4 ms·
This has actually been a common pattern in the industrial revolution: 1. Invent new technology that revolutionizes society (e.g. railroad, telephone, software)
by indigochill 3y ago
This has actually been a common pattern in the industrial revolution:
1. Invent new technology that revolutionizes society (e.g. railroad, telephone, software)
2. Quickly amass a fortune exploiting this new technology.
3. Use a portion of that fortune to lobby for industry regulation under the guise of concern for customers which just so happens to also raise the ladder and make it harder for startups to disrupt the incumbents, thus securing their fortune.
That said, even with the cynical take, I find it hard not to be in favor of regulation (assuming it's done well, which has been a bit hit and miss over the years). A lot of software has potentially severe liabilities and it's time companies took responsibility for those instead of shifting them onto customers.
- dotnet00 3y agoYeah, I can relate with that cynical take, I suppose the more accurate way to put it would be that good regulation is way past overdue for software.
- phoehne 3y agoIt does create moats where non existed before. I do think the government over-estimates how well and up to date it keeps its standards. I don't know if it's still true, but 8 years ago (2015), you had to submit documentation to the FDA on CDROM. No. You couldn't just upload it.