Joe Lonsdale

There's probably some rules there that's fair too.

So I think there's basic things you could do for sure.

And there's some compromise.

But I think right now, the vast majority of regulations in this country, like there's 9 million words per state, Sean, of regulations, 9 million words per state.

The vast majority is big companies stopping small companies and stopping new innovative companies from disrupting their business more efficiently.

Like, that is what regulation mostly does.

Let's be honest, right?

And here's the crazy thing.

Like, one term of regulation is licenses.

You need licenses to do things.

So there's a thousand different types of things you might need a license to do.

There's only 50 of them that you need a license in every state to do.

So right away from the start, 95% of the things that they force licenses for is clearly just protecting their guild because it's perfectly safe to do without a license in another state.

So most of this stuff is guilds and big companies creating regulations to stop others.

And healthcare, by the way, that's exactly what it is.

Healthcare costs so much money because we put so many rules that you can't compete.

It's literally crazy amount of rules.

You have to spend tens of millions of dollars just to get going and you can't even do a new thing because they've blocked all the new stuff you could do.

So like our country, areas where we have high costs, where everyone suffers, where the middle class, where the working class suffers is the areas where these guys have put in thousands and tens of thousands of rules.

And by the way, that's like good for guys like me.