(And what we can learn from this for regulating new technologies today)

One of the things that fascinates me the most about working in the tech industry is watching the progress of how innovation pushes out old systems and introduces new ones. While many times this can feel painfully slow to watch in real time (have you ever tried to access your own health records in more places than once?), I have to remind myself that any change process takes time.

Even when an innovation far outpaces any pre-existing norm (as is the case with blockchain technology) it seems that the world can’t move fast enough in deciding when and how to regulate this new system.

It’s a tricky balance. If any new innovation is over-regulated from the start, you run the risk of stymying innovation and driving out entrepreneurs who may otherwise be building the next big thing. If under-regulated, at least in the case of crypto, millions of people could get scammed and remove any potential for credibility in this space.

While I certainly don’t have answers to how this will play out in crypto, I spent some time last week teaching myself about the rollout of another complex, largely agreed-upon system — the driving rules of the road. I was curious to see if there was anything we could glean from how the transformative innovations of the auto industry impacted how we agreed upon basic signage, rules, and protocols that we still use today.

Here’s what I learned:

Here’s a peek at the first “motor wagon” in the U.S., invented by Charles and Frank Duryea back in 1893.

That’s right. The original stop signs of the world…were yellow.

Even as of 2009, there are differences state by state as to how street signs are regulated.

And so, to recap:

So is there anything to be learned from studying the evolution and ultimate adoption of the rules of the road? While this long process of adoption and regulation may seem insanely frustrating to watch in response to any new technology, I personally found some comfort is learning that, at the very least, this just seems to be par for the course. And any innovation and regulation we see taking place in tech today seems to be happening at a breakneck speed by comparison.

My original slides

P.S. I originally conceived this topic as a slide deck, so if you’d like to read through that too, here is “A Brief History of the Rules of the Road.” in Google Slides form.