Think about what happened when WhatsApp changed its privacy policy a few years back. Millions of users packed up and moved to Signal and Telegram overnight. That's the system working. Social media isn't like a water company or the power grid, where you have one pipe and no choice. It's a dynamic ecosystem with low switching costs and constant churn.
Regulating it like a public utility would freeze that ecosystem in place. Utilities get protected monopolies, guaranteed rates, and government oversight over everything. If you treat Facebook like a natural monopoly, you cement its dominance. New upstarts wouldn't stand a chance because the rules would favor whoever already owns the infrastructure. That's an unintended consequence nobody seems to talk about.
And the economics don't match either. Public utilities are capital-intensive, single-purpose networks. Social media is content, community, and fast innovation. The reason we have a vibrant online landscape is because we didn't strangle it in a regulatory straitjacket. The cure here would be worse than the disease.
01:04 PM