Peter Thiel, founder of Paypal, invests $1.24 million to create floating micro-countries

By Elizabeth Flock – The Seasteading Institute, an organization founded in 2008 by Milton Friedman’s grandson Patri Friedmanthat facilitates the creation of sovereign, mobile communities in international waters.

The micro-countries Peter Thiel, Paypal founder, proposes are diesel-powered, moveable, 2,000-ton structures built on oil rig-like platforms, with space for 270 residents to...