A good point - large incumbents often welcome complex regulation - as they act as a significant barrier to new entrants. However you could argue that companies

A good point - large incumbents often welcome complex regulation - as they act as a significant barrier to new entrants. However you could argue that companies like Google or Facebook were new entrants into the advertising market and unfairly competed with traditional players by breaking existing norms ( around privacy or taking editorial responsibility for promoted content ). Or the gig economy type of companies like Uber ignored existing employment law. Sometimes it's just about enforcing existing expected standards in new situations to create a level playing field. If you set the regulation at the level of what, and leave the how up to the companies - then you leave scope for competition and innovation in how to achieve the objective.