The idea he is trying to say is similar to old school investors in which the the prices continue to be hiked up in order to afford people who are willing to bri

The idea he is trying to say is similar to old school investors in which the the prices continue to be hiked up in order to afford people who are willing to bribe / lobby to reduce the possibility for disruption. I think there’s a UC Santa Barbara talk by Charlie Munger on this pricing power.