Friedberg says Silicon Valley felt attacked under Biden and realized government could restrict business operations.
“And under the Biden years, I think is when Silicon Valley really felt like it came under attack.”
Friedberg says Silicon Valley felt attacked under Biden, waking up to government's influence on business operations.
“And Silicon Valley kind of woke up to the fact that the government can play an outsized role in influencing, affecting how we might be able to operate and do business.”
Friedberg says autonomous vehicles reduce fatalities by 95% per million miles but single crashes shut down entire programs.
“for every million miles, autonomous vehicles reduce fatalities by, like, ninety five percent. But if there's one autonomous vehicle that crashes once, everyone shuts that entire program down and says, wait a second.”
Friedberg recounts how one gene therapy death in the late 1990s halted all such treatments for seven years.
“And when he died, they put a stop on gene therapy treatments for I think seven years. They weren't allowed to do any more gene therapy treatments.”
Friedberg says one gene therapy death led to a seven-year halt despite dozens of life-saving therapies now available.
“They weren't allowed to do any more gene therapy treatments. And since then we now have literally dozens of gene therapy treatments that can cure dozens of human diseases saving millions of lives.”
Friedberg interprets the $70 million FINRA fine on Robinhood as industry self-regulation to prevent government intervention.
“I feel like the the Robinhood fine the FINRA fine of $70,000,000, was a good red herring for what's gonna happen in this industry which is that the big financial services firms wanna participate in this market and they don't want regulators coming in and reregulating the market.”
Friedberg argues the $70 million Robinhood fine was meant to prevent broader regulatory intervention in fintech.
“They they see the opportunity in the same way that the startups do. And FINRA is a self regulatory organization.”
Friedberg argues FINRA's $70 million fine was sized to keep the SEC from regulating digital financial services.
“And, you know, putting that $70,000,000 fine on Robinhood was a big enough fine to say, you know what? We don't want the SEC coming in.”
Friedberg explains FINRA's $70 million fine was designed to keep the SEC from imposing stricter regulations.
“putting that $70,000,000 fine on Robinhood was a big enough fine to say, you know what? We don't want the SEC coming in.”