One of the things that fascinates me about silicon valley is that there's this very clear playbook that goes along the lines of: We're going to 'disrupt' X indu

One of the things that fascinates me about silicon valley is that there's this very clear playbook that goes along the lines of: We're going to 'disrupt' X industry with technology. And disrupt often has a veneer of technological progress, but really is primarily just regulatory arbitrage. Paypal: We're going to be a bank, but we're not going to adhere to banking regulations. Crypto: We're going to be a stock exchange, but we're not going to adhere to SEC regulations. Uber: We're going to be a taxi company, but we're going to ignore all local taxi regulations. Uber/Doordash/Gig economy: We're going to employ people, but we're going to ignore employment law. Not only is it interesting that this keeps happening, and successfully. But we're like 25 years down the line since Paypal started, and Paypal is still acting in ways that you wouldn't expect a bank/payment processor to be allowed to behave by regulators. Like, if I were a regulator I would seriously be considering just going through Uber's behaviour since the company started and prosecuting every single violation they committed. Let's see how well that business model holds up. It's not good enough to say "Oh we're all billionaires now and we floated on the stock exchange so I guess now we'll think about abiding by the law".