This is the Cato Daily Podcast for Thursday, October 13, 2022.

I'm Caleb Brown.

The state of Utah took on an audacious experiment a few years ago,

the regulatory sandbox.

A way for new businesses to get up and running without so many

government permission slips normally required, and then get that all-important feedback on

how it's gone.

Connor Boyac with the Labertus Institute says it's worth

emulating. We checked in on the progress of the state's regulatory

sandbox last month. I feel like a lot of the conversations that I'm having in Atlanta this week are about

pandemic recovery and Utah is such an interesting state because it's a state where sometimes really good policy

gets adopted seemingly out of nowhere.

And the regulatory sandbox I think is one of those things where it

solve it speaks directly to a lot of problems with regulation generally.

So if you wouldn't mind, walk us through

what this, what it actually functionally means

for businesses and would be not just entrepreneurs but would be

entrepreneurs in Utah. Well it's fun this this wasn't so much ex-Nihilo

coming out of nowhere this This was actually grew out of State Policy Network. You and I are talking at the State Policy Network Conference and they put together an event a few years ago to bring together groups like ours to talk about some innovative ideas and we raised our hand

we're like hey we got an idea out of that meeting grew this this project and we got the law passed first in the country and

it's spreading like wildfire. A regulatory sandbox is basically

a legal safe space for an entrepreneur or a big company who wants to be shielded from a

...