I think Fred Wilson sums it up pretty well.

So now we have a situation where the access providers want to change the game. And they are seeking the regulatory approval to do just that.

Venture backed startups and venture capitalists don’t use regulations and lobbying as competitive advantages. We don’t have armies of lobbyists. We don’t have congress on our payroll. But the access providers certainly do. They have been regulated for a long time. They know how the game is played and they use it to their advantage. Regulation is their game. They want our government to regulate the Internet and they want those regulations written in a way that allows them to do what they want to do. A regulated Internet is a comforting thought to the access providers and a frightening thought to entrepreneurs and the ecosystem around them. […] There is a lot of debate and discussion going on in Washington, Silicon Valley, New York City, and all around the country right now about net neutrality and regulating the Internet. We have big companies with huge vested interests making proposals that are heavyweight and are not startup friendly. We don’t need Google, Verizon, AT&T, or anyone else telling us how to regulate the Internet. We don’t need pages and pages of rules written by lawyers that will employ lawyers for years to come.

We just need to choose not to discriminate on the web and thereby maintain the way the Internet works today. I hope that everyone will come to their senses and realize that is the simplest, easiest, and best path forward.

Make no mistake. If this happens it will be a very bad thing for America.

Via AVC.