it's also silly to try to regulate them. they have a fundamental incentive and nearly unlimited resources to do bad things, such as profiting from spreading hate via advertising, but also protecting their ability to do things like that by capturing regulatory agencies. look at attempts to regulate banking and how that has worked.
services like web search, email, internet access, and social media are clearly valuable and important, arguably necessary. they also get massively distorted and damaged in private markets. these are not lemonade stands; capitalism is an extremely bad model for natural monopolies. they should be publicly owned, run, and developed, in the federated, open model suggested elsewhere. anything else is fooling yourself about what is possible or beneficial.
as an addendum: yes this would require a massive renewal of democratic control over everything involved in this in order to make it work. unfortunately there aren't other good solutions.