Big Tech never had to. In fact, they can pretty much make their own: "Terms and conditions may apply" (also the name of a great classic documentary on the subject by the way).

Also the fact that they have millions to bribe (or in friendlier terms "donate") their way out of anything, and have a network of very powerful friends and allies does not help at all.

Regulation should have started when the likes of Microsoft and Google started to become omnipotent and the big players in the Valley were not as powerful and influential as they are today. Now it's probably way too late.