Regulators = Typically Slow to Adapt to New Technologies Back in the Day When Horseless Carriage (Car) Came Along... Locomotive Act of 1865 – Jitneys (1914) Red Flag Act Ride-Sharing, ~100 Years Ago... Law Enacted in UK... 150K Jitney Rides / Day (1915) in LA, yet Horseless Carriages (Cars) Had to be Regulated Out of Existence by 1919... Preceded By Someone with Red Flag For Safety Purposes 157K Uber Rides / Day (2016) in LA... Source: Encyclopaedia Brittanica, dailybritain.wordpress.com, Travis Kalanick (Uber) TED Talk (3/16), Michigan State University Library, William B. Friedricks, “Henry E. Huntington and the Creation of Southern California,” Columbus, OH: Ohio State University Press, 1992 KPCB INTERNET TRENDS 2016 | PAGE 149