In many ways, Facebook pioneered the modern startup ethos: “move fast and break things,” a mantra that’s defined many entrepreneurial ambitions for nearly two decades.
When applied to coding and creative endeavors, this idea can produce compelling results. But there are limits. As the Theranos trial has illustrated, there’s a need for oversight sometimes, and that’s particularly true in the sectors in which we most need innovation. Regulations govern significant parts of the US economy as everything from transportation and hospitality to healthcare and energy are protected by established oversight standards.