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How Do Silicon Valley Technicians Have fun Riches in a Pandemic?

For Palantir, a knowledge analytics firm that went public in September, February 18 was the “giraffe cash” day. It was the primary day that present and former workers may money in all their shares after the corporate went public.

In a Slack channel for senior workers known as Giraffe Cash – an obvious reference to the wealth that may maintain informal giraffe possession – many have anticipated their falls by sharing hyperlinks, principally jokingly, to advertisements of absurdly costly houses and boats, he stated a former worker.

However in actuality, the strategies are spent in very other ways.

As an alternative of effective artwork, they purchase NFT, or non-fungible tokens that characterize property in items of digital artwork, memes, or web historical past artifacts.

As an alternative of touring around the globe, they’re piling on Sprinter vans, important pandemic holidays. Jackie Conlin, private fashion advisor for know-how executives, stated she had created “van wardrobes” consisting of “snug garments that appear to suit collectively however that drag with relaxed vacation vibes” for purchasers who journey by highway. .

As an alternative of designer garments, they’re in search of new outfits that look good on Zoom calls, digital trick classes for the digicam, and modifications to their Zoom backgrounds. Ms. Conlin stated she redecorated a consumer’s Zoom room “to make what different assembly attendees see look extra cohesive, elegant and pleasing to the attention.” Prospects additionally purchase weekly “consolation” items for family and friends equivalent to blankets and comfortable garments, skincare gadgets, pajamas and video games.

And as a substitute of luxurious condominiums, they’re in search of houses with outside areas, house gyms and good “Zoom rooms”. In San Francisco, wealthy new technicians are migrating from trendy “white field” flats within the SoMa neighborhood to first-world “trophy homes” in additional established areas like Nob Hill, Russian Hill, Pacific Heights and Sea Cliff, stated Joel Goodrich, an actual property dealer with Coldwell Banker World Luxurious within the metropolis. They’re enthusiastic about historic homes with elaborate modeling and structure.

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