Luca Ferrari

I'm always frustrated with our societies.

There's too much regulation.

We're really working on the wrong stuff at the institutional level.

People try to create economic growth and prosperity through more rules, just telling you, yeah, if we tell them exactly where to go with lots of rules, surely we'll be prosperous.

They don't understand that it's quite the opposite.

You got to get out of the way and create as free and open a playground as you can

We keep adding rules.

Elon Musk once said something that I thought was brilliant, and I fully subscribe to it.

He said, we should have a rule that every new law is automatically removed, say, three years later, unless someone can make a really good case that's created a lot of value.

So we wouldn't have 10,000, 1,000 page long civil codes or whatever.

We're basically trying to prevent

rare corner cases, unpleasant, sometimes tragic corner cases, while making 99.99% of the normal cases less efficient, more painful, some utterly impossible.

But because they're not as newsworthy, because they're typically widespread and normal, those inefficiencies are not as interesting to talk about.

In aggregate, they're just a massive tragedy, a much bigger tragedy than the one individual tragedy of one corner case.

Ultimately,

When it comes to regulation, the corner case wins and we regulate it away, but we make life much worse for everybody else 99% of the time.

This frustrates me because I think we're just shooting ourselves in the foot as society, essentially.

Varies by period a lot.

So for example, if when we close a large transaction, I'm often there with a task force in the trenches meeting the new team and for weeks or even months, sometimes that will take up 50% of my time or 70% of my time.

If we're working on a big fundraise, we just raised the largest debt round of any private company in Italy in history.