363 karma · joined July 23, 2007
Same query and image:
This line graph illustrates the working-poor rate of the US labour force from 1986 to 2022 (those working and below the designated poverty line). The graph can be broken down into 3 main proceedings. 1. The first spike in working-poor individuals was displayed in 1992. 2. That peak was then over shadowed by a dramatic incline and following higher peak in 2010 possibly caused by the 2008 housing crisis 3. 2010 was then followed almost immediately by a steady decline to the point of bringing the working-poor rate below 4 percent for the first time in 30 years in 2022.
In our case, we offered all vested employees the option of selling in the same round on the same terms.
I personally don’t recall any disclosure requirements at 10 people; however, we didn’t have that many participate so perhaps it didn’t apply.
In general, Founders Preferred does layer on the preference stack but also hopefully by a relatively trivial amount to the overall funding size.
First, in San Francisco, to qualify for "affordable housing", you have to make under the poverty line in San Francisco. That means under 110k for a family of 4. If a builder were to want to build affordable housing to help these populations, it is not financially feasible without the government paying for it b/c one would have to sell or rent this newly built housing at significantly below what they paid for it.
So then enter rich white elitists like Preston and Peskin (with ties to the real estate lobby / land owners themselves) who want to enrich themselves by increasing the value of their own land. What do they do? They block all new housing development in San Francisco so the supply is permanently depressed and gate it on building "affordable housing". They package that up as a news story in helping vulnerable communities by making a few affordable homes but in in reality, housing gets more expensive and unaffordable for everyone.
Just so a few richly compensated officials can enrich themselves even more, at the expense of the poorest residents.