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In fact, it's not regulating user content at all — it's regulating the business activity of the hosting platform itself," City Attorney spokesperson Matt Dorsey said.
In a related development, California has become the first state to take steps toward regulating the business practices of group purchasing organizations.
There is already some competition in generation; last year the Federal Energy Regulatory Commission (FERC), the main federal agency regulating the business, made the utilities give generating firms fair access to their power lines so that they might sell on their electricity to other utilities and wholesalers.
Unfortunately, the two most popular ideas — requiring companies to disclose the source code to their algorithms and explain how they make decisions — would cause more harm than good by regulating the business models and the inner workings of the algorithms of companies using AI, rather than holding these companies accountable for outcomes.
"It's regulating the business activity of the hosting platform itself.
One possible solution is working with the state legislature to move the ridesharing industry under its own chapter of the law, which would avoid regulating the business under antiquated rules.
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The government is taking a political risk by trying to regulate the business – a move not supported by most voters.
The effort was unsuccessful; the S.E.C. still regulates the business though parts of it will also most likely fall under the new consumer bureau.
Selling the stuff commercially will become legal next year, once the state authorities have hammered out a set of rules to regulate the business.
New York State has regulated the business of ticket reselling since the 1920s, requiring brokers to be licensed and to keep records of purchases and sales.
Once tightly compartmentalised and regulated, the business of managing this money is now being fought for.The management of Japan's pensions worth ¥170 trillion $1.4 trillionn) and rising is a particularly striking example.
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