By: Amalya Teitelbaum, Business Editor & Manager
As if the world has not already been through enough absurd, fantasy-like events in the past few years, a billionaire has now decided to build a city in the middle of the desert (the American desert to be precise). Former Walmart executive and current entrepreneur Marc Lore unveiled plans for Telosa, a sustainable metropolis that he hopes to create from scratch, in the American desert. The ambitious, 150,000-acre proposal promises eco-friendly architecture, sustainable energy production, and a purportedly drought-resistant water system.
Telosa was created with a revolutionary idea in mind: To create a city in America that sets a global standard for urban living, expands human potential, and becomes a blueprint for future generations. Renewable resources i.e. solar power will power the city and the city will also contain diverse housing options available for people of diverse ethnic and socioeconomic backgrounds, providing for a major impact on economic growth.
A key factor that will allow Telosa to impact the economy is its second creation purpose; closing the wealth/wage gap in America. Lore explained how he plans to buy cheap land in the West or Appalachia regions and create a town named Telosa—derived from the Ancient Greek word meaning “highest purpose.” The city would feature indoor farming, energy-efficient buildings, autonomous electric cars, and high-speed transportation. These are all implementations that state and federal governments have been discussing for quite some time but have yet to fully bring into action.
Not only is Lore considering the immediate economic benefits, but he is also playing the long-term game as well. Lore predicts that as the city grows, the land could eventually be worth $1 trillion, and earn $50 billion annually from investments that would be used to ensure that every citizen – no matter their income – has equal access to healthcare, proper education, clean parks, safe streets, and public transportation. This is all part of the underlying phenomenon which was the third creation purpose; equitism.
Equitism, the concept of a desperately-needed socioeconomic system in which the workforce environment distributes gains within reason between the employees’ wages and management’s compensation. This system may also be implemented in a government to a more democratic rule of all people considered equal. This concept, as Lore explains, is a twist on capitalism and a way of sourcing communities growth within the community itself as opposed to outsourcing it.
While at first thought the idea may seem borderline crazy, this new city will allow incredible opportunities not only for economic growth but for the quality of life for its civilians. As stated earlier, Telosa in Ancient Greek means “higher purpose”, which after all is what Telosa strives to achieve