Vinit Bharara

With such incredible, material progress over the last 100 years, why are we still in a situation where many people are just barely getting by? Over the last couple of years serial entrepreneur and investor, Marc Lore, has been focused on trying to answer that question. While researching, he was inspired by a book called Progress and Poverty by Henry George, a late 19th-century economist, who was asking the same question. Capitalism has been an incredible economic model, but there are significant flaws, especially around income and wealth inequality. Many of these flaws are a result of the land ownership model that America was built on... There's a finite amount of land and that land was claimed generations ago — communities were created, tax dollars were used to invest in the land, and therefore the land increased in value over time with landowners not having to produce anything or take any risk. Land could essentially go from a barren piece of desert to a modern day city worth billions (or even trillions!). It brought up more questions and Marc began thinking through a potential solution... What if that land had been owned by a community endowment? What if you took that land appreciation and gave it back to the community since they created the value? What if we had a clean slate to demonstrate this new model? And, what if you made that city the most sustainable city in the world? Today, we've built a growing, diverse team of experts to continue to ask and solve these questions (and more!). Our vision is big. It’s not only about creating the city of Telosa itself — one that sets the standard for urban, big city living. It’s also about the people — creating opportunity and equality, celebrating diversity and inclusion, and a sense of pride for where we live. In the end, if we get Equitism, it could serve as the blueprint for a new economic model that the world can learn and benefit from.