “tipping point” with news that the average price there is now over a million dollars. For the last four months, the average price of a single-family home in Santa Clara Count yhas been more than $1 million, according to rdata from MLS Listings, a service for real estate agents.

Accordning to a report by NBC news, brokers are saying that tech growth is the main driver of demand in Silicon Valley and that most of it comes from executives at Apple, Google and other established companies. Another big factor, however, is growing demand from China. Realtors say wealthy Chinese buyers are pouring into Silicon Valley and buying up multimillion-dollar properties. They say the buyers are increasingly nervous about the Chinese government and economy and are looking for a safe haven.

Silicon Valley now leads the nation in the number of homes sold for $1 million or more, according to Realtytrac. Sales of $1 million-plus have more than doubled in many communities in Silicon Valley this year, toppling even luxury areas like Beverly Hills or Miami.

Filed under Real Estate and Housing, Silicon Valley by

November 14, 2007

Shasta Ventures closes new $250 million fund

Shasta Ventures closed a $250 million venture capital fund focused on early-stage technology companies, according to a report in the Silicon Valley / San Jose Business Journal. Menlo Park-based Shasta announced that limited partners in Shasta Ventures II LP are primarily returning investors from Shasta’s first fund, including endowments, foundations, pensions and family offices. Shasta Ventures, which began investing its first fund of $210 million in early 2005, has made 22 investments to date in early-stage companies spanning consumer and business Internet services, mobile and wireless, and software and infrastructure.

Filed under Silicon Valley, Venture Capital by

June 6, 2007

Barry Diller’s IAC Interactive starting new VC firm in Silicon Valley

Media mogul Barry Diller’s IAC Interactive is reported to be starting up a new venture capital fund to invest in internet and Silicon Valley technology companies, according to a report in Mercury News.  Jim Safka, chief executive officer of online dating service, an IAC subsidiary, will head the fund, which will be called “Primal Ventures and will be located in Palo Alto, California.

Filed under Media and Entertainment, Silicon Valley, Venture Capital by

May 10, 2007

Chief Minister of Indian State of Andhra Pradesh on trade mission in California

“A popular state leader from India is on a trade mission in California. The idea is to forge new alliances between California’s Silicon Valley and the booming Indian economy. The popular Chief Minister of Andhra Pardesh, India is making a splash in Silicon Valley. Dr. Y.S. Rajasekhara Reddy comes armed with a trade video touting his southern region of India, and desire for new investment. Chief Minister Dr. Y.S. Rajasekhara Reddy, State of Andhra Pradesh: ‘So the synergy’s we have with California, we want to enlarge for that the synergy’s we have with Silicon Valley, we want to enlarge with that.’ India predicts its demand for semiconductors will be a $35 billion dollar market by 2015. Many Silicon Valley companies are already there and expanding, others are moving in… This is a busy day for the Chief Minster. After networking in Silicon Valley, he went to Sacramento to meet with Governor Arnold Schwazenegger and then back to San Jose for an event tonight with Lt. Governor John Garamendi… Chief Minister Dr. Y.S. Rajasekhara Reddy, ‘The Californians they should try to go into more research and more value added things and try to outsource less important things to developing countries like us and have it be a win-win situation for both.’ Dr. Reddy may not be able to sell his ideas to everyone, but he is eager to sell Andhra Pardesh India to California.”

Filed under Foreign Relations, India, Silicon Valley by

May 1, 2007

Silicon Valley Startup to Build World’s Largest Photovoltaic Solar Power Plant in Canada

“A solar power plant in the Great White North? Thin-film solar startup OptiSolar has signed a deal to build a 40-megawatt photovoltaic power station about 180 miles west of Toronto. The project, to be rolled out in 10-megawatt stages, will be – for the moment – the world’s largest PV power plant. Canada isn’t exactly known for its sunny skies but it does offer something solar power companies won’t find south of the border: a premium price for green electricity. The Ontario government will pay OptiSolar 42 (Canadian) cents a kilowatt hour – nearly 10 times the standard rate. In this case, Ontario signed a 20-year contract at that rate with OptiSolar’s Canadian subsidiary.”

Filed under Canada, Energy Industry, Silicon Valley by

March 2, 2007

United Nations in Silicon Valley to discuss global digital divide

“Officials from the United Nations met on Wednesday with Silicon Valley executives to discuss the ‘digital divide’ _ the growing gap between the world’s wealthiest and most computer literate people and the impoverished masses without Internet access. The meeting, organized by Intel Corp. and the U.N.’s Global Alliance for Information and Communications Technology and Development, was billed as the first between U.N. officials and technology executives and venture capitalists. More than 100 executives and officials from more than 30 countries attended the half-day conference. They discussed low-cost ways to get broadband Internet access to Africa, build computer centers throughout the developing world and encourage entrepreneurship. “

Filed under Information Technology, International Development, Silicon Valley by

February 11, 2007

Silicon Valley searches for Microsoft researcher lost at sea

“Silicon Valley continues its search for Microsoft researcher Jim Gray, who hasn’t returned from a Jan. 28 solo trip in his 40-foot sailboat off San Francisco. In the effort to find him, technologists are using the latest tools, some of which Gray himself helped develop: advanced satellite imaging, ocean drift modeling, and large database searching techniques.”

Filed under Information Technology, Silicon Valley by

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