That being said, look at how the government and regulators approach the tech industry: Words like "open," "distributed," "inter-operable," which have not just technical but philosophical meanings in the tech industry have no meaning to lawmakers or regulators. That's precisely because there's no revolving door bringing people with these perspectives from the industry into the government, where they can shape policy.
There's no particularly good solution to regulation, and I'm not convinced our status quo is worse than the alternatives. Most people do not believe you can achieve societal goals in a free-market without regulation. So you have some sort of regulation, and the question becomes: who are the regulators? A professional class of bureaucrats well-insulated from industries, or a class of practitioner-bureaucrats that move fluidly from industry to government and back? There's good and bad that comes with both options.