Exactly, regulation isn't a risk, that's their attempt to avoid their product becoming commoditised.

The risk for investors is they don't succeed in getting regulatory capture because without that they don't have a long term business model

I’m not convinced that regulatory capture really saves the day, either.

If we believe all the hype about programming efficiency, then regulatory capture in the US becomes just one more in a list of many steps the current administration has taken to chase software development jobs overseas.