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I agree with this - in the recent discussion on Slate Star Codex about Thiel's views, the point was made that outsize success and profits are generally a sign o
by kybernetikos 8y ago
I agree with this - in the recent discussion on Slate Star Codex about Thiel's views, the point was made that outsize success and profits are generally a sign of lack of competition.
To me, after a reasonable period for them to capitalise on their innovation/higher quality execution, any company making huge profits in an area with few competitors should be subject to a range of measures designed to reduce barriers to entry to make it easier for new competitors to emerge.
Some natural ones would include rules about standards, providing apis, user portability, etc.
- barry-cotter 8y agoIndeed, we wouldn’t want to incentivise people to produce wealth and improve people’s lives. That way inequality lies.
- kybernetikos 8y agoNo actually. We do want to incentivise that behaviour, which is why I suggested a grace period for extracting the outsized profits. What we dont want to incentivise is regulatory capture, entrenched power, rent seeking behaviour.