Named by Inc. magazine as one of the 10 Best Business Books of 2018
Every startup wants to change the world. But the ones that truly make an impact know something the others don' how to make government and regulation work for them.
As startups use technology to shape the way we live, work, and learn, they're taking on challenges in sectors like healthcare, infrastructure, and education, where failure is far more consequential than a humorous chat with Siri or the wrong package on your doorstep. These startups inevitably have to face governments responsible for protecting citizens through regulation. Love it or hate it, we're entering the next era of the digital the Regulatory Era.
The big winners in this era--in terms of both impact and financial return--will need skills they won't teach you in business school or most startup how to scale a business in an industry deeply intertwined with government.
Here, for the first time, is the playbook on how to win the regulatory era. "Regulatory hacking" doesn't mean "cutting through red tape"; it's really about finding a creative, strategic approach to navigating complex markets.
Evan Burfield is the cofounder of 1776, a Washington, DC-based venture capital firm and incubator specializing in regulated industries. Burfield has coached startups on how to understand, adapt to, and influence government regulation. Now, in Regulatory Hacking, he draws on that expertise and real startup success stories to show you how to do the same. For instance, you'll learn how...
* AirBnB rallied a grassroots movement to vote No on San Francisco's Prop F, which would have restricted its business in the city.
* HopSkipDrive overcame safety concerns about its kids' ridesharing service by working with state government to build trust into its platform.
* 23andMe survived the FDA's order to stop selling its genetic testing kits by building trusted relationships with scientists who could influence the federal regulatory community.
Through fascinating case studies and interviews with startup founders, Burfield shows you how to build a compelling narrative for your startup, use it to build a grassroots movement to impact regulation, and develop influence to overcome entrenched relationships between incumbents and governments. These are just some of the tools in the book that you'll need to win the next frontier of innovation.
I was expecting a slightly targeted version of a “how to start a business” book, but this exceeded my expectations. The author provides plenty of background into the unique issues with starting a business that deals with government regulations. He begins by providing a kind of roadmap to identifying audience and influencers, and he refers to this initial research throughout the rest of the book. The business examples he includes range from those selling directly to government to those selling to other businesses in a highly regulated industry, including international examples. I found the focus on the role of influence in many aspects of selling in a regulated environment or to government to be valuable. By the way, the advice offered in this book is not just for startups – it looks especially useful for existing companies selling a product into a new, “regulated” market, as the example of Kidde carbon monoxide detectors in the book shows. Well done.
Regulatory Hacking: A Playbook for Startups by Evan Burfield is a easy to understand of how to walk thru the regulatory process. It was an interesting and gives a good explanation of the how and why,
It's one of the most fascinating books I've ever read.
This book is one of a kind. While there are numerous books that discuss business planning and the startup journey, Regulatory Hacking is unique in that it seamlessly transitions between the startup journey and the challenges of government regulations. It gives entrepreneurs a competitive advantage. It teaches us how to run a startup while leveraging the complexities of government to their highest potential.
Regulatory Hacking should be part of every entrepreneur's reading list.
I got this book in early 2020, and it sat in my office all through the pandemic. I finally brought it home with me and added it to the list. The approach to regulation and regulatory innovation that the author-a leading DC seed funder- takes is a valuable one. Think of it as a crash course in lobbying for startup founders who want to operate in regulated industries.
Effectively, it’s a heterodox proposition compared to most anti-regulation rhetoric: embracing regulation in certain markets and finding a methodical way to “hack” opportunities in them. The positive here is this book accepts that “regulation is and will be”. True enough. Not even a bad thing, honestly. So how to use it to innovate? The author co-founded a VC firm in DC, so not a surprise he’s willing to tackle regulated environments.
The author cites 5 trends that will enhance the next 20 years of digital innovation: 1) startups are diversifying beyond Silicon Valley; 2) the easy problems in tech have been solved (I’d say the same is true in tech policy!); 3) there’s backlash against big tech; 4) startups are solving problems that used to be the realm of government and civil society (not so sure about that); and 5) the tech of science fiction is becoming reality.
Perhaps the best addition this book makes to the field is describing how the “iron triangle” of mutually beneficial, self-reinforcing relationships can lead to regulatory capture and create grounds for disruption. However, it’s worth noting that some regulatory regimes are truly beneficial (think: air traffic control) and disruption might be counter to the public interest.
As always, using examples of successful implementation of the rules your business book proposes is fraught. Uber was already in the public doghouse when this was written, and that’s reflecte. Airbnb and Elon Musk were still media darlings in 2018; I wonder if the author would change his stance on them now?
Burfield covers how startups can navigate regulations in complex industires, or even use them as an advantage. Overall, I thought this was a solid overview. The best chapter with new learnings for me was about government procurement. My critique is that most of the content was just a slight tweak on normal startup tactics, so this would be an even better read for someone just entering entrepreneurship.