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VENICE, CA | February 19, 2015
After Snap goes public, the company's many paper millionaires will become fabulously wealthy. Money managers and realtors are lining up to help them spend and invest, which should push up the prices of everything from real estate to consumer goods in Venice, which was once a middle class part of Los Angeles. The Venice Sign spans the intersection of Windward and Pacific Avenues; it's a replica of the original sign from 1905 (which disappeared decades ago) hung by developer Abbot Kinney to lure buyers to this seaside town. (Melissa Lyttle for The New York Times)
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Melissa Lyttle/The New York Times
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NYTimes | various
VENICE, CA | February 19, 2015<br />
After Snap goes public, the company's many paper millionaires will become fabulously wealthy. Money managers and realtors are lining up to help them spend and invest, which should push up the prices of everything from real estate to consumer goods in Venice, which was once a middle class part of Los Angeles. The Venice Sign spans the intersection of Windward and Pacific Avenues; it's a replica of the original sign from 1905 (which disappeared decades ago) hung by developer Abbot Kinney to lure buyers to this seaside town. (Melissa Lyttle for The New York Times)