• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire

3

Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire

3

Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
TechSilicon Valley

Opponents of secret California tech city heckle its billionaire backers at meeting with shouts of ‘shill’ and ‘smooth talker’

By
Eliyahu Kamisher
Eliyahu Kamisher
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Eliyahu Kamisher
Eliyahu Kamisher
and
Bloomberg
Bloomberg
Down Arrow Button Icon
November 30, 2023, 5:52 PM ET
Land recently purchased by Flannery Associates.
Land recently purchased by Flannery Associates.Josh Edelson—AFP/Getty Images

A group of Silicon Valley billionaires led by former Goldman Sachs Group trader Jan Sramek have quietly bought up over $800 million worth of Northern California farmland to create a new city from scratch. But their vision of a sustainable utopia is drawing persistent opposition from locals who are fighting to preserve a rural way of life.

At the first of several town halls meant to win over the community, Sramek laid out his vision of turning the land into a dense, walkable city that would create high-paying jobs and boost economic growth. But many residents at an event late Wednesday were outraged by his proposal, shouting him down as a “shill” and “smooth talker” and leveling allegations that his company, Flannery Associates LLC, engineered a secretive land grab.

The contentious meeting signaled the challenges ahead for Sramek, 36, as he navigates the politics of rural Solano County, an hour north of San Francisco. As part of an ambitious project known as California Forever, he’s led the acquisition of 53,000 acres used mostly for cattle grazing and farming. Backers include Silicon Valley luminaries such as former Sequoia Capital Chairman Mike Moritz, LinkedIn co-founder Reid Hoffman and venture capitalist Marc Andreessen. 

“This might look like a crazy idea to some of the people in the room,” Sramek said at the town hall in Vallejo. “But so did most of the companies that they invested in.” 

Sramek made his pitch at the Vallejo Naval & Historic Museum, as residents sipped complimentary apple cider and eggnog. The California Forever project has announced five additional meetings for December in other locations. Sramek plans to seek voter approval for his city concept through a ballot measure in November 2024. 

Standing in front of a slide deck at the Vallejo meeting, he touted his “blue-collar” upbringing in the Czech Republic, a successful Wall Street career and the backing of big-name investors. He also dangled the potential for affordable housing in a state where pricey real estate and the high cost of living have prompted many residents to flee to states such as Nevada, Arizona and Texas.

“Everyone is shocked that schools are expensive and people’s kids are leaving the state and nobody can afford to live here,” Sramek said. “It’s really simple. There’s just not enough homes in California, and we’ve really screwed it up over the last 40 years.”

His effort already faces an uphill battle. A coalition of farmers, mayors, and environmentalists have all criticized the project for potential impacts to sensitive habitats and agricultural businesses, along with concerns about the security of nearby Travis Air Force Base. The Sierra Club, a leading environmentalist group, dubbed California Forever a “hostile takeover” this week. 

“They’re not trying to listen to the community. This is a sales pitch,” said Aiden Mayhood, a 22-year-old resident of nearby Rio Vista, before the town hall in Vallejo. 

Further roiling the waters, Flannery is suing a group of Solano landowners for allegedly colluding to inflate their property values. The Sramek-led company is seeking at least $510 million in damages. The landowners deny wrongdoing. 

‘Nothing Nefarious’

Sramek accused his critics of opposing new housing developments in the region regardless of who is behind the project. 

“The people who don’t like this project for ideological reasons have tried to weaponize the fact that this was bought in secret,” he said. “There is nothing nefarious about it.”

During the town hall, residents repeatedly interrupted Sramek and shouted out their lack of faith in Wall Street trader-turned-novice developer. One of the most contentious moments came when Marge Grow-Eppard, a member of the Miwok tribe, said Sramek had disregarded the region’s indigenous population and would “cement over” Native American burial grounds. 

“What about the Native American graves that you’re going to be excavating and building on without even consulting us, the natives of this land?” she said. “This is very disrespectful for us, and I’m sick of developers coming in and we don’t know nothing.”

Sramek said he was a relative newcomer to the US, with only a decade in the country. 

“I could not have done anything to your people,” he said. 

Join our exclusive webinar on May 28, featuring tech leaders from Orange, Mars, Reckitt, and Saint-Gobain. Apply to attend and receive Fortune’s editorial takeaways.
About the Authors
By Eliyahu Kamisher
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

r
EuropeRussia
A country of 2.9 million people on Russia’s border just had 600,000 national records stolen
By The Associated PressMay 25, 2026
4 minutes ago
g
EnvironmentLaw
You can’t repair your tractor because Hollywood was terrified of the VCR
By Oana Godeanu-Kenworthy and The ConversationMay 25, 2026
1 hour ago
Antonio Gracias, founder, chief executive officer and chief investment officer of Valor Equity Partners
InvestingSpaceX
Elon Musk’s best friend could make more than $100 billion from SpaceX’s IPO. His firm is also owed billions by SpaceX
By Eva RoytburgMay 25, 2026
4 hours ago
Huawei touts chip breakthrough to shorten gap with TSMC
AsiaChina
Huawei touts chip breakthrough to shorten gap with TSMC
By BloombergMay 25, 2026
5 hours ago
mollick
Economydisruption
‘Nobody knows anything’ and ‘this time is different’: the phrases that define — and haunt — the AI economy
By Nick LichtenbergMay 25, 2026
5 hours ago
Becky Schmitt, the chief people officer of PepsiCo
Future of WorkWorkplace Innovation Summit
PepsiCo CPO says their ‘secret sauce’ to hiring top talent is that they all have hustle—And are agile and curious in the AI era
By Emma BurleighMay 25, 2026
6 hours ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
4 days ago
The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire
Economy
The pig in the python: Baby Boomers are strangling the economy they built by refusing to move or retire
By Nick LichtenbergMay 25, 2026
9 hours ago
Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
Lifestyle
Uber CEO says rideshare 'freed up' his son from having to get a driver’s license—and he's one of many Gen Zers who aren’t willing to drive
By Sasha RogelbergMay 24, 2026
1 day ago
Inside the 'stealth wealth' playbook: How Silicon Valley's elite buy multimillion-dollar mansions without leaving a paper trail
Real Estate
Inside the 'stealth wealth' playbook: How Silicon Valley's elite buy multimillion-dollar mansions without leaving a paper trail
By Sydney LakeMay 24, 2026
1 day ago
This 39-year-old quit his lineman job during the pandemic and built a $50 million company in his backyard
Success
This 39-year-old quit his lineman job during the pandemic and built a $50 million company in his backyard
By Nick LichtenbergMay 23, 2026
2 days ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.