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Agree. SEC trying to "protect" people disincentivizes personal diligence. There is a broader societal problem here. Think fake news. People have been conditione
by kajumix 6y ago
Agree. SEC trying to "protect" people disincentivizes personal diligence. There is a broader societal problem here. Think fake news. People have been conditioned to the existence of gatekeepers everywhere, relieving them from any personal responsibility. Didn't Theranos got (or appear to get) an FDA approval [1] resulting in many "accredited" investors making huge dumb investments in that company?
[1]: https://www.nbcbayarea.com/news/local/biden-to-visits-bay-area-discusses-health-care/1976885/ https://www.nbcbayarea.com/news/local/biden-to-visits-bay-ar...
- nullc 6y agoThe wave after wave of ICO scam, where it's extremely clear that there is no one looking out from anyone doesn't make a clear case for there existing much/any risk compensation behaviour here. People expect other people to just be basically honest because in most of our interactions -- at least in the developed world-- they are.
- octoberfranklin 6y agoI expect other people to just be basically dishonest because in most of my interactions -- at least during the 15 years I spent in Silicon Valley -- they were.