I suspect it's solvable if society has at least a slightly coherent idea of what's desired though.
Many businesses base their existence on breaking and building systems. After all, they're called start-ups for a reason. Proactive regulation (which seems like what you're proposing) just sounds like putting the cart before the horse and expecting the rest of the world to follow. To paraphrase Henry Ford, if he concerned himself with what people said they wanted, they would ask for faster horses.
The bifurcation-chaos that intuitively seems to surround network effects makes for an interesting fork here, actually (assuming of course that my intuition is anywhere close to correct). Both sustained overreaction and sustained underreaction can get very bad. Looking at the earlier example, earlier communication grids' network effects were more dependent on physicality, and “everything is ephemeralized as software with effectively unstoppable automatic updates” is a huge lever in both speed and dimensionality of power. So maybe the meta problem of “legislation can't operate as a control system with enough bandwidth to keep up with technology businesses wiggling the cable to get what they want in the grapple for the ‘humanity's nervous system’ role” is more important here.
Or, perhaps, human societies decide that technology level exceeding value reach is so undesirable that the innovation explosion becomes a casualty of preserving humanity's nature, because the alternative of it eating into everything faster than it can respond (which I would say is what is happening now) is worse, and then we get Dune. Or perhaps we designate sub-areas of society as experimental zones, regulate the heck out of the stable zones, and get closer to dath ilan…