Why is it hard to start a bank or hospital?
Why is it so hard to start a bank? This is like a random question, but why aren't people or wealthy entrepreneurs founding banks, hospitals, colleges, etc?
I know this sounds like an obvious question, but even people like Elon tried starting one and it failed, if he couldn't do it, how did banks like Chase, Wells Fargo, HBSU, etc do it? Is it that they have to borrow from the UN? (Where does the highest person in the chain also get their money?)
Jeff Bezos might have the money for it, but he doesn't do it. If I'm not mistaken USA has like 3000 billionaires, but how many own banks?
Why aren't they also founding hospitals then if banks have too many regulations? Everyone is founding AI tech we don't need, where is the actual advancing technology & institutions?