2 Points; Regulation is not the antithesis of Innovation, Monopolies break the Game.

This point keeps coming up, regulation in europe stifles their innovative capacity, with silicon valley's companies brought up as show horses. Outside of tech I'm not sure what other "business" the US is so dominant in. In tech, so much can be attributed to network effects and compounding interest (loosely speaking) that it can't be so trivial to say anyone else with less regulation can mimic it.

You can't beat monopolies with innovation. You beat monopolies with regulation, but even then left unchecked monopolies and the entrenched wealth it generates can overcome regulatory bodies and subvert their intentions.