An ecosystem is a self regulatory and dynamic struture. give reasons.
Answers
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The rise of the business was meteoric—a recent $1.2 billion round of financing valued Uber at over $40 billion,2 more than Avis and Hertz combined.3 And the pain was felt immediately by the medallion taxi companies and rental car services that were subject to the disruption. But Uber caused headaches for another group, as well: the regulators tasked with setting and enforcing the rules of business to protect the public’s interest. The new transportation solution wasn’t exactly a common carrier like a taxi service. Should it be treated as one under the law?
Similar confusion is spreading across the business landscape today, as once-clear industries dissolve into complex ecosystems full of unfamiliar entities and innovative offerings. Regulators, whose job has always been to protect the public from danger, exploitation, or insufficient competition in reasonably stable markets, now face another danger: that their own application of old rules to new realities might suppress innovations of tremendous potential value to the public. In a gathering trend, some are adopting new philosophies and tactics, and finding effective ways to strike the right balance.