In March 2019, the European Union fined Google 1.5 billion euros for the company’s violations in the online advertising market. This is the third fine against Google by European authorities since 2017. Other U.S. tech giants, such as Amazon, Facebook, and Apple have also faced an aggressive regulatory approach in Europe. The differences between the American and European regulators have sparked a debate about issues related to antitrust rules, monopoly power, and the importance of customer privacy. What are the different sides in this debate? Furthermore, which stakeholders benefit from the more stringent European regulations, and which stakeholders win from the more relaxed American approach to ‘big tech’?