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Ignorance and Hubris at the FTC
- hga 16y agoFighter pilots have traditionally painted small flags or the like on the sides of their aircraft to commemorate the planes they shot down. I've long thought D.C. bureaucrats should do the same with their desks for the companies they've killed. One interesting and important point made in this essay---note that I'm paraphrasing and extending the thesis a bit---is that to the extent the FTC blindly stops Google from buying companies there will be that many fewer companies spawned, since M&A are about the only way most startups can cash out nowadays.