a16z podcast - the sharing economy & Arun Sundararajan

From a16z


https://soundcloud.com/a16z/sharing-economy





In this podcast Arun Sundararajan discusses the economics of the sharing economy and his views on regulation as they change from no regulation to self regulating industries.

EU Robot 'persons' proposed law

Reuters
http://in.reuters.com/article/europe-robotics-lawmaking-idINKCN0Z72CW

Europe's growing army of robot workers could be classed as "electronic persons" and their owners liable to paying social security for them if the European Union adopts a draft plan to address the realities of a new industrial revolution. Robots are being deployed in ever-greater numbers in factories and also taking on tasks such as personal care or surgery, raising fears over unemployment, wealth inequality and alienation.Their growing intelligence, pervasiveness and autonomy requires rethinking everything from taxation to legal liability, a draft European Parliament motion, dated May 31, suggests. Some robots are even taking on a human form. Visitors to the world's biggest travel show in March were greeted by a lifelike robot developed by Japan's Toshiba and were helped by another made by France's Aldebaran Robotics.

However, Germany's VDMA, which represents companies such as automation giant Siemens and robot maker Kuka, says the proposals are too complicated and too early. German robotics and automation turnover rose 7 percent to 12.2 billion euros ($13.8 billion) last year and the country is keen to keep its edge in the latest industrial technology. Kuka is the target of a takeover bid by China's Midea.

Regulating Energy Systems

Journal of Bioeconomics DOI 10.1007/s10818-016-9216-9

Redesigning a 20th century regulatory framework to deliver 21st century energy technology 
Tim Nelson

Abstract
Electricity systems are shifting from a once highly centralised regulated model to become more renewable, distributed and consumer-centric. Australia has some of the highest installation rates of embedded renewable electricity generation in the developed world. This has been driven by increasing grid-supplied energy prices, policy incentives and declining technology costs. The emergence of cost-effective distributed battery storage and energy management systems is likely to fundamentally alter the electricity industry—which has been largely unchanged for decades. Evolutionary economics indicates that firms must adapt to new technologies and market conditions or they will become extinct. Energy markets will only evolve, however, if regulatory frameworks continuously adapt to ensure that consumer preferences for reliability, control and environmental outcomes are able to be achieved at lowest cost. Most importantly, regulators will need to ensure that facilitating efficient consumer decision making is prioritised.

Mowat Centre work

Looking back at the Mowat centre, it some interesting work.

https://mowatcentre.ca/

Policymaking for the Sharing Economy

Beyond Whack-A-Mole

Feb 16 2015 https://mowatcentre.ca/policymaking-for-the-sharing-economy/

This report looks at the public policy questions raised by the sharing economy and makes recommendations on how governments should approach these new marketplaces.

Across the economy, informal and lightly-regulated marketplaces are emerging that directly connect individuals and small businesses. New technology platforms such as Uber, Airbnb and TaskRabbit are accelerating the advent of the “sharing economy” with rapid speed and massive scale. This report looks at the public policy questions raised by the sharing economy and makes recommendations on how governments should approach these new marketplaces.

Reprogramming Government for the Digital Era

Nov 11 2014 https://mowatcentre.ca/reprogramming-government-for-the-digital-era/

This Shifting Gears report explores the promise and perils of digital technologies for the core functions of governments.

The Shifting Gears series reviews the trends and challenges facing governments in delivering high-quality public services in times of fiscal constraint. Today’s public servants face a challenging operating environment. Governments are implementing ambitious reforms to service delivery models and administrative systems, while also undertaking short-term cost cutting and revenue raising measures. Yet this agenda also presents government with a significant opportunity to re-envision a public service for the 21st century. Transformative efforts—aimed at providing better quality services with fewer resources—are coalescing around a number of broad trends:

• the move to citizen-centred services re-designed around the needs of the end user. 

• the sharing of responsibility for policy development and service delivery with new partners from the private and not-for-profit sectors.

• the adoption of new digital technologies that lower transaction costs and respond to evolving citizen expectations of how to interact with government.

• the integration of operations both within and across government departments.

• the evaluation of services on the basis of outcomes rather than process or method.

Future State 2030

Nov 05 2013 https://mowatcentre.ca/future-state-2030/

The global megatrends shaping governments

This report outlines global megatrends facing world governments between today and 2030, and highlights necessary transformative changes and appropriate strategies required for successfully responding to these megatrends.

Foreword

Major global forces taking shape today will significantly impact the business landscape for the public and private sector through to 2030. While global megatrends have been documented on a macro scale, KPMG International wanted to delve more deeply into the implications for national governments and public sector policy makers and thus engaged the Mowat Centre at the School of Public Policy and Governance, University of Toronto, to conduct targeted research. What we found will help guide important conversations over the next few years.

The findings identify nine global megatrends that are most salient to the future of governments and their core responsibilities of economic prosperity, security, social cohesion and environmental sustainability. While their individual impacts will be far-reaching, the trends are highly interrelated. Therefore, governments will need to consider an evaluate their impacts both in isolation and in combination. We present possible options for governments to consider using the core tools available – policy, regulation and programs – as well as the strategies, structures and skills that future governments will need to have in place to achieve the characteristics of a ‘leading practice’ government in the future.

Fintech

UK initiates novel regulatory environment

http://techcitynews.com/2016/05/02/how-the-fcas-regulatory-sandbox-scheme-could-help-uk-fintech-startups/

Possibly the most eye-catching initiative, particularly for startups and, importantly, investors is the regulatory sandbox.

The sandbox has been formed to provide a safe environment for businesses to test their products.

For new entrants to the financial services market, the intention is that unauthorised businesses can use the sandbox to test products, services, business models and delivery without first needing to meet all of the normal regulatory requirements and incurring the considerable costs of putting in place the complex structures and processes to successfully apply for regulatory authorisation.

These firms will be granted limited authorisation for testing purposes. Consumers will not be left be exposed during the testing process. The FCA has suggested a number of safety measures ranging from informed consent through to the businesses in the sandbox providing a meaningful indemnity for losses.

Furthermore, the FCA will apply discretion in determining both the level of limited authorisation and the safety measures on a case-by-case basis rather than forcing a one-size-fits-all model.

 Meanwhile in Canada late in 2015 something similar was suggested in a Munk School report. No word yet on any implementation.

http://tfsa.ca/storage/reports/Current_State_Financial_Technology_Ecosystem_Toronto_Region.pdf

Findings in Canada

2. Despite encouraging signs, so far, Canadian financial institutions have not been as effective as their competitors in other international centres, like New York and London at developing strong partnerships with Fintech startups. Even where relationships between leading financial firms and local Fintech companies exist, they tend to be located at the margins of the financial institutions’ main operations, in incubators or accelerators. Furthermore, the individuals assigned by the banks to represent them in such incubators often lack the executive power to make the strategic decisions required to fully realize the potential of the relationship. The result is that Canadian Fintech companies developing products with the aim of becoming partners or suppliers to domestic financial institutions are at a significant disadvantage vis-à-vis their American and UK competitors. In short, one of the greatest potential advantages of the GTA, the concentration of leading financial institutions, is being significantly underutilized in growing the ecosystem.

5. Canadian financial regulations, considered by some as “best in kind,” are seen as a source of strength allowing Canada’s financial industry to develop a trusted and secure brand in comparison with their international competitors. However, with the rapid rise of Fintech, there is a growing and significant disconnect between the regulators and the latest technological advances. The result is that current regulations make it extremely difficult to undertake the low-level-rapid-experimentation that is necessary to develop safe, useful Fintech products. Even what are now considered to be basic Fintech offerings – such as crowd sourcing and loans – cannot be developed and offered in Canada with the participation of a licensed bank. Thus, what has traditionally been seen as a source of competitive advantage for the financial service sector, our regulatory system, is now seen by many to be an obstacle in the context of the evolving Fintech ecosystem. We believe that it is possible to turn our regulatory environment into an effective growth asset. If the financial sector in Toronto can brand Toronto as a Fintech centre that is safe and reliable, as well as flexible and innovative, it can create a powerful asset for the Fintech ecosystem.

Autonomous vehicles legislation coming to the UK

http://www.telegraph.co.uk/business/2016/05/18/bill-announced-in-queens-speech-will-help-britain-become-leader/

Britain’s car industry has welcomed a new Bill announced in the Queen's Speech that will help ensure the UK is in pole position in the development of self-driving vehicles.

The Queen said measures in the Modern Transport Bill would “ensure the UK is at forefront of technology for new forms of transport, including autonomous and electric vehicles”.
The Bill is intended to reduce red tape around new technology that will allow cars to be driven by on-board computers - so-called “autonomous driving” - and adapt the legal system to take into account issues such as insurance liability when a human is not in control.Nissan has said that from 2017 it will build its Qashqai SUVs equipped with self-driving technology at its giant Sunderland factory. Paul Willcox, the company’s European chairman, welcomed the plans in the Queen’s Speech.

 .... follow the link for more.

Crowd sourcing legal frameworks in Finland

Tanja Aitamurto and Hélène Landemore. Crowdsourced Deliberation: The Case of the Law on Off-Road Traffic in Finland. Article first published online: 27 APR 2016 DOI: 10.1002/poi3.115

This article examines the emergence of democratic deliberation in a crowdsourced law reform process. The empirical context of the study is a crowdsourced legislative reform in Finland, initiated by the Finnish government. The findings suggest that online exchanges in the crowdsourced process qualify as democratic deliberation according to the classical definition. We introduce the term “crowdsourced deliberation” to mean an open, asynchronous, depersonalized, and distributed kind of online deliberation occurring among self-selected participants in the context of an attempt by government or another organization to open up the policymaking or lawmaking process. The article helps to characterize the nature of crowdsourced policymaking and to understand its possibilities as a practice for implementing open government principles. We aim to make a contribution to the literature on crowdsourcing in policymaking, participatory and deliberative democracy and, specifically, the newly emerging subfield in deliberative democracy that focuses on “deliberative systems.”