Regulatory decisions surrounding the ridesharing industry are of critical importance to the Victorian economy because they will set a precedent for the disruptive potential of the sharing economy more broadly.
The most general principle underpinning our submission is the idea of ‘permissionless innovation’.
That is, we believe a quality regulatory system, one that deals well with disruptive technologies and business models, is one that enables innovation by default.
In contrast, a permissioned system is one where unnecessary red tape is applied that stifles the potential for entrepreneurs to bring benefits to consumers.
Further, we must remain wary of erecting any regulatory barriers today that will prevent the emergence of new business models tomorrow.
It should be a guiding principle that any definitions and new regulations, if they are enacted, should be broad enough so that it does not exclude new organisational and technological forms which may later emerge.