It's really weird the way people argue how disastrous regulations are when their are clear examples of them being fine.
- California bans non-competes and it is essentially the fastest growing economy in the western world. But if you read WSJ banning non-competes is a disaster.
- SOX is supposedly a disaster, but when SPACSs bypass that process they are almost universally terrible. Also, the stock market and the VC business have both done great under SOX.
I think we don't realize how good the existing US regulatory framework is. If we try to improve it we should have a strong status quo bias.
- California bans non-competes and it is essentially the fastest growing economy in the western world. But if you read WSJ banning non-competes is a disaster.
- SOX is supposedly a disaster, but when SPACSs bypass that process they are almost universally terrible. Also, the stock market and the VC business have both done great under SOX.
I think we don't realize how good the existing US regulatory framework is. If we try to improve it we should have a strong status quo bias.