Worth Reading: Do We Need Regulation for IoT Security?
A pretty good summary of the topic by Drew Conry-Murray: the market is not going to correct itself, it’s very hard to hold manufacturers or developers accountable for security defects in their products, and nothing much will change until someone dies.
And just in case you wonder how "innovative forwarding-looking disruptive knowledge-focused" companies could produce such ****, I can highly recommend The Stupidity Paradox.