I disagree. Finance is a good example. The core regulated parts of finance like retail and commercial banking are pretty good. Costs are low, they’ve gotten more efficient, services are uniform and poor performers get purged.

The issues with finance are on the edges and areas where there are really a small number of industry players. They have an outsized impact and the worst practices are usually skirting the regulatory framework.

The Airbnb argument isn’t regulatory capture example - the issue there is that it’s impossible to build anything. You have to build a giant hotel to justify the overhead of building anything hotel. Airbnb fills a gap of creative reuse and provides a tax shelter for rich people.