Call it the billionaire tech-bro's dilemma. You can only buy so many mansions, jets and yachts, so what's next? Apparently, building your own city.

Venture capitalists want to build their own tech utopias, and have been cutting deals with governments, mainly in lesser economically developed countries, to start building luxury towers and golf courses in de-regulated zones where, in some cases, they get to decide what's legal.

It is "borne out of a dissatisfaction with the current political systems," according to Mark Lutter, founder of the non-profit Charter Cities Institute, a non-profit which seeks to "empower new cities with better governance to lift tens of millions of people out of poverty."