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by loceng
1945 days ago
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Regulatory evasion and/or regulatory capture - I never thought about it being called evasion but it certainly fits: get big enough with a large amount of the population now depending/relying/using the service, and then it causes a problem for policy makers - who aren't skilled or knowledgable enough to understand the intricacies of the business models in order to safely adjust policy to benefit society, society more than the profits of the business anyhow - that business who is lobbying and manipulating regulators as well to get policy to fit their needs, and coining the narrative for the users who benefit from the lack of regulations as well (e.g. Airbnb hosts who side-step worrying or dealing about the externalities on society of rents going up further due to higher pressure and less supply). |
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