Re:StreetLend.com shuts down, citing GDPR regulations
by Silhouette on Monday April 30, 2018 @11:51PM
(#16964464)
If there's demand for said service, then there will be some new enterprising individual who will try to provide it at a profit.
It apparently wasn't running at a profit even before these new overheads. It was essentially being provided as a gift to the community by the person running it, and that person is not prepared to accept what he perceives to be a lot of extra risk just for doing people a favour. Why then is it reasonable to assume that someone else will step in and be willing to provide the same benefit to others despite the additional overheads?
The level of risk and profit is going to adjust to the correct balance over time.
Again, why should we make such a strong assumption in general? Previous ill-judged regulation of tech industries by the EU hasn't gotten any better with time. They still haven't fixed the "cookie law", which must be on the short list for most useless and widely ridiculed law in history! More seriously, they still haven't fixed the VAT mess, which finished too many microbusinesses and caused significant damage to many more slightly larger ones.
It apparently wasn't running at a profit even before these new overheads. It was essentially being provided as a gift to the community by the person running it, and that person is not prepared to accept what he perceives to be a lot of extra risk just for doing people a favour. Why then is it reasonable to assume that someone else will step in and be willing to provide the same benefit to others despite the additional overheads?
The level of risk and profit is going to adjust to the correct balance over time.
Again, why should we make such a strong assumption in general? Previous ill-judged regulation of tech industries by the EU hasn't gotten any better with time. They still haven't fixed the "cookie law", which must be on the short list for most useless and widely ridiculed law in history! More seriously, they still haven't fixed the VAT mess, which finished too many microbusinesses and caused significant damage to many more slightly larger ones.