one of the memories that most makes me feel like an enormous schmuck is it being 1995 and i'm founding a dumbass mom-and-pop ISP with my wife and mother-in-law and telling them how badly the market needs something that is, in every significant regard, PayPal
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my mother-in-law tells me that operating like such an organization would have to makes it a bank, which imposes enormous regulatory burdens and up-front costs that only a major player could possibly take on. i'm like, "oh, well, that sucks, guess i can't do that then"
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whereas Elon Musk and Peter Thiel who were presumably told the same things apparently said "lol yolo", ignored every legal requirement and now have the money to do things like conceptual art projects using SSTO boosters and funding vast right-wing media fungus farms for giggles
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the moral of the story is, when you know in your gut what the market *really needs*, don't let anything so stupid and biddable as the law daunt you
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Thiel says there's no way PayPal could have been created in the post 9/11 regulatory environment.
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