UPDATE: among other items not killed in-vitro by the Gatekeepers, behold the awesomeness of SwirlyPan. (hat tip: Via Meadia)
The death of the Gatekeeper Culture and its unofficial caste system continues underneath the radar.
Now the NYT has realized that what we were describing last post (the democratization of capitalism under entities such as Kickstarter) threatens to severely undercut their bloated, byzantine behemoth of capital formation, whose regulations are written for (and frequently, given the revolving door between Goldman Sachs and federal agencies, BY) the big dogs in ways that specifically favor them.
Now their official rag is screaming “oh my god, this is doing to stocks and investment what e-publishing did to our shitty Big Six publishing houses!”
Of course, the gatekeepers hate this stuff. It threatens to undermine their guild. And like all guilds, their reason to exist is to restrict access to the game. Oh, you mean you didn’t go to Wharton or pick up an MBA from Chicago? Oh, well, never mind then, you’re clearly too stupid to invest. No, really, that’s the NYT take on why this is all a bad idea — the retail money (that’s you, sucker), will get eaten alive.
You’ll notice that these guys don’t seem to care if the retail money gets skinned alive on Wall Street. The “big swinging dicks” on Wall Street have been just desperately trying to get more retail investors (again, that’s you, sucker) to get back into an obviously rigged game which practically exists in order to fleece retail investors of their money, while the insiders play by their own rules and walk home with your money.
Sounds remarkably similar to the plaintive wail of the publishing houses: “if you spend your money on e-publishing, then anybody’s crap can get on the market, and you won’t like reading books any more.” As if the Big Six didn’t publish Fifty Shades of Crap, and pass it off as anything other than the trashy “romance” novel it is.
This is the song of the Gatekeeper, and the reason some cities make somebody go to school for two years just to paint other peoples’ nails. No, it’s not an absolute racket designed to line their own pockets. It’s a high-minded public service that we provide you sheeple, and don’t you forget it.
Except that like most situations where the business people and the people who write the regulations have the same necktie, the product sucks (and boy does American internet suck, as any internationally-playing gamer will tell you). But as long as people can connect with each other, the Masters of the Universe will eventually find that they’re Masters of a Box. Not a very attractive one, at that, and one which the public has long-ago abandoned.
But then, thinking out of the box has never really been a Gatekeeper’s strong suit.