The document discusses how communications technologies have changed exponentially due to Moore's Law and Metcalfe's Law, growing from 22 million computers in 1955 to 660 million in 2000 and the introduction of new devices like PlayStation. However, social and legal systems for regulating communications have changed incrementally, relying on public utility models from the past. This disconnect risks stifling innovation if policy does not adapt to treat new services differently than traditional utilities with natural monopolies.