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I am going to add given that revolving doors and golden parachutes much of the C-level experiences, actual consequence is often something that many of the highe
by Klinky 6y ago
I am going to add given that revolving doors and golden parachutes much of the C-level experiences, actual consequence is often something that many of the highest paid people in the world evade with ease. You can drive a company in to the ground and/or sexually harass employees, and still walk off with millions of dollars. At least with public servants, their position can potentially be term limited and subjected to a vote.
Constrained markets are not always or even regularly the fault of regulators. There may just be few options or only one option available, and the cost of entry to the market is extremely high. It's not just a matter of some plucky startup entering the market when the incumbent can bleed money for a a year or two to kill off any competition in that area, then jack up rates. You also have collusion issues, which often occurs in the oil industry and DRAM/flash memory markets, and even in places like pre-made ice markets. A startup may not just have to be better than the immediate competition, they may have to be better than an entire cartel set on destroying them, which is very difficult and anti-consumer. Imagine going up against Microsoft and Intel in the 90s, who literally had billions of dollars at their disposal to turn the market against you, and actively did so.
- eru 6y agoI agree with you that relying on startups alone is not enough. Hence my heavy emphasis on foreign competition entering local markets; and of cross-industry competition. Like Walmart entering retail banking. Microsoft and Intel are excellent examples! They were eventually toppled in their dominance, but it took quite a few years. My argument is essentially that toppling Microsoft and Intel in about a decade is all we can hope for; and that it is enough. Adding extra regulation mostly just gives the guys with the more expensive lawyers and lobbyists more tools.