Great way to understand how all this works is watching All-In Summit: Bill Gurley presents 2,851 Miles[1]. Basically, regulate your competition into the ground.
[1] https://www.iheart.com/podcast/105-behind-the-bastards-29236...
Edit: To elaborate, it's pretty easy to cherry-pick cases of either over and under regulation and use that to "prove" either side of the argument. There's nothing in the Bill Gurley talk that provides any insight into whether AI should be regulated or not because it doesn't directly engage with issues around AI specifically. Instead, it just says: "tech regulation bad".