Sure. Businesses will try to protect themselves with regulation to whatever extent possible - it's what the market does (which is why I find it silly to discuss private markets and governance as if they were two separate and independent things). But "no regulations" isn't a solution to regulatory capture. It'll only make competition more cut throat (possibly involving real throats being cut), and companies more anticonsumer.

(Not that any of this matters much these days - companies like Uber demonstrate that you can absolutely run an illegal operation in western countries, and end up with a double-digit billion dollars IPO.)