.@pmarca on why crypto's regulatory environment failed innovators: "There's a specific degenerate form of government ca…
By a16z · Business
.@pmarca on why crypto's regulatory environment failed innovators: "There's a specific degenerate form of government called anarcho-tyranny... The anarcho part is you let the rule breakers go absolutely nuts. The tyranny part is you regulate or prosecute the good actors to death." "Startups outside the US went wild and did whatever they wanted, which led to FTX. Startups inside the US got brutally punished, with no route to safety, no route to a way to actually safely conduct business." "If…