Matt Rosoff

There’s a time warp along the stretch of Highway 101 that runs between San Jose and Marin County in Northern California. To many there, it looks like 1999 all over again. While the rest of the country is landscaped with foreclosed homes and empty big-box stores, San Francisco and Silicon Valley have a shortage of office space. Established tech companies like Google are offering seven-figure bonuses to retain talented engineers, while the Sand Hill Road offices of venture capitalists are full of optimistic twentysomethings looking for funding—and many of them are getting more than they need.

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