I agree completly "Regulation does the exact opposite of opening up the market to competition and innovation" I think you can compare this to little kids, when parents keep prohibiting and over caring about everything, instead of teaching their sons to be independent and confident they only make them weak and scared or all the way around they become rebels and drop out of school jajaja something like that!! I guess what I mean is that the more regulations to things to more people want to do the opposite!!
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Its all about power and monetization.