Earlier quoted context omitted.
This just isn’t consistent with the empirical evidence whatsoever. An overwhelming amount of economic analysis shows that the burden of regulation disproportionately falls on small business. That doesn’t necessarily mean that there aren’t other justifications for any given regulation. But ain’t no small business owner or entrepreneur in history ever said “Boy! All these regulations sure are making my life easy”
Yeah, we never see examples of small teams disrupting large markets with entrenched competitors. I'm afraid with taxi medallion regulations, we'll never see any competition in that space.
Instead, they offered a nearly identical service (arranged via app rather than hailing streetside) and skirted around all of the regulations that had kept the incumbents entrenched for so long.