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Sources: a company spending $800M+ to buy thousands of acres to build a new Bay Area city is backed by Michael Moritz, Reid Hoffman, Marc Andreessen, and others (New York Times)

New York Times:
Sources: a company spending $800M+ to buy thousands of acres to build a new Bay Area city is backed by Michael Moritz, Reid Hoffman, Marc Andreessen, and others  —  A mysterious company has spent $800 million in an effort to buy thousands of acres of San Francisco Bay Area land.