If there were less regulations you wouldn’t need to be a bank to do what a bank does. That was my point. Why so t we see the level of innovation we have in web

If there were less regulations you wouldn’t need to be a bank to do what a bank does. That was my point. Why so t we see the level of innovation we have in web in the financial sector? Operating a fintech company requires as much legal compliance as it does code and this protects incumbents and lets them extract rent from our society. The GP seems to be saying “let’s regulate these rent seekers.” I’m saying “let’s stop paying rents in the first place.”