Gurley argues the most regulated US industries like finance, telecom, and healthcare become the least capitalistic.
“what happens is capitalism and democracy evolve over time, especially in The US federal system. The most regulated industries become the ones that are least capitalistic. And so finance, telecom, healthcare are completely,”
Gurley argues democracy and capitalism are separate systems that will kill each other if given enough time.
“I have a very strong belief that democracy and capitalism will kill each other if you give them enough time. And they're separate things.”
Gurley says the most regulated industries like finance, telecom, and healthcare become the least capitalistic due to regulatory capture.
“The most regulated industries become the ones that are least capitalistic. And so finance, telecom, healthcare are completely, you know, notion of regulatory capture.”
Gurley argues invisible hand capitalism with hyper competition is actively happening in China despite communist label.
“So I think the thing that a lot of people in Silicon Valley love about capitalism is this notion of the invisible hand and competition that leads to innovation and best practice, and the winners rise up and they're better for it. That is happening there.”
Gurley states capitalism and democracy corrupt each other over time through prolonged commingling.
“capitalism and democracy corrupt each other over time. Like at the starting state, everything's fine. But as they get to commingle for a really, really, really long period of time”
Gurley argues capitalism and democracy corrupt each other over time, with most broken industries being most regulated.
“No, I think it's gotten worse over time. I made up this statement once that capitalism and democracy corrupt each other over time. Like at the starting state, everything's fine.”
Gurley states capitalism and democracy corrupt each other over time as they commingle.
“I made up this statement once that capitalism and democracy corrupt each other over time. Like at the starting state, everything's fine.”