In fact I suspect the net effect of regulation is actually greater when the regulations aren’t well-defined, because it stops people from trying. It’s awfully difficult to build around something that doesn’t have clear precedent, which is almost everything interesting
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The risk there is company-ending, and causes an odd scenario: well established companies are unwilling to take such risks, which leaves only newer and more relatively shady companies doing those things
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I think we’re seeing this to some degree in ICOs. Legit companies aren’t going to act without precedent and existing case law from the SEC, so we’re left with new companies and sheisters hawking 99% bullshit, to the point that almost everyone says “ya just shut out down”
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Interestingly some of the most impressive startups I see nowadays are entering heavily regulated spaces. There’s such an enormous moat when you make it through that it’s worth a shot, but it takes a founder willing to spend 80% of effort dealing w regulators and 20% w tech
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It may be to some degree that all the easy stuff has been done, but in my YC group at least 50% of the companies we’re going up against serious regulatory risk; the kind that’s difficult to define, understand, prepare for, or hedge against
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Replying to @AustenAllred
Great. The regulations are working. It’s really not up to two kids with a laptop plus a sugar daddy to decide for society that a regulation is no longer needed.
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Replying to @JimYoull
The only person coming off as more of an arrogant prick than me right now is you. If you don’t think regulation that’s not carefully passed can hinder innovation literally everyone disagrees with you including regulators. That’s not even controversial.
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Replying to @AustenAllred
Never said that. I will continue to say, until you find valid examples, that citing Uber and AirBNB as examples of successes is not backing your arguments in the least. They’ve done tremendous harm to the commons and to people’s lives due to the lack of regulation.
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Replying to @AustenAllred
for whom? Uber: MILLIONS of extra vehicle miles driven; psgrs diverted from transit; cycling in SF is now a death match AirBNB: thousands of residents permanently displaced; entire buildings turned into illegal hotels. The end does not justify the means.
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Oh boy, we’re just going to have to agree to disagree on this one. Disregard that point and read the rest.
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