Friedman and his followers are not the first band of wide-eyed dreamers to want to build floating utopias. For decades, an assortment of romantics and whack jobs have fantasized about fleeing the oppressive strictures of modern government and creating a laissez-faire society on the high seas. Over the decades, they’ve tried everything from fortified sandbars to mammoth cruise ships. Nearly all have been disasters. But the would-be nation builders assembled here are not intimidated by that record of failure. After all, their plans are inspired by the ethos of the modern tech industry, where grand quixotic visions are as common as BlackBerrys, and they see their task not as a holy mission but as something like a startup. A couple of software engineers came up with an innovative concept, then outsourced it to a community and let the wisdom of the crowd improve on it. They scored financing from a top-tier venture capitalist and assembled a board of directors. They will be transparent, blogging their progress. If they fail—which, let’s face it, is the most likely outcome—they will do so quickly, in time-honored Valley fashion. But if they succeed, they have one hell of an exit strategy.

Full Story: Wired