Billionaire Michael Moritz and Harriet Heyman are offering up to $150 million for ideas that...

Billionaire Michael Moritz's newest bet to transform San Francisco is being driven by Crankstart – a private family foundation. Billionaire Michael Moritz and his wife, artist Harriet Heyman, are offering up to $150 million for ideas that could improve life in San Francisco, launching a global competition to address the city's housing affordability crisis and post-pandemic economic decline.The open competition, called "Boundless San Francisco," was announced on Wednesday by Crankstart, the private family foundation run by Moritz and Heyman. Up to three winning organisations will receive between $10 million and $50 million each to carry out their proposals, according to an official statement from the foundation and reporting by Bloomberg.Any organisation from anywhere in the world can submit a proposal, regardless of the topic, as long as the project directly benefits San Francisco residents."The best ideas rarely come from where you expect them," Moritz, 71, said in an emailed statement.Structured evaluation process for global applicantsOrganisers are running the competition with Lever for Change, a non-profit organisation that connects philanthropists with community projects. Leve...