> The problems come from regulation itself.

The problems also come from improperly regulated businesses, operating in the 3rd stage of encrapification where they stifle innovation that threaten their *opoly and the choke-hold they have on their captured regulators.

Every ideology and system is fundamentally flawed.

Worse, zealots (of said I/S) compulsively refuse to recognize that their own house needs cleaning. And they not only don't clean, they'll savagely attack anyone who attempts to do the needed cleaning (improve the ideology by addressing it's flaws).

No One Anywhere Will Clean Their Own House is an absolute human constant, right between death and taxes.

Regulation is the result of politics, and politics is the result (in democracies) of the inputs of every person in society. Dismissing regulation, or in Thiel's formulation, conflating regulators with the antichrist is therefore anti-democratic and anti-people. The anti-regulation side of SV, which comes from the libertarian / Randian utopia, is one of its least appealing and most ignorant aspects.

Regulation is usually the result of some industry way overdoing bad stuff.

Libertarianism is selfishness inoculated from the human condition

There's always regulation. The choice is between self-serving regulation by a few lucky assholes or regulation by society for the society.

If you let the tobacco industry self-regulate, smoking ads would still be legal, and there would be no ban on selling cigarettes to kids.

This is the situation in IT.

And certainly, upstarts and social challenges to incumbent tobacconists would be met with regulations.

... in his opinion.