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Lindsay Graham and Mark Zuckerberg colluding together in favor of regulatory capture. Graham asks Zuckerberg if he would kindly offer some regulatory suggestion
by cmurf 9y ago
Lindsay Graham and Mark Zuckerberg colluding together in favor of regulatory capture. Graham asks Zuckerberg if he would kindly offer some regulatory suggestions to the committee. And Zuckerberg gleefully responds in the affirmative.
Yeah, great idea. The regulated become the authors of the regulations. What could possibly go wrong with that.
- dudzik 9y ago“GRAHAM: […] So would you work with us in terms of what regulations you think are necessary in your industry? ZUCKERBERG: Absolutely. GRAHAM: OK. Would you submit to us some proposed regulations? ZUCKERBERG: Yes. And I’ll have my team follow up with you so, that way, we can have this discussion across the different categories where I think that this discussion needs to happen.”[0] If facebook manages to introduce regulation that requires expensive processes it could stifle competition and increase their moat. There was a planet money episode on that topic[1] 0: https://www.washingtonpost.com/news/the-switch/wp/2018/04/10/transcript-of-mark-zuckerbergs-senate-hearing/ https://www.washingtonpost.com/news/the-switch/wp/2018/04/10... 1: https://www.npr.org/templates/transcript/transcript.php?storyId=592376568 https://www.npr.org/templates/transcript/transcript.php?stor...