Baptists are sucked in, Bootleggers win - Deepstash
Baptists are sucked in, Bootleggers win

Baptists are sucked in, Bootleggers win

History shows that the Baptists are naive ideologues, the Bootleggers are cynical operators, and so the result of reform movements like these is often that the Bootleggers get what they want – regulatory capture, insulation from competition, the formation of a cartel – and the Baptists are left wondering where their drive for social improvement went so wrong.

Example – banking reform after the 2008 global financial crisis. The Baptists told us that we needed new laws to break up the “too big to fail” banks. The Dodd-Frank Act was co-opted by big banks who are now even bigger.

23

186 reads

CURATED FROM

IDEAS CURATED BY

vladimir

Life-long learner. Passionate about leadership, entrepreneurship, philosophy, Buddhism & SF. Founder @deepstash.

Mark Andreessen packs so much in this rebuttal of AI doomerism. A pleasure to read.

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates