Alex recently lost his life savings, all because of bureaucrats.
In 2017, Alex created a company that offers cost-sharing for car repairs. He’s an automotive technician and saw first-hand how warranty companies can sometimes avoid paying claims to customers. It was an innovative approach to an industry that was rife with corruption.
Alex approached the Insurance Department to double-check he was clear to create this new “insurance-like” service, and they didn’t have an issue with it.
So, he launched the company and had no problems for more than a year. His customers were happy and business was thriving.
But then the Insurance Department approached him and said he was violating the insurance laws and had to shut down. He had already invested his family’s life savings — $250,000 — into this business. He didn’t have money for lawyers or lobbyists.
He lost it all.
I founded Libertas Institute ten years ago to help people by changing the law to limit the government. So, that’s what our team got together to do — to help all the future entrepreneurs like Alex whose innovative business ideas should be welcomed, not punished.
And wow, did we succeed.
Our team put together a proposal for what’s called a “regulatory sandbox.” In a nutshell, it means that business owners can get a law or regulation that is preventing them from launching an innovative product, service, or business model suspended for a couple of years.
That’s a big deal. All across the country, there are antiquated laws that protect existing businesses from their competitors. We’ve seen it with taxis and Uber, hotels and Airbnb, restaurants versus food trucks, and more.
But now, with this new law we passed — the first of its kind in the entire country — people like Alex can hit the pause button on these outdated laws while they continue to develop their business. (And then the Legislature can play catch up to update the law and allow the new type of business.)
If you think entrepreneurs like Alex shouldn’t need to kiss the ring of bureaucrats, then we’d love your help to get this innovative law even more attention across the country.
We were nominated for the “Biggest Win for Freedom” award! And we’re one of three finalists. But to win the award, we need your vote. We would love your help to receive this recognition and help bring attention to this first-in-the-nation law. It takes just a few quick seconds to vote for Libertas Institute.
Simply click here and to vote, click the very last option next to Libertas Institute. Super easy, super quick.
But taking the time to do this will help bring much-needed awareness to this game-changing law we got passed. So we’re thankful for your help.
Thanks for your support and for voting for us!