Business US
IPO boom mints thousands of new millionaires and Silicon Valley angst

SAN FRANCISCO — Venture capitalist Jenny Xiao noticed a change in her Bay Area social circles as the artificial intelligence boom swelled in recent years.
“When I met these people back five years ago, they lived in the shittiest apartments and they were cheap AI researchers,” she said. “Now every other weekend someone’s in Hawaii [or] vacationing in Switzerland.”




