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PayPal founder’s next project: Libertarian island nations


Peter Theil, the billionaire investor who co-founded Internet payments processor PayPal and made a key initial investment in Facebook, has a whole new idea occupying his time lately: according to a profile published in Details magazine Tuesday, he wants to build a series of island nations governed by a strict libertarian ideology.

The bizarre experiment would be a way to test alternative theories of governance, he and associates told reporter Jonathan Miles. The micro-countries would be something like city-states floating the ocean on massive platforms, like oil rigs.

Theil's profile also mentions that he originally wanted PayPal to be a BitCoin-like alternative currency, in the techno-anarchist sense, acting as a store of value immune to the fluctuations of national currencies.

He's even gone so far as to donate $1.25 million to the Seasteading Institute, to study the viability of livable platforms that rest on top of the ocean's waves.

Pay Pal founder and early Facebook investor Peter Thiel has given $1.25 million to an initiative to create floating libertarian countries in international waters, according to a profile of the billionaire in Details magazine. Thiel has been a big backer of the Seasteading Institute, which seeks to build sovereign nations on oil rig-like platforms to occupy waters beyond the reach of law-of-the-sea treaties. 

1 Comments in Response to

Comment by PureTrust
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Now with China developing its navy - you heard about their aircraft carrier, didn't you? - there will be a big sea battle between the U.S. submarines and those of China. They will be battling for first dibs on nuke-torpedoing the Libertarian island nations.