When resources of a private company seriously outweigh those of a government, it may become a problem; see "banana republics" [1]. That is, regulations cannot work against a sufficiently overwhelming force.
"Snuffing entire sectors" is unlikely, even though buying and shutting down a potentially viable competitor is not uncommon in the business world. Google in particular bought and eventually closed a number of startups, but, to my mind, it was mostly because they did not happen to be fast enough growing, not to kill competition. There is some research [2] showing that companies do buy other companies to kill a competitor, but this is very far from being the majority of cases.
"Snuffing entire sectors" is unlikely, even though buying and shutting down a potentially viable competitor is not uncommon in the business world. Google in particular bought and eventually closed a number of startups, but, to my mind, it was mostly because they did not happen to be fast enough growing, not to kill competition. There is some research [2] showing that companies do buy other companies to kill a competitor, but this is very far from being the majority of cases.
[1]: https://en.wikipedia.org/wiki/Banana_republic#Honduras
[2]: https://insights.som.yale.edu/insights/do-companies-buy-comp...