“People should have the right to experiment, to try new forms of business, new ways of applying technology to satisfy people’s needs. And that’s what Uber has done. Unfortunately…now we have it that you’ve got to get permission from government to do about anything. So the rate of innovation has been slowed and stifled.”
In my new interview with Charles Koch, Chairman and CEO of Koch Industries and author of “Good Profit,” Charles explains the importance of “permissionless innovation.” The sharing economy and startups like Uber have been a boon to the economy over the past several years. Essential to their success is the ability to experiment, innovate, and develop a product without being stifled by regulations, taxes, and the long arm of the government. Charles explains why free and open markets are essential to allowing permissionless innovation to flourish while over-regulation stifles productivity and the launch of new startups. If more of our elected officials understood the concepts Charles lays out in this episode our economic productivity and innovation would skyrocket.