On 15 December 2020, the European Commission published its long awaited drafts of the “Digital Services Act” (DSA) and “Digital Markets Act” (DMA). In the run up to the drafts being released there was intense speculation about how far the Commission would go in trying to achieve its aims of “(making) sure that we, as users, have access to a wide choice of safe products and services online. And that businesses operating in Europe can freely and fairly compete online just as they do offline” (EU Commissioner Margrethe Vestager). Cutting through all the noise, where do the real impacts lie, and what is the road ahead for these high profile Commission proposals?