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Bureaucracy is, among other things, Someone Else's Moat. As in, Title Search and Title Insurance could be treated as a Public Good and administered by a govern
by csours 2y ago
Bureaucracy is, among other things, Someone Else's Moat.
As in, Title Search and Title Insurance could be treated as a Public Good and administered by a government entity (shock, horror!).
But people are making a lot of money off of it, so there is a bureaucratic moat.
- travoc 2y agoOne of the reasons the title insurance market exists is because governments can’t even reliably record title events in a timely manner. Putting them in charge of risk management would only make it worse.