“All you need to do is say,” a recent article proclaimed, “‘I want a beer’ and Alexa will oblige. The future is now.” Advances in technology have seemingly increased our choices and opened markets to competition. As we migrate from brick-and-mortar shops to online commerce, we seemingly are getting more of what we desire at better prices and quality. And yet, behind the competitive façade, a more complex reality exists. We explore in our book “Virtual Competition” several emerging threats, namely algorithmic collusion, behavioural discrimination, and abuses by dominant super-platforms. But the harm is not just economic. The potential anticompetitive consequences go beyond our pocketbooks. The toll will likely be on our privacy, well-being and democracy.