<
https://lpeproject.org/blog/why-we-need-to-stop-subsidizing-venture-capitalists/>
"For many readers of this blog, Uber represents a cautionary tale. While the
company attributed its initial success to cutting-edge technology—such as
dynamic pricing, matching algorithms, real-time data—subsequent analysis has
demonstrated that its growth was largely driven by ignoring, breaking, and then
bending taxi regulations to suit its business model.
For companies in the fintech sector, however, Uber’s approach represented a
blueprint to follow. From lending to payments to stock trading to crypto,
prominent fintech businesses have found a competitive edge not in technology
itself, but in using narratives about technology as a smokescreen for the
profitable arbitrage of financial regulations. This modus operandi is
encouraged by Silicon Valley’s venture capitalists, who decide which businesses
to fund and often provide advice, gin up hype, and lobby for the businesses
they’ve chosen. Our society continues to shower VCs with public subsidies, but
as I argue in this brief post, if regulatory arbitrage is what we’re getting
from Silicon Valley’s VCs in exchange, it’s well past time to reconsider this
relationship."
Via Molly White’s
[citation needed] Issue 90 – Crime szn bro
https://www.citationneeded.news/issue-90/
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
