1/ Gold visas: a new market catalyst for financing undiscovered talent

Investing @variant, writing at https://backoftheenvelope.substack.com/

2/ Seems there are three main options for financing:

a) Person buys the visa themselves, ie has $5M to spend
b) Company finances the visa
c) Markets emerge to finance the purchase of a visa

3/ Option A is the least interesting for new market creation

If someone can buy the visa themselves, it means they're likely already a known talent (or have the relevant connections)

4/ B is a little more interesting

If a company is willing to spend $5M on an employee, it means they're likely a known talent - but that there's a competitive market for that skill

Would imagine this financing will happen most often at exec levels

6/ To me, it would make a lot of sense to build these markets onchain

It's easier (and lower friction) to aggregate large amounts of capital

plus

A geographically diverse base of financiers may be better suited to spot global talent than a set of investors sitting in SF or NYC

5/ C is the most interesting

Consider a 21yo who wants to move the US and build a new company. I could see crowdfund-esque markets emerge to finance the purchase of these visas, with may some compensation in return (eg share of future earnings, equity in the startup, etc)