Yesterday was a historic day for Big Tech. For the first time, the CEOs of Facebook, Google, Amazon and Apple were forced to bend the knee before members of the US Congress, to answer questions about their monopolistic activities.

‘These platforms enjoy the power to pick winners and losers, shake down small businesses, and enrich themselves while choking off competitors,’ said the chair of the committee, Rep David Cicilline, in his opening remarks, adding that ‘Their ability to dictate terms, call the shots, upend entire sectors, and inspire fear represent the powers of a private government.