> “Environmental regulations are, in my view, largely terrible,” he said at an event with the libertarian Cato Institute last year. “You have to get permission in advance, as opposed to, say, paying a penalty if you do something wrong, which I think would be much more effective.” This quote is particularly telling of a billionaire's mindset when the fines are too small to matter.
The truth is somewhere in the middle. Many regulations are terrible and serve as a huge hindrance to innovation, and effectively restrict certain things to only the already-massively-rich entrepreneurs. However, (IMHO) there are a lot of regulations that are important and absolutely should be enforced up front. Finding the right balance is kind of impossible, and I don't want to throw the baby out with the bathwater,…
Because "Innovation" isn't the be-all-end-all of a regulation or shouldn't be one of its aims or concerns. As a hyperbole, I don't care about "innovation" if you need to throw 4000 people into an industrial shredder in order to do it.