“Another example would be like in Arizona, they did a regulatory sandbox for FinTech a couple of years ago.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
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More from Maleka Momand
Insight
Momand: Agencies only revise rules for statutory changes or special interest outcry
“And the only reason they'll change the regulation is if the law changes their statutory authority or a really massive special interest, like throws a fit.”
Maleka MomandDec 22, 2021▶ 24:26How to Fix Dysfunctional Government with Esper CEO Maleka Momand · Joe Lonsdale
AssertionNot checkable as stated
Momand: Legislative Shift to Regulatory State Occurred in the 1980s and 1990s
“The shift in power to the regulatory state really happened in like the later 1900, like eighties, nineties where the legislature kind of gave away some of their power to these agencies and the agencies are now creating and enforcing regulations.”
Maleka MomandDec 22, 2021▶ 3:08How to Fix Dysfunctional Government with Esper CEO Maleka Momand · Joe Lonsdale
Insight
Momand: Regulatory reforms increase regulations by adding paperwork without process change
“The federal government has introduced a lot of regulatory reform during that time period, aimed at, like, keeping the number of regulations low, but because they haven't really changed process, they've just, like, added more paperwork and more people to it the…”
Maleka MomandDec 22, 2021▶ 6:41How to Fix Dysfunctional Government with Esper CEO Maleka Momand · Joe Lonsdale
AssertionSupported
Momand: Mercatus Center estimated regulations slow annual economic growth by 0.8%
“So this is a cool paper that came out a few years ago from the Mercatus Center. And basically it looked at the level of regulation, the cumulative cost of regulation from the 19 eighties to present day. And they estimated that, you know, the economy has slowed…”
Maleka MomandDec 22, 2021▶ 7:21How to Fix Dysfunctional Government with Esper CEO Maleka Momand · Joe Lonsdale
Opinion
Momand: Regulatory agencies do not know net trade-offs of stacked rules
“I don't know, and the agencies don't know. That's the issue. So right now regulatory agencies, they'll pass, you know, an occupational licensing regulation in 2000, and then they'll pass a new one in 2015, and a new one in 2020, and they begin to stack on top …”
Maleka MomandDec 22, 2021▶ 7:46How to Fix Dysfunctional Government with Esper CEO Maleka Momand · Joe Lonsdale
Insight
Momand: Bureaucracies Expand Because They Lack Dynamic Feedback
“Whereas the government is not getting dynamic feedback and it just continues to grow because they don't have any reason not to.”
Maleka MomandDec 22, 2021▶ 14:39How to Fix Dysfunctional Government with Esper CEO Maleka Momand · Joe Lonsdale
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