That’s how the grift economy works; you take something illegal, give it a different name, and pretend it’s something new and unregulated. The trick is to undercut all competitors with investor capital and put them out of business as quickly as possible. That way, by the time regulators try to pass laws against you, argue that you’re “essential to the economy” now that you’re the only one who operates in that sector.
Uber - No, we’re not an illegal cab company, we’re a “ride share service”
Air B&B - No, we’re not an illegal hotel chain, we’re landlords who sign one-day leases.
Kashi - No, we’re not an illegal casino, this is a “prediction market”
Earn In - No, we’re not an illegal lender, we’re letting you access your future wages, today
Klarna - No, we’re not an illegal credit card company, we just let you pay in four installments
