alt Hacker News>If it's not publicly traded, it's super secure from any public accountability.
Under the existing legal and regulatory model, yes.
But what abusing that model long-term will eventually result in government-level change that effectively bans the existence of such exploits, wide-spread vigilantism, and/or some sort of collapse.
Replies
WarOnPrivacy • last Monday at 4:47 AM
> But what abusing that model long-term will eventually result in government-level change that effectively bans the existence of such exploits
After a couple of generations watching my government become increasingly captured by the lobbyists funding elections - I'm fairly skeptical that your optimistic assertion will come to pass.
Doubly so now that capture is rapidly accelerating into a hostile, fascist takeover.
> what abusing that model long-term will eventually result in government-level change that effectively bans the existence of such exploits, wide-spread vigilantism, and/or some sort of collapse
The endpoint of vigilantism and collapse is more economic opacity. Not less.
My personal view is companies with more than any of 1,000 employees, $10mm revenue or a $100mm valuation should have to file a simple annual disclosure showing the cap table ad balance sheet, a simple P/L, list of >5% beneficial owners and their auditor. But the path to that is through legislation in a complex, stable society.