Facebook could be your next landlord . In an effort to cram up support for thecontroversial expansionof its military headquarters , the social media giant is trying to give back to the community by build at least 1,500 trapping units that can be rented by the general public — not just Facebook employee .
But there ’s a grab . As Facebook slowly wades into the veridical demesne developing business , the troupe is crowd an belligerent PR schedule to convert people that Facebook does not exacerbate income inequality in area where it develops real estate . Facebook has pledged that 15 percent of the new units it create will go to low- or halfway - income families . Which is big until you realize that 85 percent of the construction will probably be ridiculously expensive and probably populate by local technical school bros .
Facebook has been embroiled in a fiery debate about income inequality for years . This January , theWorld Bank publisheda 330 - page report showing how the largest technology companies are increasing income inequality rather than helping it . “ Some of the perceived welfare of digital applied science are offset by emerging risks , ” the report said . “ Many advanced economies confront increasingly polarized toil market place and rising inequality — in part because technology augments higher skills while replacing routine jobs , forcing many workers to compete for low - pay job . ”
That ’s exactly what take place when Facebook attracted thousands of new residents into the Menlo Park area , where its headquarters is locate . Most of the new residents are well - educated , high - income earner who drive up living accommodations pricers , squeeze lower income household to move , and exasperate income inequality throughout the area . plainly , that does n’t win Mark Zuckerberg many new friends in the domain .
Meanwhile , Facebook is trying to gain ground support for a lucrative proposal to expound its headquarters by1.1 million square feet . The proposal is still miss some important details , though . For starters , it ’s still undecipherable if Facebook itself will produce the buildings or hire a third party . second , it ’s also unclear what the timeline for the exploitation is . Despite lacking specifics , the impact of the proposal is obvious : Facebook would dramatically increase its footprint in an region where it ’s already driven up genuine the three estates prices and driven out those who ca n’t yield the rent .
This is n’t the first time Facebook has been take in controversial housing development , either . In 2013 , the companybuilt a 394 - unit housing communitywithin walking distance of its office staff that included its own sports streak , outdoor pool , and pet day care .
At the time , a Wall Street Journal report referred to the project as being similar to a “ troupe town , ” the name for small communities build by robber barons of the 20th century that housed factory workers . The employer provided everything including wellness care , police force enforcement , and even church . Towns like Pullman , Illinois were created as “ capitalist utopia . ” But ultimately , the bosses failed to protect worker and residents .
Is Facebook turning Menlo Park into a 21st century adaptation of Pullman ? It ’s too shortly to assure . The new office expansion is slated service at least 6,500 new employees and offering living accommodations to the cosmopolitan public to countervail herd concern is certainly a gesture on Facebook ’s part . But while some pathetic people will get homes in the novel real estate development , it ’s surely wo n’t be enough to fix the country ’s greater socioeconomic problems .
[ Wall Street Journal ]
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