From Joel Kotkin at Newsweek, The New Face of Oligarchy:
The real question when it comes to big tech is not the one posed by Haugen’s testimony—whether Facebook and the other tech platforms allow “misinformation” or “hate speech” on their platforms; her testimony instead conveniently missed the real problem: that a handful of mega-firms are now controlling content for much of the population.
And contrary to what Haugen and the Senate seem to believe, the biggest problem with having the flow of information so tightly concentrated in the hands of so few is not that it allows posts from hate groups or divisive political operatives or skinny teenagers. It’s that a tiny handful of oligarchs are dictating what is knowable, or what views are valid.
If once we thought the IT revolution would foster a more democratic era in communications, what happened was the opposite: The media became more concentrated, with just a few companies controlling all the information pipelines.The steady erosion in anti-trust enforcement under both parties has left firms like Facebook and Google with almost unlimited power to acquire or crush competitors and ideological opponents. And these firms are near-absolute monopolies; they hold market shares that exceed eighty percent in key markets like search, social media, and book sales, as well as phone and PC operating systems.
In fact, attempts to “regulate” the tech oligopolies may just make them stronger. Mark Zuckerberg routinely agrees with the censure against him, and when the federal strictures do come down, there’s every sign he will accept them, gaining even more allies in government and consolidating his monopoly and political influence.
Breaking up this information monopoly may not solve this problem, but it is difficult to imagine that regulation can or should control the process of information assessment and delivery. Reality is obfuscated not only by disseminating information that is not true, but by avoiding content that is true.