Since the advent of the internet, a handful of digital platform companies have grown to dominate the market. The dominance of Big Tech has created a new, digital Gilded Age, echoing the behavior of industrial barons in the early 20th century. Like the original Gilded Age, this new digital economy calls for a rebalancing of consumer-corporate relations and the creation of new regulatory structures. g at least one Meta product. Consumers have paid a price for this success. Yes, wonderous new products and services have been made available—but at what cost? What was formerly private personal information has been siphoned off by these companies (often without permission) to become a corporate asset. Control of that asset allows the companies to achieve and maintain market dominance and crush competition. The decision by those engaged in social media to curate online information for engagement rather than veracity has hammered truth and trust and threatened democratic processes.
