It could even be true that the tech platform companies are gaining something like a monopoly. We don't tend to think so, we're running with the idea that a contestable monopoly will not be exploited as a natural one would be. But, for the sake of argument, OK, but that doesn't mean that this is the solution, does it?
What’s the answer? We’ve only begun to grasp the problem, but in the past, natural monopolies like utilities and railways that enjoy huge economies of scale and serve the common good have been prime candidates for public ownership. The solution to our newfangled monopoly problem lies in this sort of age-old fix, updated for our digital age. It would mean taking back control over the internet and our digital infrastructure, instead of allowing them to be run in the pursuit of profit and power. Tinkering with minor regulations while AI firms amass power won’t do. If we don’t take over today’s platform monopolies, we risk letting them own and control the basic infrastructure of 21st-century society.
We tend to think we've all just spent the last 38 years proving that nationalisation isn't the answer to what ever monopoly problems might actually exist. The nationalised railways had a continuing decline in passenger numbers something that reversed as soon as even a simulacrum of private ownership returned. The privatisation of the electricity and water companies led to higher investment and a smaller workforce, showing that nationally run companies just weren't efficient.
And we're absolutely sure that everyone's just dandy with getting their search services from British Leyland, right?
It is indeed true that monopolies can and do exist, either for those natural reasons or because of legislative privilege. But we've already tested the nationalisation solution to destruction and no, it's not the answer.