Facebook pledged $1bn to help California's housing crisis. Can't they pay their taxes instead? | Ross Barkan

The goodwill offer will buy temporarily for the tech behemoth which has wreaked havoc on democracies across the world

On Tuesday, Facebook announced it would contribute $1bn toward fixing California's existential housing crisis. This is a seemingly large number that will buy, temporarily, some goodwill for the tech behemoth, which has wreaked havoc on democracies across the world and hoovered revenue from news organizations.

The $1bn in grants and loans would be used over the next decade. Elements include a $250m partnership with the state of California for mixed-income housing, $150m for subsidized and supportive housing for homeless people in the Bay Area, and $250m worth of land near Facebook's Menlo Park headquarters. It follows a $1bn pledge Google made earlier this year for a similar effort.