Indian-American entrepreneur buys island to build new nation for tech, first look revealed
Instagram user Nick Peterson has shared a glimpse of a private island where Indian-American entrepreneur Balaji Srinivasan plans to found a future tech nation. Peterson is currently attending Srinivasan's Network School, a three-month, in-person program designed for aspiring startup founders and fitness enthusiasts.
Who is Balaji Srinivasan?
Balaji Srinivasan is an Indian-origin entrepreneur and investor, and has played key roles in several major tech ventures. He co-founded Counsyl, then went on to serve as the chief technology officer at Coinbase, and was a general partner at the venture capital firm Andreessen Horowitz.
Srinivasan was born to physician parents who migrated from Tamil Nadu to the United States. He earned his BS, MS, and PhD in Electrical Engineering from Stanford University.
Srinivasan's vision for a new country
Balaji Srinivasan envisions a new kind of nation called a 'Network State'- a digital-first, decentralized, and globally dispersed community that eventually seeks recognition in the physical world.
A kind of state with like-minded individuals united by shared aspirations and a set of values, often centered around technology, cryptocurrency, individual freedom, and innovation.
Its mission is to 'revitalize democracy for the internet era' and promote truth, health, and prosperity by helping participants grow personally, physically, and professionally.
In this instance, the community's core values include longevity, decentralization, and education.
What is the school about?
Launched in September 2024 by The Network State author Srinivasan, the Network School is a three-month immersive educational program.
It acts as a testing ground for his larger ambition, the creation of 'network states,' decentralized, digital-first communities that originate online and ultimately aim to establish physical territory and self-governance.
Where is the Island located?
In August 2024, Balaji Srinivasan revealed in a Substack post that he had acquired an island and was launching a new school near Singapore aimed at nurturing what he called the 'dark talent of the world.'
'We got an island. That's right. Through the power of Bitcoin, we now have a beautiful island near Singapore where we're building the Network School,' said the Indian-origin entrepreneur.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
43 minutes ago
- Economic Times
Trump's ‘Big Beautiful Bill' set to transform your taxes: Here's how
Congress approved President Donald Trump's tax bill. It brings significant tax changes for Americans. Individual tax rates are locked for a decade. The SALT deduction cap increases, but with limits. The child tax credit rises, and 'Trump Accounts' are introduced for kids. There are tax breaks for tips, overtime, and car loan interest. Seniors and heirs get extra relief. Tired of too many ads? Remove Ads 1. Individual tax rates locked in- no increases for a decade 2. SALT deduction cap quadrupled, but with new limits 3. Bigger child tax credit and new 'Trump accounts' for kids 4. Tax breaks for tips, overtime, and car loan interest Tired of too many ads? Remove Ads 5. Extra relief for seniors and heirs Fiscal impact and controversy In a razor-thin 216-214 vote, the House has passed the Senate's version of President Donald Trump 's sweeping tax legislation, known as the 'One Big Beautiful Bill Act.' The bill, which now heads to the president's desk, brings $4.5 trillion in tax breaks and spending cuts, promising major changes for millions of American taxpayers. Here are the five most significant ways this bill will reshape your taxes, according to verified details from Forbes and other leading bill makes permanent the individual income tax rate cuts first enacted under the 2017 Tax Cuts and Jobs Act. This means the top tax rate remains at 37%, and lower rates for other brackets are also locked in for at least 10 years. Taxpayers will not face a scheduled rate hike in 2026, translating to continued savings for many households.A major win for residents of high-tax states: the state and local tax (SALT) deduction cap jumps from $10,000 to $40,000 starting in 2025. This cap will increase by 1% annually through 2029. However, the benefit phases out for those earning over $500,000, with the cap reverting to $10,000 in 2030. Taxpayers can only claim this deduction if they itemize, and the standard deduction will be $30,000 for joint filers and $15,000 for singles in child tax credit rises to $2,200 per child starting in 2025. This directly reduces your tax bill, though the refundable portion for lower-income families remains capped at $1,600. The phase-out for high earners also continues. Additionally, the bill introduces $1,000 'Trump Accounts' for children born between 2024 and 2029, which can be invested for education, a first home, or starting a business, with favorable tax treatment on qualified withdrawals.A headline-grabbing feature: tips are now tax-free up to $25,000 for workers in eligible professions, with income limits of $150,000 for singles and $300,000 for couples. Overtime pay is also deductible up to $12,500 ($25,000 for couples), and there's a new $10,000 deduction for car loan interest for those earning under $100,000 ($200,000 for couples). These deductions are federal only—state taxes may still over 65 get a new $6,000 tax deduction (income limits apply), while the federal estate tax exemption jumps to $15 million. This means more wealth can be passed to heirs tax-free, though state estate taxes may still apply. These changes are expected to prompt new estate planning strategies for affluent the bill brings substantial tax relief, it is projected to increase the federal deficit by up to $4.5 trillion over the next decade. Critics argue the bill disproportionately benefits the wealthy, with the top 0.1% expected to receive average annual tax cuts of $309,000, while some lower-income households could see tax increases beginning in 2029.
Time of India
an hour ago
- Time of India
Trump's ‘Big Beautiful Bill' set to transform your taxes: Here's how
In a razor-thin 216-214 vote, the House has passed the Senate's version of President Donald Trump 's sweeping tax legislation, known as the 'One Big Beautiful Bill Act.' The bill, which now heads to the president's desk, brings $4.5 trillion in tax breaks and spending cuts, promising major changes for millions of American taxpayers. Here are the five most significant ways this bill will reshape your taxes, according to verified details from Forbes and other leading sources. 1. Individual tax rates locked in- no increases for a decade The bill makes permanent the individual income tax rate cuts first enacted under the 2017 Tax Cuts and Jobs Act. This means the top tax rate remains at 37%, and lower rates for other brackets are also locked in for at least 10 years. Taxpayers will not face a scheduled rate hike in 2026, translating to continued savings for many households. 2. SALT deduction cap quadrupled, but with new limits A major win for residents of high-tax states: the state and local tax (SALT) deduction cap jumps from $10,000 to $40,000 starting in 2025. This cap will increase by 1% annually through 2029. However, the benefit phases out for those earning over $500,000, with the cap reverting to $10,000 in 2030. Taxpayers can only claim this deduction if they itemize, and the standard deduction will be $30,000 for joint filers and $15,000 for singles in 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo 3. Bigger child tax credit and new 'Trump accounts' for kids The child tax credit rises to $2,200 per child starting in 2025. This directly reduces your tax bill, though the refundable portion for lower-income families remains capped at $1,600. The phase-out for high earners also continues. Additionally, the bill introduces $1,000 'Trump Accounts' for children born between 2024 and 2029, which can be invested for education, a first home, or starting a business, with favorable tax treatment on qualified withdrawals. 4. Tax breaks for tips, overtime, and car loan interest A headline-grabbing feature: tips are now tax-free up to $25,000 for workers in eligible professions, with income limits of $150,000 for singles and $300,000 for couples. Overtime pay is also deductible up to $12,500 ($25,000 for couples), and there's a new $10,000 deduction for car loan interest for those earning under $100,000 ($200,000 for couples). These deductions are federal only—state taxes may still apply. Live Events 5. Extra relief for seniors and heirs Seniors over 65 get a new $6,000 tax deduction (income limits apply), while the federal estate tax exemption jumps to $15 million. This means more wealth can be passed to heirs tax-free, though state estate taxes may still apply. These changes are expected to prompt new estate planning strategies for affluent families. Fiscal impact and controversy While the bill brings substantial tax relief, it is projected to increase the federal deficit by up to $4.5 trillion over the next decade. Critics argue the bill disproportionately benefits the wealthy, with the top 0.1% expected to receive average annual tax cuts of $309,000, while some lower-income households could see tax increases beginning in 2029.
The Hindu
an hour ago
- The Hindu
Shapoorji Pallonji Group unit eyes $300 million share-backed loan, sources say
Shapoorji Pallonji and Co., the construction arm of conglomerate Shapoorji Pallonji Group, is in talks with bankers to raise around $300 million to refinance existing debt, three sources familiar with the matter told Reuters on Thursday (July 4, 2025). The company may look to raise the funds in Indian rupees, and the loan would be backed by shares of Afcons Infrastructure , along with some other real estate assets, the sources added. Two of the sources further added that the debt to refinanced is owed to HDFC Bank, while it will look to avail the loan at around 15%, but the details are yet to be finalised. The company did not immediately reply to a Reuters email seeking comment. According to ICRA, the company had taken a term loan of around 22.50 billion rupees ($263.14 million) from HDFC Bank in March 2022.
