In a democratic society, the existence of large centres of private power is dangerous to the continuing vitality of a free people.
Google has an 88% market share in search advertising, Facebook (and its subsidiaries Instagram, WhatsApp and Messenger) owns 77% of mobile social traffic and Amazon has a 74% share in the e-book market. In classic economic terms, all three are monopolies.
We need look no further than the conduct of the largest banks in the 2008 financial crisis or the role that Facebook and Google play in the ‘fake news’ business