Should Big Tech be broken up or highly regulated?

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The big issue is they are clearly Too Big To Fail right? Arguably the impact of Meta, Microsoft or Alphabet going Lehman would cause an absolutely insane global crisis, given the tendrils they have everywhere: much of the rest of the internet now relies on them, their softwares power the intranet of most institutions, most people are reliant on them for all private and professional communication, a huge amount of small/medium businesses and self employed individuals are reliant on them etc. Even if there was some managed continuity so we don't just see all their services vanish,  the idea of their key assets (people's private data) being sold off to private equity is a non starter.


This is probably worst in the case of Meta, as they have the most klaxon alarms running (never been very profitable, always over promised to this day, huge debts, maniacal leadership from dictator-ceo), but any one of them could be cooking the books, and drag a whole lot of the economy with them.