One defining characteristic of fraud, which is a primary way by which they are detected, is that they make assertions about their actions but those actions do not cause the ripples in the world that a legitimate business would. This is checkable, often surprisingly easily.https://twitter.com/staffordphilip/status/1402913235397922817 …
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This is true, and an I think underappreciated consequence is that it makes it harder for compliant entities to compete. Regulators need to figure out how to handle the YOLO bullshit or it crowds out everything else.
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Whole world* C.f. 2017-2021
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The same applies culturally and politically. Musk and Trump are great examples. Systems are set up to correct relatively small deviations, but those are useless if the person who's supposed to be regulated just says "No, I won't follow those rules"
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