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You're applying broad, long-term, and high-level reasoning to motivations that are more likely short-term and driven by simplistic incentives. Begging for regu
by randusername 4mo ago
You're applying broad, long-term, and high-level reasoning to motivations that are more likely short-term and driven by simplistic incentives.
Begging for regulation (and input into precisely what that regulation is) relieves competition, consolidating dependency among the established players, and spreads a very effective fear narrative that what these companies are doing will change everything and therefore they are worthy of mind-boggling capex and valuations.
We have to quit seeing humanist visionaries where the evidence shows businessmen with access to the best strategy and PR counsel around.
- Nevermark 4mo agoExcept everything is happening in the "short" time frame. That is the point. We are at an unusual time, where companies might "hype", but it is unlikely their hype is actually overshooting near-term reality.