I am guessing (and apologies if I'm wrong) that you've not worked in finance else I don't think you wouldn't paint the entire industry with such a broad brush. I don't disagree with you that a lot of stupid, ignorant and misguided things happen in the industry, but in general, I find that the "Wall St is bad" rhetoric is easy to get wrapped up into because it is fashionable and easy to do.
But nevertheless, I'll go back to my original point. If the gov't thought that Facebook (or any startup) presented systemic risk, it'd likely get bailed out. I'll leave it at that.
On the topic of straw men, I don't think you'll find me saying anywhere that the financial industry is "stupid, ignorant, or misguided", nor did I say that "wall street is bad". I'm not painting the people in the industry with any kind of brush at all. You make it sound like I'm kicking a puppy.
I believe that there's a systemic problem with the industry and its role in society and that it is damaging our future prosperity.
Yes, any sufficiently powerful institution could, in principle pose such a problem, but why distract ourselves with imaginary problems when we have a real one sitting in front of us?
But nevertheless, I'll go back to my original point. If the gov't thought that Facebook (or any startup) presented systemic risk, it'd likely get bailed out. I'll leave it at that.