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Notes -
Chinese social media sites already tried this to stop the sale of TikTok. That's my real problem here: this doesn't prevent this happening, it just prevents you from having your own companies (which do respond to US government pressure, e.g. with the pressure over "misinformation" or the Hunter Biden story).
The countries that don't have megacorps are basically buying their services from the US. The EU doesn't have its own social media sites and the solution is to just take US ones and regulate them. Of course, this only works if the US doesn't respond badly (which it is now). All of this seems strictly inferior to just building your own.
There's also the fact that these more regulations focused states are simply not doing as well as the US and arguably leech in some fields like pharma where the US spends more. I don't think wanting to control social media companies caused this, but maybe the mindset may apply elsewhere and be damaging.
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