If competition is good then the antithesis of that is regulation is bad,
but now we are going into these platforms that amass a great amount of data and can
price efficiently. Might there also be an opportunity for smarter
regulation. So rather than having competition good, regulation
bad, maybe some of the old forms of regulation may be bad but might this open up to new forms
of regulation where you might engage in dynamic pricing and the like.
And I can just give one quick example. San Francisco now is experimenting with parking
metres and rather than having one fixed price and you are driving around San Francisco looking
for the right parking meter, using the sensors and data that it collects
it can now have variable pricing based on how frequent, how
occupied a particular area is. So if there are fewer parking spaces in a
particular region the prices go up. If there are a lot of underutilizing parking
spaces the pricing goes down. And you get an app to see where the available
parking spaces are. So San Francisco discovered from its smart
technology numerous benefits including environmental benefits, less pollution.
Also saving time for users trying to find a parking space and less congestion as a result
as drivers are circling around the city. So might there be an opportunity for smarter
regulation and we can have smarter competition as well.