Ignoring the fancy drawings, this is not necessarily such an outlandish project. The main idea is buying a surplus cruise ship and transforming it into office space for highly paid workers who can get a tourist visa but not a work visa for the US. Simply the work certification costs and the delays involved in obtaining H1Bs for all those people would probably offset a good deal of the cruise ship's price. The workers can conduct activities they are not directly paid for (presentations, informal meetings) on shore in the Valley, and commute to do all their programming/other directly paid jobs on board.

Unfortunately, it will not work, because the first politician who will see a potential for voter outrage about this will exploit it to bring the whole thing down, either by causing the shut down of the ship-to-shore infrastructure, by digging up / stretching some obscure tenets of immigration law to penalize the workers, or simply by having the Coast Guard overstep its attributions and seize the entire operation (which is usually how micronations end). The project is thus doomed without some high-grade political support, and no sane US politician will offer any.