The worst thing a company can do is try to sell you more soap. The government on the other hand can literally ruin your life (or even end it in some countries).
The EU is doing a fantastic job of keeping everyone distracted by pointing the finger at the "evil American tech companies" while simultaneously doing the opposite when it comes to privacy from government...which is the real threat.
I could point to many instances of this but the easiest one is the EU commission currently pushing a ban on encryption.
But, the government is the solution to when business gets too much power. You can't convince a profit motivated corporation to stop doing something evil as long as it's profitable, so it's the government's job to protect people from corporate governance.
I totally agree with this. But are personalized Facebook ads really an example of this?
And what's the solution when the government gets too much power? Especially in a "democracy," when the people have implicitly given approval for this by voting in the people who are attempting to consolidate power?
Yes:
Facebook proven to negatively impact mental health (tau.ac.il)
Facebook collecting people's data even when accounts are deactivated (digiday.com)
Facebook test asks users if they're worried a friend is 'becoming an extremist' (cnn.com)
Testimony to House committee by former Facebook executive Tim Kendall (house.gov)