Floating Libertarian City a Step Closer to Reality

Floating Libertarian City a Step Closer to Reality

When Peter Thiel, the billionaire founder of PayPal, helped launch the Seasteading Institute in 2008, it sounded like a libertarian pipe dream — floating cities free from government meddling (no regulation, no taxes) that would be testing grounds for technological, social and political innovation.

But this past January 13, the dream came one step closer to reality when the Seastead Institute signed a deal with French Polynesia that lays the legal groundwork for the world's first semi-autonomous floating city-state.

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