Even a stopped clock, etc. Progressives win by manipulating procedural outcomes. Less regulation = more fragmentation, procedural outcomes are harder to manipulate.
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Replying to @apex_simmaps @rhizostigmata and
I think wisdom here is to admit it’s not clear whether social media alternatives fail to arise because of standard monopoly, network externalities, conspiracy against replacements (eg by payment processors), regulatory burden on small cos., or something else entirely
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Replying to @QuasLacrimas @rhizostigmata and
Frankly most of these companies are losing money and sustain their existence as VC hobby projects, subsidized propaganda mouthpieces, and conduits for securities fraud. Possibly there isn’t a true economic reason for lack of competition at all
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Replying to @apex_simmaps @QuasLacrimas and
VC has value because it funnels money to the correct players and cuts money off from badpeople but it also has real, actual value. Knowing how to structure a business so that people can cooperate to create value and solving all the problems inherent there is hugely valuable.
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Intertwined issues - hot money has to go somewhere so VC is a nice place to inject it. Some investors are in the market for a lottery ticket with a negative return but a chance for a massive one - like when the VC fund you invested in backed the next twitter.
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