I mind the tolerance of society when some of these billionaires make their money on the back of negative externalities.

When "small" conflicts, like unpermissioned surveillance they use to psychological leverage against us, literally paying for content that gets eyeballs without taking any responsibility for the misinformation and hate they are financing to get produced, actively algorithmically pushing attention getting material without taking any responsibly for misinformation or hate material they are actively promoting, when they get paid for ads, but take no responsibility for taking money from scams and promoting them, and all the other seemingly "minor" but pervasive negative externalities that they hyper scale, people get hurt, and all of society gets degraded.

As everyone points out: incentives. If you don't take perverse incentives away from billionaires, or continue to give them perverse safe harbors, then those billionaires will relentlessly reinvest and innovate, in more harms, at ever greater scales. Things we still think are minor ethical issues, are not when they are hyper scaled.

This isn't some passive, life is rough sometimes situation, that people should be expected to weather. This highly financed, highly managed psychological, social and political harm, for profit. Even if the harm is distributed and seemingly low in any given incident. It adds up to a visibly degraded society.

Somehow social media gets treated with all the lack of responsibility of a neutral web site server. But they are highly active in how they operate. They should be responsible for their very active choices.