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90 S. Cal. L. Rev. 383 (2016-2017)
Regulatory Entrepreneurship

handle is hein.journals/scal90 and id is 427 raw text is: REGULATORY ENTREPRENEURSHIP ELIZABETH POLLMAN* & JORDAN M. BARRYf ABSTRACT This Article examines what we term regulatory entrepreneurship- pursuing a line of business in which changing the law is a significant part of the business plan. Regulatory entrepreneurship is not new, but it has become increasingly salient in recent years as companies from Airbnb to Tesla, and from DraftKings to Uber, have become agents of legal change. We document the tactics that companies have employed, including operating in legal gray areas, growing too big to ban, and mobilizing users for political support. Further, we theorize the business and law- related factors that foster regulatory entrepreneurship. Well-funded, scalable, and highly connected startup businesses with mass appeal have advantages, especially when they target state and local laws and litigate them in the political sphere instead of in court. Finally, we predict that regulatory entrepreneurship will increase, driven by significant state and local policy issues, strong institutional support for startup companies, and continued technological progress that facilitates * Professor of Law, Loyola Law School, Los Angeles. t Professor of Law, University of San Diego School of Law. We thank Emily Keifer, Jay Bryan Barney, Andrew Coan, Dov Fox, Stavros Gadinis, Victor Fleischer, Michael Kang, Frank Partnoy, Sabeel Rahman, Ted Sichelman, Gordon Smith, Mila Sohoni, Daniel Sokol, Steven Davidoff Solomon, Manuel Utset, Cynthia Williams, Yesha Yadav, and the participants at the Law and Entrepreneurship Association Retreat, the U.C. Berkeley Law, Economics, and Business Workshop, the American Law and Economics Association Annual Meeting at Harvard Law School, the Seventh Annual Conference on Internet Commerce and Innovation at the Searle Center on Law, Regulation, and Economic Growth, Northwestern Pritzker School of Law, the National Business Law Scholars Conference at The University of Chicago Law School, the Junior Business Law Conference at the University of Colorado Law School, the Emerging Markets Finance Conference hosted by Vanderbilt Law School and the Indira Gandhi Institute of Development Research, the Association of American Law Schools Annual Meeting, and faculty workshops at Emory University School of Law, University of Arizona James E. Rogers College of Law, and UCLA School of Law. 383

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