A new investment fund, the Balaji Fund, has been unveiled with the aim of creating libertarian societies known as "Network States."
A new investment fund, the Balaji Fund, has been unveiled with the aim of creating libertarian societies known as "Network States." Balaji Srinivasan, the founder of the fund and a prominent figure in the technology industry, announced the initiative, revealing that he would invest his own capital into the project.
The fund also boasts support from influential tech leaders, including billionaire Coinbase CEO Brian Armstrong, Naval Ravikant, co-founder of AngelList, and venture capitalist Fred Wilson, a board member of Coinbase who sold his shares for $1.8 billion after the company went public in 2021. Srinivasan himself served as Coinbase's Chief Technology Officer in the past, highlighting the strong ties to the cryptocurrency sector within the group.
In his announcement, Srinivasan expressed the fund’s goal is to invest in promising companies, particularly those involved in startup societies and network states. He emphasized the opportunity for others to contribute to the development of network states, presenting the Balaji Fund as one way to support this vision.
The concept of the Network State has been a long-standing ideological pursuit for Srinivasan, spanning a decade of exploration. He has delivered numerous talks on the subject, published a free online book, and organized a conference in Amsterdam earlier this year to advance the idea. The core premise revolves around the decline of the Western world due to the rise of centralized states, which Srinivasan believes disempowered wealthy industrialists through antitrust laws, securities regulation, central banking, and adversarial journalism.
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