There is a fundamental problem with regulators. If a regulator agrees to change a rule and something bad happens, they could easily lose their career. Whereas if they change a rule and something good happens, they dont even get a reward. So, its very asymmetric. Its then very easy to understand why regulators resist changing the rules. Its because theres a big punishment on one side and no reward on the other. How would any rational person behave in such a scenario?

Elon Musk by Ashlee Vance