The industrial revolution of the 19th century was humming along as titans of steel, energy and railroads staged intramural battles for market supremacy unencumbered by government regulation. Monopolies developed and workers where stomped. The response to out-of-control heavy industry was anti-trust and child labor law and unions.
Today we are seeing the end of the laissez faire digital revolution. Pushed by ad fraud and hate speech the IAB and Mark Zuckerberg are calling for a combination of voluntary and government rule-making to bring under control the forces of this generation’s unbound revolution.
It’s the way it has to work. New industry has to be left alone to grow in its beginning. But, after a period of years, it will over step and it will always get ugly before the forces of restraint step in. Now is the time for our revolution to be reined in. The hope is that we reach a balance between voluntary discipline and government regs without tipping toward over-regulation. Source: Bidwin analysis