Could the next unicorns be private cities? A primer on a 120,000-resident, $5 billion GDP private city experiment in China, plus valuation models on network states.
Awesome to see classic valuation methodologies applied to Network States. What revenue models do you see most likely for Network States? What value should taxes capture? Especially when thinking about pre-real estate NS?
Really interesting piece Zane. The idea of overstretched Western governments having the grace and humility to delegate more of their current responsibilities in this way is tantalising, but feels unlikely in the near future. It’s striking that even as the idea of a private city remains outside the Overton window in most Western countries, China has actually already gone ahead and done it. We can’t even get to theory and they’re already learning-by-doing.
That said - I’ve not been able to find much English-language information about Jiaolong or its founder Huang Yujiao. Where exactly is Jiaolong?