Coinbase CEO Brian Armstrong: Over-restriction is a major killer of innovation
Coinbase CEO Brian Armstrong stated that being blinded by hypothetical downsides is one of the biggest killers of innovation, citing the de facto ban on nuclear power with the establishment of the Nuclear Regulatory Commission as an example. He argued that if nuclear power plants had continued to be built, there would be a modern, robust electric grid and much higher economic growth today. Armstrong highlighted how well-intentioned systems often have unintended consequences, detailing how things fail due to asymmetric error costs, processes acting as vetoes, worst-case models being treated as fact, and rules written for past accidents being applied to future designs. He emphasized the importance of continuing progress for future generations.
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