The main focus of platform scrutiny has always been on privacy. Platforms engage in „surveillance capitalism“ and hence the power of platforms is a function of the data they gather about us. This telling has led to the expectation that by regulating privacy – like with the GDPR in Europe – platform power can be tackled. As it turned out, the GDPR hasn’t really curbed platform power, but instead increased it in meaningful ways. In my talk I will tell the real story of platform power and why privacy regulation won’t save us.