I have a friend who owns a small Internet service provider out West. Though his company is fine and thriving for now, the Federal Communications Commission has proposed rules that have him concerned.

“I’m getting worried about being regulated out of business,” said my friend, who we’ll call “Bill,“ since he does not want to be identified while he has pending business before the FCC. “I’ve started to talk to companies that might buy me out,” Bill told me. “I don’t want to wait until the FCC makes my work and investment worthless.”