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Regulation will only hurt new startups and will probably assure the position of big techs since only big tech can handle the overhead of regulation (lobbyists,
by streetcat1 7y ago
Regulation will only hurt new startups and will probably assure the position of big techs since only big tech can handle the overhead of regulation (lobbyists, lawyers, CPA, audits reports, etc).
So I would expect to see big tech actually push for regulation.
However, startups and the tech industry, in general, should push AGAINST regulation, as it would freeze the natural progression of tech, where the new replace the old.
- notlukesky 7y agoSundar Pichai has been actively calling for regulations on AI and facial recognition to crowd out potential competition and startups. They know that regulations will create barriers to entry and openly welcome it now that they are at scale. Just like banking rules like KYC and AML were barriers to entry and the cost was borne by the unbanked and underbanked; and competition that could not be created to take on the incumbents. Karl Popper warned that the enemies of open societies included BIG companies that tried to limit competition through regulatory capture and their armies of lobbyists.