Comment by bigyabai
6 hours ago
> for example the big companies are lobbying for regulation on AI to help cement their position at the top
And pray tell, how did that work out? It didn't. The worst of it came from OpenAI snatching up long-term federal contracts, but it's not illegal or anticompetitive to waste taxpayer money on debt-encumbered AI outfits. You're citing an example that works against your broader point.
> doesn't mean that it's possible to sustain a monopoly position for a significant amount of time.
> Unlike other competitive activities there isn't a time clock with winners declared at the end.
Neither the SEC nor the FTC has ever argued either of these points to my knowledge. Maybe this is true for other economies, but not America.
> Economists have shown that absent of external cofounders
We don't live in a world absent of confounding factors. Simple cartel logic is enough to loophole around this little theory: https://en.wikipedia.org/wiki/Cartel
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I personally don't take offense at people who prefer anarchist economics. But you have to understand that your opinion about regulation is not shared by even the most hardcore conservative politicians. US courts have proven that it is possible to hold an indefinite monopoly and incur billable damages onto the market, hurting consumers and competitors alike.
Mmm, if you read about cartel prices you'll see that it's inherently unstable since there is incentive for any one member of the cartel to cheat, driving down prices. That isn't a loophole around the theories around monopoly pricing. What tends to confound are government laws and regulations, like IP law for example.
Re. OpenAI et al, they actually work with the US government to help shape the regulatory landscape, and interestingly enough since Google jumped out ahead they are now pushing for a lighter model. I imagine Google is pushing for heavier regulation since that tends to be their M.O.
Also I don't have anarchist economics - anarchists don't believe in property rights or markets, and they certainly don't understand economics. And I certainly don't put any stock in what right leaning American politicians or their courts think or say.