That feels like trading a problem for an even bigger problem. Everyone has greed but not everyone has competence. The world is in desperate need of more competence. Greed isn't necessarily a problem as long as it's regulated e.g., most people want nice stuff but don't burglarize their neighbors.
We all have conflicts of interest.
You want competence for strategically sound decisions to achieve a goal, but setting it should be done with input of people that have not been groomed that advertising is a human necessity.
You want people in government making long term strategic decisions that steer society. They should be listening to the will of the people as to what direction to steer it. I hope we can agree on that much.
I think people forget that "regulators" though are really just large organizations that enforce/interpret laws. The obvious example is the SEC; it has 4200 employees and none of them create laws, their rules are an effort to enforce the laws created by congress using their technical competence in finance.
> You want competence for strategically sound decisions to achieve a goal, but setting it should be done with input of people that have not been groomed that advertising is a human necessity.
That's the world we live in. Congress has been completely incompetent when it comes to regulating finance and I'd expect them to be even worse when it comes to technology.
There absolutely has to be a layer of industry specific competence (from "insiders") to make any sense of industry specific laws. I don't want insiders choosing direction though; I want congress to be less reprehensible idiots.