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Inside a 'hacker hostel': CNET News Video

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CNET News Video: Inside a 'hacker hostel'

1:47 /

Thousands of hopeful tech entrepreneurs from around the world flock to Silicon Valley to strike it rich by launching the next killer app. Enter the "hacker hostel," a place to snooze -- and schmooze. CNET's Kara Tsuboi reports.

- Carlos de la Lama-Noriega is the head chef, cultural ambassador and manager for Startup Embassy, a four-bedroom ranch style home in suburban Palo Alto. He rents out beds to anyone coming to Silicon Valley with a dream. -All of the people are just thinking the house are like minded. They're all entrepreneurs. People sometimes want a desk and something to just work here. -A rent of $45 per night or 300 bucks per week covers a bed and a dormitory style room, utilities and access to the shared work space. -I just feel I can help others. I mean I know how other entrepreneurs are come from all fields. We just have questions and we don't know anyone to answer that, so who better to answer them that people just live that experience, right? -This is startup embassy, wall of photos and since July more than 60 aspiring entrepreneurs have lived under this roof. -Several similar hostiles have popped up throughout the valley, but this one is known for catering to an international crowd. Entrepreneur Eric Lind is from Sweden and plans on staying at Startup Embassy for 3 months. -You don't live here because it's cheap, because it's not necessarily cheaper than any other place. I would actually almost pay a premium to live in a place like this because of this network that you get. -So you build this [unk], right? -Yeah, that's right. -And by network, he says that other tenants are there to share ideas, tips and even resources like introductions to potential investors. -If I wanted-- want they wanna raise funds, I now have like 20 people that I know that come in and out of these houses that have gone through the process, that can teach me exactly on how to do it. If I hadn't stayed here, I wouldn't know them. -Room, board and connections. In San Francisco, I'm Kara Tsuboi, cnet.com for CBS News.

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