Pain Index, now in its fourth year, is a meta-analysis of dozens of studies and reports on Silicon Valley over the past year.
Silicon Valley is an embarrassment of riches for some and a struggle to get by for many who live there, but a report Tuesday puts the gap between rich and poor in the cradle of technology and innovation into stark relief: Just eight households in the region hold more wealth than the 500,000 at the other end of the earnings scale.
The index is a meta-analysis of more than 60 recent studies and reports on Silicon Valley, defined as Santa Clara and San Mateo counties, published in the year since the third report in June 2022. The index presents 110 statistics laid in numbers from 0 to 1.5 trillion that show how racial minorities received less of Silicon Valley’s economic, political, educational and social rewards.
“This year’s report underscores the myriad social and economic challenges facing our region, which have only deepened in the wake of the post-pandemic economic volatility,” said SVLG CEO Ahmad Thomas. “It’s why SVLG and our member companies remain committed to a new vision of leadership for Silicon Valley — one that is focused on creating a more equitable, inclusive and sustainable future for everyone.
28: The percentage of Silicon Valley households that don’t earn enough to meet their basic needs without public or private assistance.$72 million: What Google, Adobe, Intel and Zoom donated to local nonprofits in 2021, about 0.02% of their total revenue.$1.5 trillion: The total wealth of Silicon Valley households, including real estate.
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