US billionaire Marc Lore wants to establish a sustainable city by 2030

US billionaire Marc Lore wants to establish a sustainable city by 2030, which is to become a showcase for the latest technologies and new forms of public administration. With unique service funding based on rising land prices, Lore wants to create a community in which one of the fundamental problems of the capitalist order - income inequality - disappears. Lore served as president of the Walmart retail chain from 2016 to this year. He had previously built a pair of startups focused on selling over the Internet, which he sold for billions of dollars. Now he wants to build his own city from the ground up. The billionaire introduced a project called Telosa this month. His vision takes into account nature-friendly architecture, sustainable energy sources or the concept of the so-called city of short distances. The metropolis should be built so that its inhabitants have all civic amenities, workplaces or schools for their children within a maximum of 15 minutes from home. The infrastructure is designed by the Danish architectural studio Bjarke Ingels Group, which last week unveiled the first possible appearance of the city in visualizations. On them you can see residential buildings covered with greenery, self-driving electric cars or people on electric scooters. Cars with internal combustion engines will be banned in the city. In addition to sustainability, however, Lore promises from the project that it will solve income inequality. It was already in the United States before the pandemic at the highest level since the 1920s, and covid further deepened it. According to Lore, this is the biggest challenge the US is facing now. "Most civilizations in history have begun to decline at some point, this is what will pull down America," he told Bloomberg Business Week. Its recipe for inequality is based on the new city financing its operations from the growing value of the territory in which it is located. This model is inspired by the successful book by the American economist Henry George from 1879 entitled Progress and Poverty. George sees private land ownership as the reason for growing inequality in society.