Will the “Uber effect” kill innovation?
On Thursday, the Financial Times reported that “the Uber effect” is impacting new entrants in the ride-sharing business in London.
Apparently Transport for London (TfL) who regulates taxi licences in London has not been in touch with new entrants Via and Taxify since May, leaving their applications, and hence their business in limbo.
Is this “reverse disruption” when the lead disruptor (Uber) breaks the model so badly that the regulator takes a step back?
In my talk to the ICMIF Biennial Conference on Tuesday (watch in full at https://speaking.digital/icmif-2017-replay), I implored those in the room to involve the regulators early on in any innovative or disruptive moves.
The regulators of every industry need education as well so they can adapt to the needs of the industry and consumers.
Who in your industry is educating and enabling the regulators to respond positively to innovation and disruption?