Regulation is always beneficial to esthablished companies. GDPR, European VAT rules, data security, encryption requirements, etc. In the end all this just make

Regulation is always beneficial to esthablished companies. GDPR, European VAT rules, data security, encryption requirements, etc. In the end all this just makes it harder for newcomers. Existing companies only need to adapt, newcomers need to comply (spend more time and money), before they even can enter the market and start competing. Having a better position for future regulation is another benefit for being a first mover advantage.