San Jose, California – Top Silicon Valley CEOs and executives have applied for federal and county subsidy programs, according to leaked confidential documents from the Housing and Urban Development (HUD) and the County of Santa Clara.
Facebook CEO Mark Zuckerberg and Google co-founders Larry Page and Sergey Brin have all been pre-qualified and approved for the federal Section 8 housing and county food stamps programs.
Section 8 of the Housing Act of 1937, authorizes the payment of rental housing assistance to private landlords on behalf of approximately 3.1 million low-income households. It operates through several programs, the largest of which, the Housing Choice Voucher program, pays a large portion of the rents and utilities of about 2.1 million households. The US Department of Housing and Urban Development manages the Section 8 programs. Eligibility for the housing subsidy is determined based on annual gross income, elderly, disabled or family status.
The food stamp program is administered by counties and is basically a food subsidy for individuals and families that meet certain criteria, not the least of which is income level.
By virtue of their $1 a year salaries, Zuckerberg, Page and Brin have qualified for the housing and food subsidies. Both HUD and the County of Santa Clara have sent notices to the three executives regarding their pre-qualification, according to the leaked documents.
Meanwhile, two other Silicon Valley CEOs, John Donahue II of eBay and Marissa Ann Mayer of Yahoo! are reportedly considering a pay cut to $1 a year so that they can be in the prestigious company of tech executives availing of government subsidy programs.
Campbell, California – Google, be afraid. Be very afraid. The beginning of a new year signals the start of new things: new laws, new trends, new start-ups.
In an obscure garage right on the border of San Jose and Campbell, a new, fun, tech company has made its debut as of January 1. A brainchild of two former Apple employees, Giggle made its initial bow, promising to stage a “David vs. Goliath” challenge to the Silicon Valley’s most successful tech company, Google.
Giggle’s maiden product is called iDream, a smart phone-activated eye mask, similar to those being handed out in the first-class sections of commercial airlines. It syncs with the smart phone, using an amazing app that lets the user experience his or her favorite television or movie character, and be that character for as long as the mask is in place. For example, one can be Mary Poppins or Spiderman or even Godzilla. Unlike real-life dreams, the iDream experience does not end abruptly. Rather, it ends only when the user decides to take the mask off.
The young inventors (and investors) hope to have their initial product in the market by February 14. Many tech analysts are saying that the iDream is by far the biggest threat to the Google Glass.
A television commercial introducing the iDream is set to begin airing in a few weeks, featuring Ann Hathaway reprising her tear and saliva-filled rendition of the song “I Dreamed A Dream” from Les Misérables.