A fine article is found in City Journal by Mark P. Mills on the subject of new industries and regulation. In particular, it compares the effects of the railway/telegraph combination with modern content networks. His conclusion:

 

But if history is any gauge, there’s a political law of nature wherein foundational technological revolutions breed new regulatory entities. It began with the ICC’s attempt to throttle the rail magnates and continued with every one of modern history’s other iconic revolutions. Chemistry, electricity, telephony, radio/TV, automobiles, aircraft, pharmaceuticals, and nuclear fission all inspired Congress to create technology-specific regulatory entities: the Federal Communications Commission, the Federal Highway Administration, the Federal Aviation Agency, the Food and Drug Administration, and the Nuclear Regulatory Commission, to name but a few.        

 

  

I strongly recommend your reading Mill’s article.