With any downturn in the economy, there are always new rules and regulations that are discussed or passed to prevent the previous calamity from occurring again. The same is true for this latest downturn with a variety of efforts and attention being shown to the banking and mortgage industries.
Now attention is also being shown to the venture capitalists. This is not necessary. Nothing in this current downturn can have VC activity pointed to as the cause. In fact, VCs are fairly well self-regulated by the activity of the stock market and they take a sizeable set-back when the tech bubble bursts (most notably in the early part of this decade).
No VC is too big to fail and no VC has a huge majority of the market. It simply doesn’t make sense to overly regulate this industry when so much of what we enjoy on a regular basis is the result of VC activity (nearly the entire IT industry including the technology that makes this blog possible and your ability to read it).
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Bill Maher is a relatively famous television personality. Of course, he got this position by correctly realizing that he wasn’t a very good standup comedian and his real talent was getting famous people on TV and then making fun of them or using them as foils to make a political point. He has bounced around a couple of different venues and has currently landed at HBO. His show is called “Real Time with Bill Maher”. He has used this notoriety and fame to also publish some of his remarks and is a frequent contributor to Huffington Post. His latest article is the subject of this post.
Originally, I only wanted to reply to Bill Maher in his comments section. However, Huffington Post limits comments to a small number of words so I am forced to make further comments here. You can read my original thoughts at this link as there are currently over 2500 comments on this article and it would be difficult to find mine. You may also want to read Bill’s original article before you read my comments.
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