We could do something called the American Equity Fund. The American Equity Fund would be capitalized by taxing companies above a certain valuation 2.5% of their market value each year, payable in shares transferred to the fund, and by taxing 2.5% of the value of all privately-held land, payable in dollars.
Paul Graham: This may not just be a problem with Google but possibly also the recipe for beating Google. A startup usually has to start with a niche market. Why not try writing a search engine specifically for some category dominated by SEO spam?