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Tyler Winklevoss
Silicon Valley money picks up L.A. trophy homes
Silicon Valley money picks up L.A. trophy homes

Nothing like a splash of tech/Internet entrepreneur money to pick up the local real estate market. Making tsunami-like waves so far this year are three Westside transactions: Billionaire venture capitalist and hedge fund manager Peter Thiel cherry-picked a house in the Hollywood Hills this spring for $11.5 million. The early Facebook investor and PayPal co-creator bought a 1.25-acre property containing a 6,000-square-foot view house with a swimming pool. Gateway Computer co-founder Ted Waitt picked up a nearly 11,500-square-foot mansion in Bel-Air this summer for $14 million. The six-bedroom Mediterranean sits on a promontory of more than an acre with a guesthouse and views from...

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