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How? The city aims to be a low-cost way of living, and Hackertopia a for-profit entity with a surplus to enable donation to charities. Where does the city's r
by bmelton 16y ago
How? The city aims to be a low-cost way of living, and Hackertopia a for-profit entity with a surplus to enable donation to charities. Where does the city's revenue come from? I doubt the property taxes being levied are going to generate sufficient revenue for infrastructure, payment of civil servants (which I didn't see mention of), donations to charities and profit.
Further, if everybody that founds the city brings their own jobs, then who's going to set up the local economy? What funds the initial city development? Where does the power come from? How much are the utility bills? Who do I buy my high speed internet from?
Clearly a lot of thought has gone into this, but I highly doubt that enough thought has. It effectively claims to be the answer to everything, but nothing ever is.
- bokonist 16y agoUtilities (power/water/internet) would be funded like any other real estate development. The cities revenues come from real estate taxes. I do think that most cities spend their money in a wildly inefficient manner, and if they were run as for-profit businesses they could provide all the essential services and turn a profit. But the major upside for the investors in the city corporation would be if the city owns far more land than the initial development. If you buy ten square miles of undeveloped land for $10k an acre, then a city of 25k grows up in one square mile of it, that remaining nine square miles is far, far more valuable than the original purchase price.