[enaaem]

The issue with that is that there’s often no adequate compensation for damages done. Individuals can get extraordinary rewards for high risk behaviour and positive tail outcomes but there is a limit how much you can take from them in case of a catastrophic (societal) outcome. Regulation is really the only way manage this asymmetry.

[tracker1]

"Regulation" is what created those limits... Of course, the true limit being, the loss of their wordly posessions and assets, and possible jail time for anti-trust action. Lack of regulation defaults to common law, which is as much as possible restoring those harmed by those responsible.