>The FDA should really be called the IPA - Incumbent Protection Agency.
the Theranos story i think clearly shows one more time why such protection from "disruptors" is necessary. Unfortunately we still don't know how to do it more efficiently though.
My personal favorite here is FAA - who basically stalled to the complete halt the aircraft development for the last half of century, yet even here i understand the rationale behind it.
It wasn't the FAA. It was all the lawsuits that made the liability of general aviation airplanes completely unprofitable. Aircraft development is still going strong in other countries around the world.
the Theranos story i think clearly shows one more time why such protection from "disruptors" is necessary. Unfortunately we still don't know how to do it more efficiently though.
My personal favorite here is FAA - who basically stalled to the complete halt the aircraft development for the last half of century, yet even here i understand the rationale behind it.