2019-09-28 Disruption

@bgcarlisle wrote On techbros in healthcare and medical research about “disrupting an industry” and summarized it as follows:

For future reference, whenever a techbro talks about “disrupting an industry,” they mean: “replicating an already existing industry, but subsidizing it heavily with venture capital, and externalizing its costs at the expense of the public or potential workers by circumventing consumer-, worker- or public-protection laws in order to hopefully undercut the competition long enough to bring about regulatory capture.”

I mean, I don’t mind people taking venture capital again and again and finally failings. That’s ok. What I am troubled by is when they go so much venture capital that they get the power to hurt innocents. The medallion system for taxis might have been corrupt, but do we really need to drive all the taxi drivers out of business to make that point? To then get a monopoly and enjoy rentier capitalism? That is a failure state! This is not what I want.



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