to summarize: regulatory capture is an existential threat to the American economy, and any regulation that restricts a silicon valley firm is prima facie regulatory capture.
I, too, am alarmed by the changes in campaign funding we have seen in the last 20 years. The author applies his alarm narrowly to problems in his private equity portfolio. I do not share his alarm on that particular topic.
By and large, I prefer to live in a world with taxi and hotel regulation, even if it impairs the ability of some bay area millionaires to add to their fortunes. Not all regulation is a sign of regulatory capture. Not all lobbying is intrinsically bad. Not every improvement in efficiency improves outcomes for society.
I, too, am alarmed by the changes in campaign funding we have seen in the last 20 years. The author applies his alarm narrowly to problems in his private equity portfolio. I do not share his alarm on that particular topic.
By and large, I prefer to live in a world with taxi and hotel regulation, even if it impairs the ability of some bay area millionaires to add to their fortunes. Not all regulation is a sign of regulatory capture. Not all lobbying is intrinsically bad. Not every improvement in efficiency improves outcomes for society.