Marina Lao: Director of Office of Policy Planning — U.S. Federal Trade Commission


I thought what was most interesting about the conversation this morning

was how the views of the different countries were relatively similar.

We all agree that regulation of disruptive new models are very important.

But we have to regulate wisely. We have to regulate smartly.

What we want to aim for is a regulatory framework that is going to allow the new technologies,

the new business models to flourish and to develop to their full potential,

while not eroding appropriate consumer protections. The nature of competition, I do not really

think it is changing so much as it goes through ebbs and flows and we are

at the time where we are having drastic changes. So when Joseph Schumpeter talked about creative

destruction I think we are at that period where the changes

are fast. They are not incremental changes but they

are fast changes. But this has happened in history.

If you think about the supermarket revolution in the 1920s and 1930s where you had

the supermarkets replaced mom and pops so I think there is a flow to it

and we are at the flow where we have a lot of innovation right now. Massive innovation.

Video length: 1 minute, 39 seconds

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