There is a move large companies do where after innovating they pull the ladder up behind them by trying to drag regulators into the space. Regulation establishes a moat and allows them to cruise on that innovation until enough external pressure builds up that the dam breaks (people innovating in countries without that regulation for example).

I'm not quite sure what the solution is to this by the way. I don't think the answer is no regulation, but how to improve the quality of regulation.