[HN Gopher] Nine households control 15% of wealth in Silicon Val...
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       Nine households control 15% of wealth in Silicon Valley as
       inequality widens
        
       Author : c420
       Score  : 19 points
       Date   : 2025-07-21 22:05 UTC (55 minutes ago)
        
 (HTM) web link (www.theguardian.com)
 (TXT) w3m dump (www.theguardian.com)
        
       | yieldcrv wrote:
       | > Yet, no cities in Silicon Valley have raised the minimum wage
       | in the past three years.
       | 
       | what?
       | 
       | how is moving minimum wage a dollar going to help someone tackle
       | the $136,500 necessary to rent responsibly?
       | 
       | just seems like an odd thing to add. they're still going to be
       | commuting an hour like everyone else
        
         | smallerize wrote:
         | Didn't they just increase minimum wage this year?
         | https://sanjosespotlight.com/silicon-valley-san-jose-califor...
        
       | atonse wrote:
       | Is this just a result of a strong market since most of their
       | "wealth" is in stocks, driving up the perceived gap and resulting
       | in such shocking sounding stats?
       | 
       | I am not defending inequality but how is stock-based wealth
       | taking away from lower income workers? Is it a taxation issue?
       | 
       | Does the number of billionaires impact the overall cost of living
       | of a whole metro area? If so, how?
       | 
       | I don't quite understand the comparison. Genuinely asking.
        
         | yieldcrv wrote:
         | Here is the source and I'm still not sure
         | 
         | https://www.sjsu.edu/hri/docs/SVPI%202025%20Annual%20Report%...
        
           | gruez wrote:
           | Yikes. I get they're trying to push an anti-inequality
           | agenda, but some of the statistics are only tenuously related
           | to inequality. For instance:
           | 
           | >0 Number of student wellness centers in the San Jose Unified
           | School District that opened in 2024, despite the growing
           | mental health crisis in youth
           | 
           | >0 Number of Narcan kits stocked at San Jose Unified School
           | District schools, making SJUSD the only major Bay Area school
           | district that does not stock Narcan or train staff to
           | administer Narcan in case of a fentanyl overdose.
           | 
           | What's the implication supposed to be? That if it weren't for
           | AI tech bros, there would be student wellness centers and
           | narcan kits?
        
       | j_crick wrote:
       | Piketty was right? Who would've thought...
        
       | IncreasePosts wrote:
       | Do billionaires affect the area they live in much? I imagine
       | they'd mostly just have a compound in an already rich area, and
       | not interact with the general area much. And then be travelling
       | to other houses of theirs or for business frequently?
        
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       (page generated 2025-07-21 23:01 UTC)