January 27, 2013

TRANSPORTATION TRUSTBUSTER: Andy Kessler interviews the CEO of Uber, Travis Kalanick. Key bit:

“We don’t have to beg for forgiveness because we are legal,” he says. “But there’s been so much corruption and so much cronyism in the taxi industry and so much regulatory capture that if you ask for permission upfront for something that’s already legal, you’ll never get it. There’s no upside to them. . . . It’s anticompetitive behavior. If a CEO did that kind of stuff—-you’d be in jail.”

The joys of regulation.