Berlia: Large corporations lobby for regulation to block new competitors
Adi Berlia · Ep 59: Adi Berlia Explains India's Remarkable Rise Out of Socialism · Joe Lonsdale · May 24, 2023 · at 6:57
Adi Berlia, Indian entrepreneur and pro-chancellor of Apeejay Stya University, explains how incumbent firms leverage state capture and regulation to protect market share.
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“Once you reach a certain size, you are highly incentivized to stop new entrants from coming in. And the only way to do that, and particularly in a democracy, is to do state capture, is to work very closely with governments, parrot what they're saying, and then, you know, when you were coming up, there weren't regulations, or it, or at that time, you were saying, hey, this has to be free and open. But now, more regulation actually works in large companies' favor, because they have the money, the expertise, the people to get around those. It's the new entrants that are stuck. And I think that sort of creates this perverse incentive for even large corporations to actually get more regulated, to ask for more regulations, because it's, because the new entrants can't really come in. It's a big barrier to entry.”
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