Part 4/14:
Musk laments that modern innovation is hamstrung by increasing regulation and bureaucratic creep. He highlights that laws and regulations tend to accumulate annually, stifling entrepreneurs and making it difficult to operate or innovate freely. He calls for a systematic "garbage collection" of outdated laws—a metaphor for regulatory cleanup—to foster a more dynamic environment for startups.
He also discusses the phenomenon of companies migrating to countries with more favorable regulatory environments, such as Singapore, illustrating that avoidance of burdensome laws has become a strategy rather than an exception. Musk points out that states like California and New York are increasingly regulated, prompting firms to seek refuge elsewhere.