First a word about e-cigarettes. To me they represent a stunning break
through that can substitute for smoking with virtually no risk, at low cost, with no public spending, no NHS resources and without coercion or prohibitive legislation.
According to Goldman Sachs they are one of eight creative destroyer technologies, giving people much of what they want from smoking but without the harm. To the cigarette-based business model of Big
tobacco, they promise a Kodak `moment.
The greatest risk to these developments is heavy handed regulation: over regulate the disruptive much safer entrants, and you implicitly protect the far more dangerous incumbent
