Or so we hear from a College Park tipster claiming to be familiar with the residences of Facebook co-founder Mark Zuckerberg (paper wealth: $2 billion) and YouTube co-founder Jawed Karim (estimated wealth: $64 million). Public records confirm that Karim lives in the two-by-twelve-block Palo Alto neighbohood, adjacent to Stanford University; records indicate Zuckerberg has for months occupied property nearby, albeit in the form of Facebook's new headquarters, a short walk away from Karim.

But Zuckerberg is now a neighbor in a much more real sense, according to our tipster, renting a home right next door to Karim (as in side by side) on the same street. The brief commute would be one good reason for living there. Another: It looks like a leafy, laid back area, according to the ample photographs of the street on Google Maps. Based on Karim's address this is the block they share:

Why are Zuckerberg's neighbors ratting out his address? His employees are taking up the parking, and, we're told, residents complain that the fast-growing company is not providing enough spots (they're apparently not mollified by a proposal to begin requiring residential permits in some areas). You should probably get on that, Mark; these people know where you live.

In the meantime, local residents are missing the real outrage: That, in their 'hood, even insanely wealthy startup founders live in what most American suburbanites would consider modest pads.

Page, whose home address was accidentally revealed by a pro-privacy group last year, lives in Old Palo Alto. With homes more than a century old, it's what passes for historic in Silicon Valley, at any rate.

The new, 6,000-sq. ft. house observes all the green shibboleths: organic building materials, low-volatility paint, and so forth. (Never mind that lighting and heating such a large house will inevitably have more environmental impact than a more modest dwelling.)

Records for Santa Clara County show that 111 Waverley Oaks, a property adjoining Page's current residence at 111 Waverley Oaks, was transferred in September 2008. It was most recently assessed at a value of $3.3 million.

But the real environmental impact is on the neighbors, Palo Alto Weekly reports:

Ralph Britton, a retired electronic engineer and board member of Palo Alto Stanford Heritage, was walking the neighborhood when he noticed demolitions on four separate properties in Page's block.

"I noticed a house coming down, walked and saw another, and realized they were contiguous," Britton said. He described one house as elegant with a lot of land around it, a swimming pool in back and nice landscaping — much of which is still there. Another former home around the corner he called "imposing."

Britton's description of the property matches a satellite photo of the property available on Page's own Google Maps. Britton goes on to describe heavy construction on the block:

... neighbors are also concerned with the mess of construction, as well as possible damage to streets from heavy trucks.

"There's constant noise and confusion; when one finishes, the other starts," Britton said.

But fences are already up on the Page property, including mesh around protected trees, in preparation for construction. The work cannot begin until the city approves a permit.

A spokesman for Page told the Weekly that Page would seek a permit this week. Seems a bit late, with construction already underway. But since when have billionaires had to obey the law?

They were chanting something about "Team Redrum!" "Team Redrum!" "Team Redrum!" loud enough to distract from yogurt sales at Fraiche. We think the guy in the cape may be Zuckerburg, but can't confirm it.

The City of Palo Alto launched its brand-new website on August 1 to much fanfare and hype, crowing that the website has a "redesigned search engine that goes even beyond a Google-style search." True, in the sense that it goes beyond useful search results into complete and utter nonsense Some search results take a reported 11 seconds to load 16 tangentially-related results. The design also has its share of detractors who have bombarded the city council with complaints. As if the underdeveloped design and buggy search features weren't enough of a problem, the site itself doesn't comply with accepted Web standards or, we hear, render properly in browsers besides Microsoft Internet Explorer.

So far, the reaction from the city government has been to dodge and deny. City councilmember John Barton tried to placate the naysayers by acting as if the contracted companies were overprivileged school kids trying their hand at HTML: "Folks worked extremely hard and thoughtfully on this. They recognize it's not going to be perfect." That's what you get for $240,000: An "E" for "effort." Not bad for government work.

Parking:: Parking has always been scarce in downtown Palo Alto and Facebook has not made that situation any easier. There is a six-to-eight week waiting list for parking passes issued by the city government, and, until a new employee receives that pass, he or she either parks in surrounding residential areas or moves the car every two hours. Chaotic, to say the least. Jim Merryman, Facebook's director of real estate, recently joked that parking tickets from Facebook employees were a boon to local economy" (PDF). It's no joke if you live there, however.

Residential rents: Every Facebook employee living within a mile of the offices receives a $600 monthly stipend. This subsidized housing program has unleashed a flood of demand on a fairly tight supply. When rooms or apartments come onto the rental market, they're quickly snatched up by employees eager to cash in on the extra pay. I saw this first-hand. I recently moved to San Francisco after three years of living in downtown Palo Alto, and the only interested parties I met who interviewed for the room were Facebook employees, one of whom ended up moving in to my old apartment.

Office rents:CB Richard Ellis, the commercial real-estate brokerage, doesn't track downtown Palo Alto specifically. But office rents on the Peninsula have jumped 13 percent last quarter and 39 percent over last year to an average of $43.20 per square foot per year. It's hard to imagine that Facebook, in its effort to stay in downtown Palo Alto, isn't paying a premium over the market — and squeezing out startups which can't pay the same rates.

Cafes:: When I last tried, I couldn't find a seat, or an electrical outlet, at Coupa Cafe, one of Palo Alto's Wi-Fi hotspots. I blame Facebookers for this, too. With Palo Alto's cafes and restaurants in walking distance of the office, they're crowding everyone else out. But it's not like I blame them. Palo Alto is Facebook's town now. The residents? They just live there.

Say you arrive early for a meeting at Coupa, and you need to find a spot to get some work done. Here's your guide to downtown Palo Alto's alternative hotspots, plus a map from Gridskipper. You may not find as many power players — but at least you'll find a power plug.

• AOL's Netscape team explains its process of preventing users from gaming the site. Meanwhile, AOL's Weblogs, Inc. team games Netscape competitor Digg. (One Weblogs, Inc. writer tells me that Weblogs, Inc.'s internal mailing list is clogged with requests for Digg/Netscape/Reddit/Del.icio.us votes.) All's fair in love and war, right? [Netscape and Diggforlife]
• Palo Alto, the movie: in which four friends remember the hardships of growing up in the hundredth-highest per-capita-income city in America. [Pictured; Official site via Adam Hahn]
• Best summary of a tech-based musical ever: "I think that Google: The Musical wasn't really about Google. It was more about the zombies that attacked the main characters." [Google Blogoscoped]
• The country of Cameroon finds its true economic calling: making millions off exploiting the ".cm" domain name. [CNET]
• For those who are keeping track, Ted Leonsis creeps ever closer to achieving his entire list of life goals (presumably updated since he posted it in January). Noticably absent is "not sound kind of like a prick by posting already-achieved life goals." [Ted's Take]

I love money, and I wanted to learn more about the stock market. I like keeping accounts of my money. I have a ledger at home.

Twelve-year-old Kevin Kwan says:

All my life I've wanted a lot of money. My mom noticed that and thought this class would be good. My parents want me to be an investment banker, so I can invest lots of money.

And it's so cute to hear ten-year-old Lindsay Sapigao, a desperate market-obsessed daytrader, say:

This is helping me to know what I should tell my grandpa to invest in. I was going to tell him to invest in Apple, but it was going down, but now it's going up. So I'm not sure what to tell him.

What I did in summer school [Palo Alto Weekly]