Rules and regulations often tend to lag behind the emergence of new industries, products, and services. Whether it be autonomous vehicles, drones, food delivery services, or any other market innovation, the law is frequently playing catch up. This is because innovation, by its nature, is something new that challenges the status quo. As a result, regulations often do not address the innovation in question or are hurriedly introduced after the fact. More often than not, these regulations are poorly designed, shaped by the input of competitors and critics, and are harmful to innovation.
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