logo
logo

Facebook Is Building Flats Anyone Can Rent—But There's a Huge Catch

avatar
Jason Hill
img

In an effort to drum up support for the controversial expansion of its headquarters, the social media giant is trying to give back to the community by building at least 1,500 housing units that can be rented by the general public—not just Facebook employees.

As Facebook slowly wades into the real estate development business, the company is pushing an aggressive PR agenda to convince people that Facebook does not exacerbate income inequality in areas where it develops real estate.

Facebook has pledged that 15 per cent of the new units it creates will go to low- or middle-income families.

Which is great until you realise that 85 per cent of the building will probably be ridiculously expensive and probably populated by local tech bros.

Facebook has been embroiled in a fiery debate about income inequality for years.

Some of the perceived benefits of digital technologies are offset by emerging risks, the report said.

collect
0
avatar
Jason Hill
guide
Zupyak is a free content platform for publishing and discovering stories, software and startups.