🗿 Finally a Country on a Private Island

GM. Happy Tuesday. We have a positive outlook on humanity today, a pretty rare occurrence, so hopefully we can spread some of that attitude to our readers.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

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What’s a Network State and When Can We Go?

This week Former a16z VC Balaji Srinivasan announced that he has obtained a private island for his new longevity ‘technocapitalist’ school. 

Okay so, tl;dr, what is a “network state”?

It can be defined as a form of governance that leverages digital platforms to create a decentralized, yet cohesive, community of individuals who share common goals and values. The concept of network states has been gaining traction in recent years, as more global, online communities have grown. 

Balaji Srinivasan of a16z fame is one of the most notable proponents of the concept. Srinivasan has made a major move towards bringing this vision to life by purchasing a private island. This island is intended to be the headquarters for his new longevity technocapitalist school. There he’ll run programs on crypto, longevity and what it takes to establish “a technocapitalist college town. 

From what we can gather, here are the key characteristics that define a network state:

Decentralization - Power and decision-making are distributed across the network, rather than being concentrated in a central authority.

Digital Infrastructure - The community relies on digital platforms for communication, governance, and economic transactions.

Shared Values - Members of the network state are united by a common set of goals and principles.

After breaking it down, it’s not as crazy as headlines read. People have been doing similar several week long excursions for years in crypto, but not to a private island. And not permanently setting up a “college town”.

Would a Network State really work?

I’m sure there are plenty of geopolitical reasons that this is not realistic, but let’s pretend that it’s possible for a minute. Why would it be great, hypothetically.

Adaptability - Unlike traditional nation states, which are often burdened by historical, cultural, and bureaucratic inertia, network states can be designed from the ground up to meet contemporary needs. They could quickly adapt to changing circumstances, whether they be economic shifts, technological advancements, social transformations, the next COVID. Whatever you got, a brand new system would probably perform more efficiently. 

Tech - With a focus on tech like web3, ai, and biotech, these states would provide superior services in healthcare, education, and governance. For instance, Srinivasan's focus on longevity research could lead to groundbreaking advancements in healthcare that traditional states, with their slower bureaucratic processes (looking at you FDA), might struggle to implement. Why are we always seeing medical advancements on IG that no one ever seems to receive irl?

“Enhanced Governance” - If we’re starting from square 1, we could implement more transparent, accountable, and participatory forms of governance. Smart contracts and decentralized decision-making processes can reduce corruption and increase citizen engagement. To name 1, there are some issues in Venezuela that never could have happened on-chain. 

Is it realistic? Nah, probably not. 

As we mentioned, there are a million reasons it wouldn’t happen. But it’s fun to think about. Just a modern, uncorrupt, transparent government. If you’re in the U.S. and super stressed about election noise, maybe just mute that and set google alerts for Srinivasan and his network state. 

What We’re Reading

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This Week’s App De Jour: GigaBrain

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.