Comment by echelon
1 year ago
> Maybe the people behind the stablecoin have an explosive collar welded around their neck. If the price drops, it detonates. That might work.
I hate crypto, but I love this idea. We should apply this to a lot of systems.
Make stakeholders of anything accountable. 100% skin in the game.
This is a Chesterton's fence situation - we already know the problems of HEAVY, punitive liability and accountability for everything.
But I do think we're leaning way too far towards the no-accountability side currently, and need to shift a bit further the other way.
(But I don't expect THAT to come out of a VC industry where so many prominent people and parters have track records that generally include a lot of "founded unprofitable company but kept it alive long enough to have a good exit" stories... This world lives on the perception of success, not on long-term responsibility.)
China sometimes does that. Zheng_Xiaoyu, the head of China's equivalent of the Food and Drug Administration, was caught taking bribes to allow tainted drugs to be sold. He was executed in 2007. [1]
[1] https://en.wikipedia.org/wiki/Zheng_Xiaoyu
Wow and only 40 days from sentencing to execution
Say what you want about the death penalty, but it is hard to feel sympathy for a person who, by approving dangerous pharmaceuticals after accepting bribes,
> caused the deaths of over 800 people in Panama from cough syrup that contained diethylene glycol in place of glycerin.
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A pity the USA couldn't do the same to Elizabeth Holmes.
Strongly deregulate nuclear power - on condition that CEO of company operating, designer, manufacturer CEO live with families within 15km of power plant.
(unlikely to work for several reasons, may be stupid idea but looks like something that could work in not-so-different world)