Ultimately, bad policies reduce economic growth and decrease tax revenues, but this takes years or decades, and government today is such a giant kludge of disparate aspects that it’s hard to tell which policies were at fault.Â, In theory, people can always move from one country to another. He then joined his old Palantir buddy Londsdale at Londsdale's venture firm 8VC. But fixing government from the inside is not enough; American government is too big and too entrenched in outmoded processes and only loosely accountable to the American public.Â, This is why I’m attracted to the concept of “charter cities”: legally independent city-states, or “special economic zones” which are free to innovate and establish better modes and methods of government than existing players. His full stake is difficult to calculate because it is not broken out and is mentioned in relation to two entities, the VC firm he founded, 8VC, and Disruptive Securities, the secretive investment bank that Palantir reportedly has used to broker sales of its shares to private buyers. 13, when it was still small and stealthy, he wrote on Quora back in 2012. Over the latter half of that century, this measure spread from state to state and became ubiquitous.Â, Of course, the biggest success stories come from the most radical experiments. Adam Ross joined the board of directors at Palantir in 2015, according to the Wall Street Journal, the first non-founder and, for a long time, the only independent director, but he left the board in August 2020. The company, founded in 2004, is notoriously secretive. Building a city on new land that has few established connections to other cities, or connections that couldn’t bear a huge influx of new citizens, is even costlier. Thousands of governments work with software companies I have founded such as OpenGov, Esper, and Palantir, which help better allocate trillions of taxpayer dollars, bring data and transparency to the regulatory state, or use cutting-edge technology to enable new workflows to achieve public policy goals and save billions of dollars compared to how things were done before. But if we succeed, we’ll inspire other governments and start a new renaissance that will improve billions of lives.Â. Alex Karp holds a PhD in philosophy and is known for being a deeply intellectual influence at Palantir. Several investment funds managed by Disruptive Securities own Palantir stock, of which Lonsdale is affiliated with one of those funds. These features have made several small cities like Hong Kong and Singapore incredibly prosperous and have brought them countless new citizens. View Joe Lonsdale’s profile on LinkedIn, the world's largest professional community. Thiel-Backed Firm Helps Ultra-Wealthy Trade Hedge Fund Holdings, Business Insider list of Silicon Valley 100. Palantir, which is still operating at a loss, raised an estimated $537.8 million in private funding in June of which Sompo was one of several investors. But as a director, his personal stake is 2,665,944 Class A shares. There are 20+ professionals named "Joe Lonsdale", who use LinkedIn to exchange information, ideas, and opportunities. Intuitively, anything my neighbor gains is a loss for me. Good ideas rearrange the world in ways that make the things in it more valuable.Â, The practice of farming, for example, didn’t create new atoms even as it dramatically expanded the food supply. The company's S-1 filing did not name all of the investors who have bought shares in Palantir over the years, as it raised more than $3 billion in private funding, but it revealed who the biggest shareholders are. Value of stake at $9.50/share: just under $80 million. In this way, the city would directly compete with and attract citizens from nearby. Today he's an active angel investor and partner at A-list Silicon Valley VC firm Andreessen Horowitz. It costs a lot of money up-front to build roads and bridges and other infrastructure. We should draw inspiration from the concept of the charter city in crafting policy frameworks, and celebrate the efforts of the people who have embraced the thankless and too quickly mocked task of working to make these cities real. Disclosure: Palantir Technologies CEO Alexander Karp is a member of Axel Springer's shareholder committee. as well as other partner offers and accept our, https://www.sompo-hd.com/en/ir/data/disclosure/hd/online2019/interview/, Visit Business Insider's homepage for more stories, secretive investment bank that Palantir reportedly. Ideas. reported the Silicon Valley Business Journal. The best way to drive innovative governance is for governments or aspects of governments to compete for citizens just as companies compete for customers. The data firm founded by Peter Thiel started trading through a direct listing on Wednesday. The stock opened at $10 a share, popped to $11.42, and closed down slightly at about $9.50. But he remains a visible face and defender of Palantir, so much so that the company has paid him consulting fees of $144,000 in 2018, $240,000 in 2019, and $120,000 through June, 2020, respectively. In November 2019, Palantir launched Palantir Japan, a jointly owned entity with SOMPO Holdings. It has never been easier to move elsewhere, and communication technology helps us profit from the expertise and ideas of other people from thousands of miles away.Â, In my view, the best way to get a charter city off the ground is for a strong nation with a stable and fair political system to “sponsor” and protect the charter city on the model of Hong Kong - initially protected by the United Kingdom. Those that succeed would create incredible prosperity for their citizens and set the standard for the rest of the world. As basic research and scientific breakthroughs advance what's possible, entrepreneurs with ambitious visions introduce new and better ways of doing things. It has long resisted an IPO — and the kind of public scrutiny that comes with it. Deng Xiaoping’s special economic zone experiments were the basis for China’s gradual liberalization. So he gathered a few of the young programmers he had on staff and told them to build him a prototype. Shyam Sankar joined Palantir in 2006, as employee No. Today, he is a founder and director of the company. When entrepreneurs compete to offer better goods and services, good ideas "win" and spread. Those with below-average laws and institutions would quickly fall behind and be forced to adapt or lose population and become irrelevant. It’s time- consuming and expensive to move, and it’s sometimes difficult to get permission to enter a new jurisdiction.

Joe has 4 jobs listed on their profile. A public policy think tank delivering entrepreneurial solutions to some of America’s toughest public problems. Opinion by Joe Lonsdale. But as is customary, the day before its public offering, Palantir released a prospectus that gave us an updated view on the company's financials and top investors. It was founded by Alexander Davis, a grandson of the oil billionaire Marvin Davis. So how is positive-sum growth possible? View the profiles of professionals named "Joe Lonsdale" on LinkedIn. It went public through a direct listing, meaning existing shareholders can sell their stock directly, with no investment bank acting as an underwriter. Its claim to fame is big data projects for corporations and governments, including spy agencies. When a company does things badly, consumers punish it by buying a competitor’s product. Over the course of a century, Hong Kong developed from a standard port city into one of the most prosperous cities in the world - even as mainland China stagnated under communism. One might think that the threat of political “exit” would force countries to compete for citizens just as companies compete for customers - and to some degree this does happen at extremes.