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Ranch land and wind turbines near Rio Vista, in the Montezuma Hills area of Solano County, California. A company called Flannery Associates has been purchasing large amounts of land in the area. Photograph: Jim Wilson/The New York Times In 2017, Michael Moritz, a billionaire venture capitalist, sent a note to a potential investor about what he described as an unusual opportunity: a chance to invest in the creation of a new California city. The site was in a corner of the San Francisco Bay Area where land was cheap. Moritz and others had dreams of transforming tens of thousands of…
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