Do you expect to ever end the arms race of finding loopholes vs closing them? What would this look like? I don't believe it's possible. You can't fight bad act

Do you expect to ever end the arms race of finding loopholes vs closing them? What would this look like? I don't believe it's possible. You can't fight bad actors by hoping they'll just somehow lose. The unregulated "more competition" market quickly turns into a "less competition" market as the most ruthless parties establish dominance through whatever means necessary. Your barriers to entry, in the extreme case, become things like physical intimidation.