A dictatorship gives one person the ability to cause a singular big sadness. So they're no good. He touts the extreme federalism of Switzerland. Small, local g

A dictatorship gives one person the ability to cause a singular big sadness. So they're no good. He touts the extreme federalism of Switzerland. Small, local governments which can only affect and are only responsible for their immediate constituent Concentration of power => concentration of fail points => fragile to catastrophic events. Distribution of power => distribution of fail points => majority of system will survive catastrophes. Or, in VC speak: single investment in single start-up => fund will not survive a failure. Many small investments in many start-ups => 75% fail, 10% break even, 10% make 2-3x, 5% return 10x