> In England, ca. 1500s common law established the legal precedent that if your cattle broke loose of its pen, wandered into your neighbor's field and trampled their garden, you were liable for the damage your cattle caused.

Ok.

> Meanwhile, 500 years later Uber could disrupt the livery industry with VC cash that rendered a NY cab's owner/operator 6-figure financed medalion license worthless, and somehow that wasn't Uber's problem.

And how does this paragraph connect to the previous one? The streets of New York isn't taxi drivers' private property. No one trampled their garden any more than me opening a coffee shop tramples the garden of the Starbucks down the street. Should we forbid any new entry into a market just because it upsets the incumbents who invested big money into their business?