3 ms·
I meant to reference Block CEO Jack Dorsey in my comment. I'm pretty sure he knows the intended objectives behind AML regulations and so on. I doubt that he wou
by olalonde 4y ago
I meant to reference Block CEO Jack Dorsey in my comment. I'm pretty sure he knows the intended objectives behind AML regulations and so on. I doubt that he would go "oh! I didn't think about this" if someone were to explain their purpose to him. Plus, in case that was your point, Chesterton's Fence is about a lack of reasoning about the purpose of the rules, not a bad reasoning.
- kolbe 4y agoAt the Dorsey level, the "rule" could be something entirely different. The existing industry rule could be that human review is necessary to comply with AML laws. Dorsey thinks technology can take care of it while cutting costs, totally unaware of the decades and decades where existing money transfer businesses experimented with it, and saw how it didn't work.