The big news on Wall Street this past week was that technology stocks have officially entered bear market territory, dragging down most of the stock market with them. A less well-publicized news story was that a judge found that Google illegally monopolized the search engine market.

I hope these stories are, and remain, unrelated – but it creates a moderately sickening sense of déjà vu.

The judge’s decision highlighted the concern over Google’s stranglehold on the search engine market and its use of predatory practices to maintain that power—an outcome strikingly similar to the verdict Microsoft faced back in 2000 at the height of the dot-com bubble.

In April 2000, a judge found that Microsoft had used monopolistic practices to illegally dominate the internet web browser market. Shares of Microsoft reacted horribly to the news, prompting a sell-off in other technology companies. The carnage quickly spread, beginning a 2.5-year bear market that saw the S&P 500 drop a whopping 45 percent.

To be clear: I am not expecting that the judge’s Google ruling will produce similar results. I am not making any stock market predictions. But the parallels between Microsoft’s antitrust battles in 2000 and Google’s current legal woes are uncanny. Both cases highlight the difficulty of regulating tech giants in an industry that evolves faster than legislation can keep up.

The Department of Justice initially filed suit against Microsoft in 1997. By the time the judge issued his ruling in 2000, Microsoft’s monopoly was already weakened by a flood of competition, making the judge’s ruling insignificant in terms of competition. It also serves as a reminder of how quickly technological advances can render once-powerful monopolies damaged, if not obsolete.

Just as Microsoft’s browser dominance was eventually eroded by new technologies, Google’s current search engine supremacy may face a similar fate.

While the judge’s ruling against Google and the Nasdaq’s recent plunge appear unconnected, they are both part of a larger narrative about the rollercoaster ride of tech and market forces. History has shown us that tech monopolies can quickly become yesterday’s news, often overtaken by the very innovations they once celebrated.

The biggest threat to Google’s dominance isn’t the legal system, and it probably isn’t even current search engine competitors like DuckDuckGo or Bing. The entire web search process is already being revolutionized by Artificial Intelligence (AI) and AI-driven chatbots. These technologies could revolutionize how users interact with digital information, potentially undermining the traditional search engine model that Google has perfected.

For Google, the real threat isn’t the courtroom battles of today, but the tech disruptions of tomorrow. Although that seems not to phase regulators focused on continually fighting yesterday’s battles.

David Moon is president of Moon Capital Management. A version of this piece originally appeared in the USA TODAY NETWORK.