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Meta fined $102 million for storing passwords in plain text
(www.engadget.com)
This is a most excellent place for technology news and articles.
The difference is even this pittance of a fine wouldn't happen in a planned economy - it would be like the planners fining themselves.
What we're seeing here is a result of the amoral "beastly" types concentrating power. What you're suggesting is to intentionally concentrate that power from the start.
Facebook is a great example of democracy - the billions of people using it have effectively (in their voluntary ignorance) voted for it to be like this. These are the same people who would vote for policies in a pure democracy.
And you're ignoring what happens in the SMB space, where people aren't part of the corrupt circle.
You're welcome to start a small community anywhere in the US with a planned economy, as proof of concept.
You could call it.... A commune, to indicate its goals.