Re: Regulations. . .
I think Sand Hill's approach was much like Uber et al.: try something new, ignore relevant regulations by claiming they don’t apply to what you're doing, and hope that by the time people decide the regulations do, in fact, apply, you're too successful to be shut down easily. A more cautious approach would have been to start by going to the regulators and trying to get a change in rules, or an exemption for what you want to do. Having Nobel-prize-winning economists saying it would help stabilize markets and prevent bubbles would certainly help with that.
Biting the hand that feeds IT
