Tech will end up exactly the same way finance is (if it isn’t already there). Employees will work for the regulatory enforcement agency for around five years on shit pay learning how the system works from the inside and making contacts in the industry before leaving and being ushered into a tech firm with a nice six figure salary. Meanwhile, no regulations will really get enforced apart from the odd token case against a big company so the agency can continue to justify its existence and funding. The fine against the big company will be a complete drop in the ocean and will have already been accounted for well in advance by said company as a natural cost of doing business. No-one will go to prison for any wrong doing unless it’s a fraud case where someone’s tried to cheat the company and the regulators for their own individual gain in which case there’ll be made an example of to ensure all the other players stay in line and don’t rock the apple cart. Repeat until the end of the time.
Any attempts to appoint new leadership to reform the existing corrupt agencies will most likely end up being sabotaged from within by bureaucrats who gain from the system remaining dysfunctional. The only two ways you can effectively change it are:
- setting up complete new ‘start up’ agencies and appointing people to wind down and distract the power players in the existing ones.
- going full nuclear like Elon just did at Twitter and firing the majority of the workforce