Subramanyam: ‘Many’ Regulations End Up Squashing Small Companies, They Don’t Have Compliance Resources of Big Companies

On Tuesday’s broadcast of NewsNation’s “The Hill,” Rep. Suhas Subramanyam (D-VA) said that “There are so many well-intentioned laws in place that were meant for the big companies, but they applied to the tiny companies. And, as a result, the tiny companies couldn’t grow.” And “Places like Google, they have tons of lawyers, they have tons of regulatory specialists, but a small startup doesn’t have those same resources.”

Subramanyam said, “I’ve worked with tech startups, for instance, and what I’d see is a good idea go awry because there were so many regulations in place. There are so many well-intentioned laws in place that were meant for the big companies, but they applied to the tiny companies. And, as a result, the tiny companies couldn’t grow.”

He added, “Well, when it comes to things like AI, there [are] going to be some regulations. But what I’m trying to say is when we are thinking about how to protect consumers or to promote safety, let’s not forget the challenges that a small business goes through, right? And let’s not go overboard, assuming that every company has the same resources to jump through the regulatory hoops. Places like Google, they have tons of lawyers, they have tons of regulatory specialists, but a small startup doesn’t have those same resources. So, let’s make sure that those small startups can still succeed without getting drowned in regulation.”

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