Joost CEO on Net Neutrality and Adam Smith

Ex Cisco wonderboy turned video startup CEO, Mike Volpi, posted to the Joost company blog a couple days ago discussing how Adam Smith versus Vint Cerf would right that pesky Net Neutrality debacle. He starts with a quote from Wealth of Nations on "consumption as the sole and end purpose to production" and goes on to echo the anthem of most digital libertarians.

The challenge with creating competition in the broadband market is that building a national network (with any technology – wired or wireless) requires a lot of capital – capital that is not so available in these economically challenged times. The two existing broadband networks – built with telephone wires or coaxial cables – both received governmental help in their creation – one through taxpayer dollars (Ma Bell) and the other through franchise rights that were granted to cable operators.

The answer is to figure out how to encourage the investment dollars and reduce the capital requirements for building the third and fourth major broadband networks.

My favorite part is Cerf's comment and Volpi's reply at the bottom of the post.