Investor, Entrepreneur, Philanthropist, Educator & Board Director, Chief Imagination Officer
Regulatory oversight can provide short-term stability and protection, but if not carefully planned, it can often stifle innovation. The SEC's regulation of #ICOs in 2018 is a prime example. The increased regulatory burden and uncertainty led to many ICOs excluding US investors and positioning themselves as foreign offerings to avoid SEC jurisdiction. This shift limited access to capital for US-based early-stage startups and created new challenges for companies seeking to raise funds through ICOs. Most importantly, the lack of clear guidance made startups hesitant to explore new financing models, fearing regulatory repercussions. It's ironic that a #gambler can lose their house in minutes in #Vegas without the same level of scrutiny and regulation on #casinos! And kudos to Office of California Governor Gavin Newsom for not getting too excited or bowing to pressure! If the government wants to be part of innovation, they should offer grants and non-dilutive funds to startups, just like #Europe and #Canada do with - SR&ED Tax Incentive Program - AgriScience - NRC-IRAP - EU Grants for Digital Health and Technology Startups - IIA Investment Programs and many more! This way, they can keep an eye on startups and disruptive solutions as they submit their progress each year to qualify for more funding. Let's support our startups the right way! #InnovationBeforeRegulation #AI PBS KQED NPR BBC CNN
Costanoa Partner | Board Member | Author of LOVED | SVPG Partner | Lecturer | Speaker | Former Marketing Exec & Product Leader | AI-curious
Figuring out reasonable AI guardrails is going to be very hard but important work. And while reasonable minds can disagree on whether or not California AI safety bill SB1047 was the right first step, when something becomes law, it forces us to confront the limitations of the regulatory environment and adapt. It also sends a message about what's important. I applaud Teri Olle, all the tech bros, scientists, academics, and legislators who fought to create something that would work for all sides. I hope this is just the beginning of some really important work that affects us all. Link to story in comment. #siliconvalley #startups #venturecapital
I agree
Ex-Google product and engineering leader with expertise in driving adoption and scaling across multiple Google products such as Google Cloud, Google Maps, Android, and Assistant.
1moI agree that more thoroughness and input is probably needed here. MLCommons has been doing some great work through an open forum of experts (academics, industry players, and other policy thinkers) for establishing these standards. Perhaps they could be a good conduit for the administration on these matters!