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Tech Riches and Rising Poverty: Silicon Valley’s Hidden Crisis Video

In This Episode:

Silicon Valley faces severe socio-economic challenges: median home prices exceed $1.2 million, making homeownership unattainable for many. The cost of living is 50% above the national average, exacerbating financial strains. Additionally, homelessness has surged by over 30%, leaving over 9,000 people without shelter.

Poverty Problems Of Silicon Valley

  • Housing Affordability Crisis: The median home price in Silicon Valley exceeds $1.2 million, making homeownership inaccessible for low- and middle-income families.
  • High Cost of Living: The cost of living in Silicon Valley is approximately 50% higher than the national average.
  • Homelessness: The homelessness rate in Silicon Valley has surged by over 30% in recent years, with over 9,000 people lacking permanent shelter.

"We believe that as you look around, poverty is a policy choice, and we can no longer afford it. So we focus a lot on advocacy at the state and federal levels."

About Amy Everitt:

Amy Everitt leads Golden State Opportunity (GSO), a nonprofit that aims to end California poverty through financial empowerment. As president, she shapes GSO’s strategy, oversees resource development, and acts as a spokesperson. Previously, Amy advocated for reproductive rights with NARAL Pro-Choice America and was involved in numerous political campaigns. She worked internationally as the Executive Director of the American Chamber of Commerce of HCMC, including in Vietnam. Amy is a fifth-generation Californian with UC San Diego and UC Santa Cruz degrees.

"Financial security is one way to unlock the creative and innovative opportunities."

Show Notes:

  • Introduction to Amy Everitt – Meet Amy Everitt, President of Golden State Opportunity, as she discusses their mission to end poverty and enhance financial well-being across California. 
  • The Power of EITC – Learn about the impact of the Earned Income Tax Credit (EITC) brought to the California state level, known as Cal EITC, and how it's helping millions claim back billions in tax refunds.
  • Challenges in Silicon Valley – Discover Silicon Valley's unique socioeconomic challenges, including severe housing affordability issues and income disparities. 
  • Community-Based Solutions – Amy shares how Golden State Opportunity leverages community involvement and partnerships with local organizations like the Bill Wilson Center to reach and support those in need. 
  • Impact of Policy and Advocacy – Explore the crucial role of advocacy in poverty alleviation and how Amy’s background in policy has shaped her approach at Golden State Opportunity. 
  • Technology's Role – Hear about the innovative use of technology in fighting poverty, including partnerships with fintech companies and the creation of helpful tools like tax refund calculators. 
  • Tax Education and Access – Amy discusses the organization's focus on educating hardly-reached communities about tax benefits and providing free tax preparation services. 
  • Overcoming Policy Barriers – Insight into the systemic barriers to eradicating poverty and how outdated policies need to be revamped for more effective poverty alleviation. 
  • Vision for the Future—Amy outlines Golden State Opportunity's future goals, including plans to expand its advocacy efforts nationally and build more political power to combat poverty. 
  • Call to Action – Learn how listeners can get involved with Golden State Opportunity through volunteering, advocacy, and community engagement to help make a real difference in combating poverty.

"Golden State Opportunity focuses on reaching these hardly reached communities and engaging them and educating them about the refunds that are sitting there waiting to be claimed by the money they’ve already earned."

Connect with Golden State Opportunity

If you would like to learn more or contribute to the mission of this organization, please contact:

"Amy’s passion and expertise are lighting the way toward financial empowerment for countless individuals across our state."

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