This story reminds me of a recent HN submission about a Brazilian entrepreneur whose business model was disrupting Visa.
The moral of both stories: industries that are old, set in their ways and ripe for disruption will use any means necessary to stifle innovation, from bribing (in poor countries with corrupt government institutions) to lobbying for artificially high barriers to entry (in advanced societies like Switzerland).
This story reminds me of a recent HN submission about a Brazilian entrepreneur whose business model was disrupting Visa.
The moral of both stories: industries that are old, set in their ways and ripe for disruption will use any means necessary to stifle innovation, from bribing (in poor countries with corrupt government institutions) to lobbying for artificially high barriers to entry (in advanced societies like Switzerland).