Technology is facing policy changes with global resonance, such as China’s new crackdown, the rising resistance to social media, and government’s desire to manage and control technological development.
“I’ll build a wall and we will be fine behind it.” This did not work for China’s First Emperor, and it will not work for its current one.
The tech crackdown, regardless of any good intentions, will bring disastrous consequences. Regardless of any good intentions, this will add friction, inefficiency, and underperformance to the most dynamic global industry. The best intentions usually bring disastrous consequences.