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Disruption. Begging for forgiveness instead of asking for permission. You can see it in many major players that got their start by going around regulations.
by gt2 8y ago
Disruption. Begging for forgiveness instead of asking for permission. You can see it in many major players that got their start by going around regulations.
Once you are onto something, the regulations can be satisfied by backers who see a business plan, cashflow from the side of the business, or perhaps new regulations will form around the new company's business model.
- sonnyblarney 8y agoNo. There is no way around this kind of regulation, and they definitely are not going to 'change their minds' once they see someone has broken it. They're going to put someone in jail.
- sh87 8y agoThat's too big a risk. Its just begging one phone call from a competitor to the authorities to wreak havoc on the startup. This strategy could work in yet uncharted territories (crypto comes to mind) but not in traditional systems like banks in this case.
- sincerely 8y agoThis works for stuff like uber and airbnb but will land you in jail if you try to do it in the financial or healthcare sectors
- Annatar 8y agoThe financial industry is highly regulated and it's a good old boys club; shenanigans like that don't fly and it would land one in jail faster than one could bat an eyelash.
- gt2 8y agoI actually was thinking more about going around regulations by building a solution which wouldn't be targeted by those regulations, in one way or another (outside jurisdiction or innovative product that does something in different way).