"Who is winning with the fiduciary rule?"

Tyler Cowen:

Remember the fiduciary rule, the one that “requires brokers to act in the best interests of savers and went into partial effect in June”?  Who could be opposed to such a thing?  But of course when a regulation sounds so very good, there is usually some other consideration around the corner, perhaps involving secondary consequences.  And, as some of us had predicted, it is not working out so well.

"The Streaming Problem: How Spammers, Superstars, and Tech Giants Gamed the Music Industry"

Interesting piece. But I'm an enthusiastic Spotify user and I have never encountered the issues mentioned. And I'd bet very few users have. Further, I'm not surprised: by training and experience I expect that after you design the rules for almost any interaction you can bet some folks will try to exploit those rules.