It keeps happening with their draconian regulations. After the privacy/data protection bill, I hear that the european market for online advertising imploded trying to meet regulations and Google Ads gobbled up some 30-40% more market share in Europe. It came down to the fact that Google was able to meet the regulations fastest, and achieve informed user consent across a wide userbase dramatically faster than small local outlets, so ad buyers flocked to the fastest and widest game in town.
One example: https://techcrunch.com/wp-content/uploads/2018/10/image002.p...
Seems more true than ever that big regulations create big business moats that big businesses can easily absorb, but which demolish smaller businesses.