The dot-com bust, the 2008 recession, and a backlash against tech power are just some of the challenges the tech industry has faced. They have overcome conflicts of interest and regulatory land mines.
Some of them faced their most threatening opponent to date: apartment complexes.
In one of Silicon Valley's most exclusive and wealthiest towns, they battled. There, tech chief executives and venture capitalists banded together over the fear that there could be more than one home on a singleacre of land.
What's their weapon? The letters were strong.
With the possibility of new construction, Rachel Whetstone wrote a letter to the City Council and the mayor that she was very concerned about traffic, tree removal, light and noise pollution.
Anthony Noto, the chief executive of the financial technology company SoFi, and his wife, wrote that many families, including his, had employed private security because of the increase in crime.
Bruce Dunlevie, a founding partner at the investment firm Benchmark, and his wife, Elizabeth, said that the developments would create a town that is no longer suburban in nature but urban.
Andrew Wilson, chief executive of the video game maker Electronic Arts, was one of the residents who objected.
They were fighting a plan to help the town comply with state requirements. California cities have to show state regulators their plans for new housing every eight years. The town is on the hook to add more than 300 units.
Many California towns, particularly ones with rich people, have fought higher density housing plans in the past. Tech leaders who live there have championed housing causes because of the extreme wealth of its denizens.
The companies that made Atherton's residents rich have donated a lot of money to nonprofits to offset their impact on the local economy. The letter writers sat on the boards of charities to address the region's poverty and housing problems.
Even though the town's housing density is very low, residents have objected to the developments.
According to Jeremy Levine, a policy manager at the Housing Leadership Council of San Mateo County, a proposal to build multi-dwelling units was supported by the group.
The area of San Mateo County known as Atherton has long been known for its shyness towards development. The town voted to close the train station after suing the state to stop the high-speed rail line.
Multi-dwelling homes are not allowed in the rules of itszoning. In June, the City Council proposed an "overlay" designating areas where a number of townhouse developments could be built. The largest of the sites has 40 units on five acres.
The outcry started at that time. Creative ways to comply with the state's requirements were offered by objectors. A technology executive wrote a letter suggesting that Atherton count all the pool houses.
People talked about their home values. The venture capitalist and his wife warned in a letter in June that more than one residence on a singleacre of land will greatly decrease their home. The couple signed the letter with their address and a reference to their properties on Tuscaloosa Avenue.
The Atlantic was the first to report on the letter.
Housing in the Bay Area is one of the things Mr. He decried the lack of housing built in the United States in a 2020 essay.
He wrote that we should have great living environments in all our best cities. They are not located.
Other venture capital investors who live in the area are Aydin Senkut, Gary Swart, Norm Fogelsong, Greg Stanger, and Tim.
Tech companies have given money to address the Bay Area's housing crisis. The company formerly known as Facebook has committed $1 billion to the problem. One billion dollars was pledged by the company. They both had pledges of $2 billion. The grants were made to the housing nonprofits. The board of Tipping Point was chaired by Mr. Arora of Palo Alto Networks.
Mr. Senkut was upset because he felt that the proposal was done in a way that didn't involve the community. He worried about the safety of his children because of the increased traffic.
Ask the neighborhood what they want if you have to do something.
Representatives for Mr. Wilson and Mr. Johnson did not respond. The other letter writers didn't reply to questions.
The townhouses portion of the plan was removed from the plan in July due to the large amount of responses. It proposed a program to encourage residents to rent out accessory dwelling units on their properties in order to allow people to subdivide properties and possibly build housing for teachers on school property.
The proposal said that Atherton is different. It is a cash-poor town with few people who are considered to be at risk for housing.
According to Rick DeGolia, the issue with the townhouses was that they wouldn't fit in with the state's definition of affordable housing because of the cost. The developer said the units could go for $4 million each.
He said that everybody who buys into the place spent a lot of money. The people are very concerned about their privacy. There is a different focus on getting affordable housing.
The Department of Housing and Community Development needs to approve the plan. California could take control of local land-use authority if cities don't comply with the state's requirements for new housing.
The state had rejected most of the initial proposals that Good City was hired to create.
He said they are aware of that. We might have to revisit some things in the fall.
Similar situations have played out across Northern California. Atherton's wealth attracts attention and interest, not all of it positive.
He said that people are not as sympathetic.
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