Billionaires pledge $150M via Crankstart to address San Francisco's housing and economic woes

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Billionaire couple Michael Moritz and Harriet Heyman have announced a $150 million initiative to improve living conditions in San Francisco. The funding will be channelled through their foundation, Crankstart, which is inviting organisations to propose innovative solutions. The competition focuses on tackling the city's pressing housing shortages and economic challenges. Applicants will be evaluated over a period leading to a final funding decision in autumn 2027. The initiative underscores San Francisco's growing reliance on private philanthropy to address critical public issues.

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