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If this is true, why do corporations lobby against regulation? Either they want more regulations to build this "moat", or they don't. If both outcomes result in a win for them, (deregulation vs moat-building by greater regulation) why spend money on lobbying?

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I think two things happen:

1. They say they are opposed to regulations publicly, but indicate they will "compromise" privately. 2. They lobby against some regulations and against others.

Here is an example of a business openly asking for more regulation: https://www.bbc.com/news/technology-51518773 I actually agree with some of his arguments, but I do not think his motives are exactly pure.

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