Regulation often leads to regulatory walls around businesses, protecting them from competing with innovative new solutions, leading to lower quality of life for all. How does your worldview discount for this?

In my experience "regulatory wall" is created by not refreshing regulations often enough, and by corruption and lobbying creating regulation with the sole purpose of limiting competition, instead of protecting the consumer. We need to lower the bar to get rid of bad regulation (making a vote issue?).

We should work towards minimizing the abuse of regulations (we will never be able to eliminate it) rather than be afraid of adding more regulations.