Looking at existing regulations gives an innovative company an opportunity to understand what they're trying to accomplish. It might be to protect consumers, support some industry or union that provided extensive support to a group of politicians, or something else. To ignore the intent is to intentionally close your eyes and pretend all is well. It might be.
B.C. government raises damage reporting threshold for motor vehicle collisions | CTV News
It might not. The intent may be something that seems reasonable or not.
But studiously avoiding the implication of your actions to better have your own way every time isn't healthy, or ultimately good for business. It can take years for the regulatory world to catch up. When it finally does, however, it can be vengeful. The EU has slapped Google with billions of dollars in fines. The company can pay it out of profits, of course, but what an unholy level of waste that is.
Or with Facebook, where the issue is reportedly a criminal investigation and the resulting almost 8 percent in share price drop within four days.
Alberta traffic collision statistics
It's recovered somewhat--so far. But the pressure from the government, from investors, from business partners, and from employees will keep going. Plus, how do you look your kid in the eye when he or she asks whether you're a crook?
Recently I said that the tech industry had to end its bro culture. Apparently it needs to do something far deeper. The opinions expressed here by Inc.
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Ship owners to pay U.S. government for Fitzgerald collision
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